McKinney House Rush 2015

McKinney House Rush 2015

McKINNEY - Median new home prices in North Texas are running about $285,000 — but sharp increases in land and construction costs in the DFW area are pushing new home costs above $300,000 in many neighborhoods.

The supply of finished new houses in the McKinney area is near a record low with only about 2,700 available for immediate move-in.

The shortage of both new and preowned homes is causing residential property costs to soar in North Texas — Dallas-area home prices were up 8.7 percent in July from 2014 levels, according to a new Standard & Poor's/Case Shiller Home Price Index.

The land rush this week to buy houses in McKinney probably will not be repeated across the region, said Ted Wilson with housing analyst Residential Strategies Inc. The strategic location of the McKinney community and the price of the homes caused buyers to line up, he said.

Preowned homes in the Dallas area are selling in less than 40 days on average and at between 96 percent and 100 percent of asking price, data from real estate agents shows.


For more information about real estate and the DFW market, please visit my site at www.northtexasheroes.com



HGR LEADS Headshot
Author:
Phone: 214-239-1889
Dated: October 12th 2015
Views: 528
About HGR: ...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Halo Group Realty
825 Watters Creek Blvd. Suite 230
Allen, TX
469-437-4651
2144520590

Other Locations