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McKinney Market Minute – September 2017

Posted on September 5, 2017
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Home Prices in McKinney, TX – September 2017

October 5, 2017 – Real Estate market data for McKinney, TX provided by Elaine Harper, Broker of Davidson Lane Real Estate Group

McKinney, TX Home Prices – September 2017

Could the market be settling down to a more even-tempered playing field? Let’s take a look at immediate and gradual market changes in September, compared year over year and to the previous month.

In September, McKinney seller’s received an average 95.8% of their original asking price. Last year seller’s received 97.8%! This year was just slightly lower, which was expected, as back-to-school season and Labor Day always result in a short “cool off” period.

Currently there are 974 ACTIVE listings for sale in McKinney in MLS. That includes 376 NEW LISTINGS in September 2017, up from the 322 new listings in September of 2016, and even more from the 306 in September of 2015.

Per NTREIS MLS, a very small decrease in actual sales for the month at only 287 homes were closed in September this year compared to 309 in September of 2016, a -7.1% decrease.

McKinney, TX Real Estate Report Summary

The average LIST price in September 2017 for single family homes in McKinney was $402,223, a 11.7% increase from just last year’s $360,230.

The average SALES price in September 2017 for single family homes in McKinney was $348,265 (up from $324,909 from September 2016). This is also up from September 2015, when it was $297,704.

The average SALES price per square foot in McKinney for September 2017 is $136, a 7.1% increase from September 2016 ($127/sqft), and up from $117/sqft in September of 2015.

In September 2017 the Average Days on Market for McKinney Home listings was only 47. This is a 14-day increase from the previous year’s 33 DOM, a 42.4% increase. This was to be expected with the back to school lull. Traditionally, fewer buyers are searching during August and September months.

All information reported obtained through the North Texas Real Estate Information Systems (NTREIS). For the most accurate market synopsis, only SFR (Single Family Residences) sold by individuals or from builders were included. No distressed sales, bank owned or relocation company sales were included in the report.

Want to Find Homes For Sale in McKinney, TX?

Visit my website to search for homes in McKinney or to be notified when new McKinney home listings come on the market.

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Elaine Harper is a veteran McKinney based Real Estate Broker with Davidson Lane Real Estate Group, motivated by working with home buyers & sellers that appreciate her market knowledge and are ready to take the plunge! Elaine specializes in internet marketing and has a 7 Days on the Market average and a 99.6% Final Sales Price to Original Sales Price ratio on her listings in the last 24 months. As a long time McKinney resident, Elaine is well equipped with extensive knowledge of McKinney, Allen, Plano, Frisco and other nearby suburbs in Collin County. Elaine brings experience and innovation to each real estate transaction. For help buying or selling a property, call 972.302.8327.