When you contact a Realtor about a property, be sure to let them know the USE of the property. Our North Texas MLS allows you to categorize listings in the following ways: Residential, Commercial, Lots and Acreage. But, within these general categories are listings of all shapes and sizes. There are current 243 MLS listings of real property for sale or lease, for residential or commercial use, in the Town of Prosper, Texas.
Residential Sales
In Prosper, you'll find residential sale offerings very lean under $200,000 (currently just 15 homes that you could easily tour in a single showing tour). With only 156 total offerings in the MLS, ranging in price from $130,000 to $21,000,000, Prosper's housing market has the reputation of being one of the best in Collin County. The problem I see with home buyers in Prosper right now is their under-estimation of what a home might sell for in our Town. Their attempts to negotiate the list price in a downward direction results in their loss of that particular property to another buyer who recognizes the value. By their 2nd or third house offer, they do begin to trust their agents, and the listing agent's ability to price a home to drive showing traffic and sales, and they achieve their goal of buying real estate in Prosper. It just depends on whether the light bulb goes on at their backup house, or if they have to lose out on two homes before they finally come to the table with the right perspective.
Residential Leases
With just 12 homes in Prosper available in the MLS for rent, Prosper's lease market is way low of meeting the demand. Anybody looking to lease in Prosper would be smart to bring their application fee with them to the showings. Any good agent showing a lease in Prosper would be wise to bring the tenant application form and have them complete it at the house. Competitive doesn't begin to describe it.
Commercial Sales
There are currently 6 commercial purchase opportunities in the North Texas MLS. The prices range from $150,000 for a 1920 built, 1600sf property on just over half an acre to a little over $1,000,000 for 2.5 acres of land to develop and re-zone commercial. Keep in mind that there are other sites that serve commercial real estate a little better than the local MLS, so these are not going to be the only purchase opportunities available in Prosper. But, the local MLS is one more site where commercial agents may choose to list a commercial property for sale.
Commercial Leases
Commercial leases are growing in Prosper, TX. We have additional commercial developments that are filling up quickly. And, there are more on the horizon. But, there is only one single MLS listing of a commercial lease available in Prosper. That is a 1600sf building, built in 1997, leasing at $1.25/sf. Driving around Town, I can attest to the fact that there are certainly more than one opportunity to lease space in Prosper. Again, keep in mind that the local MLS is not used by many of the commercial agents. There are systems that serve commercial agents better.
Lots and Acreage
Prosper, Texas is a great place to build the home of your dreams. There are currently 67 opportunities to develop your piece of Prosper. From $54,900 for a residential lot, $99,500 for a commercial lot, to a little over $850,000 for a Farm/Ranch 5-acre spread. The top cap of the Lots and Acreage category of the MLS, as it related to Prosper, TX, is currently $17,450,000 for your own 50-acre commercial concept on West First Street. Do you get the impression that something big will be happening in Prosper in regard to commercial development? If you are up on the activities of our local government and the Prosper Economic Development Committee, you know that those plans are already coming to light.
Does the phrase, 'Get in while the gettin's good' mean anything to you?
Have a blessed day!
Ronda
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