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McKinney Residential Housing Sales For February 2016 Are Up 11.3%

By
Real Estate Broker/Owner with DFW Team Realty
February 2016 Real Estate Market Summary for McKinney, TX (MLS Area 53)
  Month Year to Date
  2016 2015 % Change 2016 2015 % Change
Closed Sales (Reported) 160 178 11.3 315 336 6.7
Closed Sales (Projected) 160 200 25.0 315 358 13.7
Listings Under Contract 191 216 13.1 365 396 8.5
Average Sales Price $287,172 $310,418 8.1 $287,521 $304,881 6.0
Median Sales Price $267,500 $285,000 6.5 $260,500 $283,500 8.8
Percent of Original Price Received 98.5 97.9 -0.7 98.2 97.7 -0.5
Days on Market Until Sale 41 39 -6.0 43 38 -11.3
Inventory of Homes for Sale 316 365 15.5      
Months Supply of Inventory 1.3 1.5 16.0      

In February 2016 the number of home sales reached 178, a rise of 11.3% compared to February 2015. In McKinney there was a rise of 6.7% in the number of residential property sales recorded year to date from last year. There were 336 residential property sales recorded total this year. This month there was an increase of 25% in projected homes sold in McKinney. There were 200 projected homes sold total this month. There were 358 projected houses sold year to date, and this was a rise of 13.7%. New homes listed in the market in February 2016 was at 260 total, an increase of 15%. Year to date new homes for sale in the market experienced a rise of 22%, with 511 new on the market total this year. The number of properties listed under contract this month was at 216, an uptick of 13.1% from February 2015. In McKinney there was an increase of 8.5% in the number of properties listed under contract year to date compared to February 2015. There were 396 properties listed under contract this year. In February 2016 the number of approximate months supply of housing inventory was 1.5 total, a climb of 16%. This month in McKinney the number of homes for sale in the market reached 365, a gain of 15.5%. This month days on market until sale had a drop of 6% in contrast to February 2015, with 39 days total. In February 2016 percent of asking price received in McKinney sunk 0.7%, with 97.9 percent of asking price received this month. Year to date in McKinney percent of list price received saw a decline of 0.5%, with 97.7 percent of list price received this year.

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