Articles

Collin County Market Trends  

By Christine Hughes – October 2017

Many people are wondering if the current pace of the real estate market in Collin County will continue? Personally, I’ve seen a bit of a slow down in overall market activity over the past few months; homes are staying on the market longer and a price drop notification is quite common. On the other hand, some homes (even in the $500-$600K range) continue to sell in one or two days with multiple offers. So, what gives? As a broker for over 10 years I know that it takes many months for a definitive market trend to truly emerge. Sometimes, even the hottest markets take a breather. With school back in session many families are settling in for another year of homework, class projects, sports, and kids’ activities. Moving tends to drop down on the priority list unless they happen to see a home that “motivates” them, or if they are on a time constraint with a job transfer or other life event. One thing is certain: if you have a properly maintained home and it is priced right, it will sell!

Let’s look at what drives our market. First, we still have incredible job growth in the area with more jobs available than can be filled. We still have low interest rates and an overall shortage of available homes. New home construction continues in Collin County, and builders are having a hard time obtaining land to build on. The “California Effect” is still alive and well with many families and workers moving from the Golden State each week, especially with the wave of Toyota and State Farm employees moving here. So, although the market has slowed a bit since school started, or since the Hurricanes started beating on the borders of Texas, the overall trend and economics are still showing signs of a strong market in the upcoming years.

Just like the stock market, the real estate market will take a breather now and then. However, regardless of nation wide trends, we are fortunate to live in Collin County where we remain somewhat insulated from the effects of the national economy.