12 Dec Collin County Housing Market Update – December 2023

Hello December and I can’t believe this is my last market update for Collin County, Tx for this year!!

Median Sales Price
Nov 2023- $475k
Oct 2023 – $495K
YOY – 4% decrease

Days on Market
25 Days

New Listings
Nov 2023 – 1256
Oct 2023 – 1613

Solds
Nov 2023 – 976
Oct 2023 – 1137
YOY – 8.6% increase
*This despite higher interest rates!

Active Listings
Nov 2023 – 3002
Oct 2023 – 3167
YOY – 10% decrease

We are in a normal decline in activity for the winter but I anticipate we will start seeing things pick up again in January. 

Interest Rates
Rates are down almost an entire point since October!

Also, the Federal Reserve announced that they plan to cut interest rates 6 times next year.  This will only happen if the employment levels also drop. This is something we are all watching.

A cut in interest rates could have a big impact on buyers and even sellers. It may more sense now for Sellers that have been on the fence about selling but not wanting to make a move so they don’t lose current rate to make a move. This could help with inventory levels and get us a closer to a balanced market.

However, if we don’t get inventory levels up, lower interest rates will bring in more buyers, which will drive up home prices, and more competition again.

Happy Holidays 🎄

Have questions about your local market in the DFW Metroplex, feel free to reach out👇

Kelli Clark, REALTOR®️
One Source Real Estate
📱214-695-2066
📧