Home > Local Real Estate Markets > McKinney TX August 2009 Housing Market Report

McKinney TX sold 226 home sales in August 2009. These numbers include single-family homes, condos, duplexes and townhomes in McKinney TX (not only MLS 53 but including MLS 55 McKinney TX on the local MLS system). Up to 08/31/2009, 1,473 homes sold in Plano Texas for the year. When compared to the same time last year, McKinney TX sold 1,624 homes for the same period in 2008. The positive news is that McKinney TX sold 5 more homes when compared to the previous month. Although small, it is still an improvement. 

January: 99 Plano TX homes SOLD
February: 128 Plano TX homes SOLD
March: 185 Plano TX homes SOLD
April: 174 Plano TX homes SOLD
May: 187 Plano TX homes SOLD
June: 220 Plano TX homes SOLD
July: 242 Plano TX homes SOLD 

August 2009: 226 McKinney TX sold homes
for $48,721,375
 

The average home in McKinney Texas is 4-bedroom, 3 bathrooms, just over 2,600 square feet and sold for $215,581 in 70 days on the market.

The lowest priced home sold for $47,900 (2-bedrooms, 1-bathroom property, 1,000 square feet) in Downtown McKinney TX 75069. It is bank-owned property, sold in 18 days.
 

The most expensive priced home sold for $824,900 (5-bedrooms, 4 1/2-bathrooms, over 6,100 square feet) in Chancellor Creek McKinney TX 75070. It is a custom built English Tudor, a former Halifax model home with gourmet kitchen, media room, wine cellar and verandas. Views of matured trees and landscaping are breathtaking in this property.
 

I think it's important to study the days on market for the homes sold. As a buyer, you will understand the "limits" of your negotiation power in general and as a seller, it is important to know the pricing correctly gives you the greatest chance to sell your home.

The breakdown of the price ranges are as follows:
DOM is number of days the house is on the market.

Less than $100,000:
SOLD = 6 homes (47 days on market, $70/sq.ft.)
Under Contract = 21 homes; DOM = 80 days
AVAILABLE = 19 Homes; DOM = 171 days

$100,001 - $200,000:
SOLD = 129 homes (49 days on market, $77/sq.ft.)
Under Contract = 205 homes; DOM = 71 days (32% INCREASE)
AVAILABLE = 300 Homes DOM = 87 days

$200,001 - $300,000:
SOLD = 53 homes (96 days on market, $84/sq.ft.)
Under Contract = 57 homes; DOM = 89 days
AVAILABLE = 211 Homes DOM = 91 days

$300,001 - $400,000:
SOLD = 23 homes (93 days on market, $92/sq.ft.)
Under Contract = 25 homes; DOM = 114 (32% INCREASE)
AVAILABLE = 119 Homes DOM = 120 days

$400,001 - $500,000:
SOLD = 10 homes (99 days on market, $103/sq.ft.)
Under Contract = 13 homes; DOM = 107 days (54% INCREASE)
AVAILABLE = 87 Homes DOM = 138 days

$500,001 - $600,000:
SOLD = 3 homes (170days on market, $110/sq.ft.)
Under Contract = 3 homes; DOM = 154 days
AVAILABLE = 47 Homes DOM = 143 days

$600,001 - $700,000:
SOLD = 1 home (143days on market, $147/sq.ft.)
Under Contract = 1 home; DOM = 7 days
AVAILABLE = 23 Homes DOM = 175 days

$700,001 - $800,000:
SOLD = None
Under Contract = None
AVAILABLE = 14 Homes DOM = 102 days

$800,001 - $900,000:
SOLD = 1 home (387 days on market, $135/sq.ft.)
Under Contract = 1 home; DOM = 71 days
AVAILABLE = 6 Homes DOM = 255 days

$900,001 - $1,000,000:
SOLD = None
Under Contract = None
AVAILABLE = 8 Homes; DOM = 118 days

Over $1 Million:
SOLD = None
Under Contract = None
AVAILABLE = 35 Homes; DOM = 157 days

Real Estate Commentaries based on the above market data:

McKinney TX continues to be very promising in delivering positive signs of real estate market recovery in the DFW metroplex. It is one of the few cities that continue to yield improvement numbers in the past few months. McKinney TX sold 5 more homes in August 2009 when compared to the same time last year (August 2008). Although it may seem an insignificant number, but the pending contracts shows a whopping 32% increase in the $100K - $200K and $300K-$400K price ranges. The $500K - $600K price range increased over 50%! Such positive news for market recovery.

There are 943 homes for sale in McKinney TX. Based on its current inventory level, it would take approximately 18 weeks (4 1/2 months) to sell based on its market pace, also known as Absorption Rate.

Read how McKinney TX homes stack up to other surrounding cities for home sales in the month of August:

• Frisco TX August 2009 Housing Market Report
• Plano TX August 2009 Housing Market Report
• Allen TX August 2009 Housing Market Repot
• McKinney TX August 2009 Housing Market Report

View Just Listed McKinney TX homes for sale:

Create a profile to receive property alerts, save searches and track your dream home as it comes on the market. Click on Get Listing Updates at the right corner above the map.

Related Articles

• Zero Down Payment, Zero Closing Costs Affordability based loan program
• What every real estate buyer needs to know when buying in these times