Collin County Real Estate Sales Continue to Rise
PLANO, Texas - For the fourth consecutive month, home sales in Collin County and surrounding areas have increased over the same time one year ago, reports the Collin County Association of Realtors. Projected December 2009 sales in this area are 10.7 percent higher than in December 2008.

"While December is historically one of the slowest months of the year for real estate sales, the increase over last December is very encouraging, especially in light of increased sales in the three previous months," says Steve Haid, CCAR member services director. "The uptick in real estate sales for the last four months has been a nice trend that may signal an improving real estate market."

The CCAR Pulse, which delves into the real estate markets of 36 local communities, also reports that the time it took to sell a home decreased by 4 percent compared to the previous year, and the median sales price in December 2009 was nearly 3 percent higher than in December 2008. Single family homes priced below $200,000 are also selling relatively quickly, and they continue to be in short supply with less than four months of inventory. That statistic is partly influenced by brisk sales of foreclosure listings.

"Nearly 18 percent of sales in the fourth quarter were foreclosures, and the majority of those are lower priced homes. In fact, those homes are selling so well that the inventory of foreclosure listings has decreased by 29.5 percent from a year ago," notes Haid.

Collin County and surrounding areas continue to enjoy a relatively strong local economy. That, coupled with low mortgage interest rates and very affordable housing, businesses and residents will continue to be attracted to this area. That growth should stimulate our local real estate market and promote further improvement in 2010.