May 2018 Market Update 75074
Hello Neighbors!
The summer months are heating up and so is the Real Estate Market. Here’s a market update to give you an idea of what is happening in our neighborhood. The links below the data will take you an interactive, live data feed, showing you the year over year changes!
May Month’s Supply of Inventory:
75074: 1.7 | Collin county: 3.4 | Entire MLS: 3.0
Days on Market:
75074: 8 | Collin County: 14 | Entire MLS: 13
Median Sales Price:
75074: $302,000 | Collin County: $345,000 | Entire MLS: $267,000
What does it mean to you?
If you are considering selling your home:
This is a seller’s market. With only 1.7 months of inventory (a balanced market is 6 months), there are not enough options to meet the buyer demand. This is reflected in the unbelievably low Average days on market and increasing home prices! Sell your home in 8 days? You bet! And prices? I don’t know about you, but I have enjoyed the increase in home equity as the neighborhood home prices continue to appreciate.
If you are considering buying a home:
Get pre-approved! If you are seriously considering buying a home, there are important steps to take to make sure your offer is on the table. The first is must show a seller you are strong buyer!
Need Help? Contact Franceanna for a consultation: 972-588-8863 Or
click here to book a consultation.
![Should I Buy Now or Wait? [INFOGRAPHIC]](https://lirp.cdn-website.com/fdd4e19d/dms3rep/multi/opt/kcm-infographic-1619809634-1920w.png)