Quick Stats: Real Estate Market Trends (August 16, 2024)

Over the past 90 days, the real estate market across several Texas counties has shown notable trends in both sales activity and pricing. The following analysis covers Collin, Dallas, Henderson, Hunt, Kaufman, Rains, and Rockwall counties, offering insights into current market dynamics.

Total Closed Sales Count

• Monthly Average: 6,732

• Trend: Up 19%

  
  

The 19% increase in total closed sales across these counties indicates a steady demand in the market.

Total Closed New Construction Sales Count

• Monthly Average: 1,011

• Trend: Down 10%

  
  

A 10% decrease in new construction sales suggests a slowdown in the new home sector. This trend may be driven by a shift in buyer preferences, where more buyers are opting for pre-owned homes that offer more value for the price, leading to an excess supply of new constructions.

Total Closed Pre-Owned Count

• Monthly Average: 5,566

• Trend: Up 24%

  
  

The 24% increase in pre-owned home sales signals a growing interest in existing properties. Buyers are likely attracted to the established neighborhoods and more competitive pricing that pre-owned homes offer. Additionally, high interest rates have made affordability a key concern, pushing many buyers toward the greater value found in existing homes. However, with rates beginning to stabilize, the market dynamics could see further shifts in the coming months.

Average New Construction Sales Price

• Monthly Average: $350,451

• Trend: Up 3%

  
  

A 3% rise in the average price of new construction homes, up 4% from the last report, suggests their is still a demand. However, this modest increase indicates that buyers are becoming more price-sensitive and driving the market focus back to pre-owned.

Average Pre-owned Price

• Monthly Average: $323,186

• Trend: Up 9%

  
  

The 9% increase in pre-owned prices reflects growing appreciation in existing home values. This trend suggests that these homes are becoming more desirable again.

Average Sales Price per SqFt

• Monthly Average: $141

• Trend: Up 4%

  
  

A 4% increase in the average price per square foot indicates a gradual but consistent rise in property values. This metric is essential for understanding the cost of space and can influence how buyers approach their purchasing decisions.

These statistics provide a comprehensive view of the real estate market trends in Collin, Dallas, Henderson, Hunt, Kaufman, Rains, and Rockwall counties. With increases in total sales and average prices, the market shows signs of stability, particularly in pre-owned, while new construction faces some headwinds.

If you'd like a neighborhood or personalized market report at no cost, feel free to reach out to me using the contact information below:

Amanda Allen, Coldwell Banker Realtor

(903) 603-0648

Amanda.Allen@cbrealty.com

www.AmandaAllenHomes.com for hundreds of Real Estate Articles & Market News!

Looking for a trusted real estate agent in Texas? Amanda Allen is dedicated to helping clients buy and sell homes with personalized, attentive service. Known for going above and beyond, Amanda doesn’t just manage transactions—she gets her hands dirty to ensure your home is market-ready. Whether it’s helping with the move-out process, painting walls, staining wood, or cleaning baseboards, Amanda offers services that most agents leave to outside professionals. Every family has unique needs, and Amanda earns her commission by providing a level of care and commitment that’s rare in the industry. She’s all in, and it shows.