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Collin County Housing Market Sees Increase in Homes Under Contract, Decrease in New Listings and Median Sales Price

11-2020_4 April

The Collin County Association of Realtors (CCAR) reports that the housing market throughout the county showed promising signs in April 2023, with an increase in homes under contract and a rise in homes for sale. However, according to the latest data, the number of new listings and median sales price decreased.

In April 2023, Collin County had 12.3% fewer new listings than in April 2022 (1,648 vs. 1,880). Despite this decrease, homes under contract increased by 21.0% from April 2022. This increase may be attributed to the 84.3% increase in housing inventory compared to the prior year.

“There are a lot of buyers looking to buy a home in Collin County, and it is nice to have inventory to show them. However, the inventory is not enough to change our area from a seller’s market. In April, homes that were turn-key ready and well-priced often attracted multiple offers,” said CCAR President Shana Acquisto.

The market remained a strong sellers’ market, with a 1.7 months supply of homes for sale in April 2023, 118.9% more than the previous year. Homes remained on the market for 46 days in April 2023, 30 days more than the same time last year, and sold for 97.7% of the original list price. At the closing table, homebuyers paid a median sales price of $520,000, 5.5% less than a year ago.

All signs point to the Collin County housing market as one to watch, with an increased supply of homes for sale and a strong demand from buyers.


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