Hello everyone, I’m Marie Walton, a REALTOR® with Ebby Halliday REALTORS, bringing you the latest market update for September 2024 in McKinney, Texas. Whether you’re a buyer or seller, this information is crucial for making informed decisions in the current real estate market.
Let’s start with the Months Supply of Inventory, which currently stands at 4.86 months. This means that at the current rate of sales, it would take approximately 4.86 months to sell all the homes on the market. Over the last 12 months, we’ve seen a significant increase of 93.63% in Months Supply of Inventory, indicating a shift in the market dynamics. 6 months is considered a balanced market so we are still tilted to the sellers side.
The List to Sold Price percentage is holding strong at 97.4%, showing that sellers are still able to secure a high percentage of their asking price. This is a positive sign for sellers in McKinney, as it indicates a competitive market where homes are selling close to their list price.
The median days on market is currently 54 days, which is a reasonable timeframe for homes to sell in McKinney. This data point gives us an idea of how quickly homes are moving off the market and can be helpful for both buyers and sellers in setting expectations.
Finally, let’s talk about the median sold price, which is currently at $490,000. This is the midpoint of all the home prices sold in McKinney, giving us a snapshot of the overall market value. It’s important to note that this is just a median value, and individual home prices may vary.
In conclusion, the real estate market in McKinney, Texas is showing signs of stability with a good supply of inventory, strong list to sold price percentage, and reasonable days on market. Whether you’re looking to buy or sell, it’s essential to stay informed and work with a knowledgeable REALTOR® who can guide you through the process. Thank you for watching, and feel free to reach out to me for any real estate needs in McKinney.
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Marie Sells Dallas 