Collin County Area Realtors (CCAR) reports that key market indicators began to favor buyers in June as more homes entered the market, sold for less than the year prior and took longer to sell.
In June, 2,300 new listings entered the market, 8.2% more than in June 2023, providing buyers with 3.6 months of inventory. A market with 6 months of inventory is considered balanced. Homes remained on the market for an average of 40 days in June, three days longer than the same time last year, and sold for a median price of $515,000, 4.6% less than the year prior.
“June was an exciting month to work with home buyers in Collin County. There were more opportunities to buy, motivated sellers, and really great properties,” said Jamuna Thill, CCAR President. “It is always rewarding to help clients unlock their dreams of homeownership, and the June market allowed many to do that.”
Statewide, housing inventory increased by an impressive 40.8%, creating 4.6 months of inventory. The median price for home sales in Texas decreased by 0.8% to $345,000. Median prices varied across major counties in Texas, with Dallas County at $370,000, Harris County at $330,000, and Travis County at $531,100.
No matter the market conditions or inventory availability, buying or selling a home is a complex process. Ask a Collin County Area Realtor to learn more about buying or selling a home.
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Affiliated with Texas REALTORS® and the National Association of REALTORS®, Collin County Area REALTORS® is the source for professional and reliable real estate information. Information contained in this release is based on Texas REALTORS® MarketViewer reports.