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

McKinney TX sold 242 home sales for the month of July 2009. These numbers include single-family homes, condos, duplexes and townhomes in McKinney TX (not only MLS 53 on the local MLS system). Up to 07/31/2009, 1,236 homes sold in Plano Texas for the year. When compared to the same time last year, Plano TX sold 1,403 homes for the same period in 2008. The numbers are UP 9% in number of transactions and real estate value when comparing July of 2008 to July 2009. It is definitely a positive sign of market recovery in McKinney TX.

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 2009: 242 McKinney TX sold homes
for $53,941,980
 

The lowest priced home sold for $35,000 (4-bedroom, 2-bathroom property, 1,426 square feet) in East McKinney TX 75069. It is an older starter home, built in 1925. It was a rehab opportunity for an investor.
 

The most expensive priced home sold for $971,000 (5-bedroom, 5 bathrooms, over 6,100 square feet) in Provine Farms Estates McKinney TX 75070. It is a custom home with backyard living, outdoor kitchen & fireplace, garage apartment, pool and spa. Provine Farms Estates is a gated community in McKinney.
 

The average home in McKinney Texas is 4-bedroom, 3 bathrooms, just over 2,600 square feet and sold for $222,901 in 76 days on the market.

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 = 11 homes (84 days on market, $51/sq.ft.)
Under Contract = 13 homes; DOM = 68 days
AVAILABLE = 22 Homes; DOM = 141 days

$100,001 - $200,000:
SOLD = 128 homes (64 days on market, $79/sq.ft.)
Under Contract = 140 homes; DOM = 61 days
AVAILABLE = 297 Homes DOM = 91 days

$200,001 - $300,000:
SOLD = 61 homes (73 days on market, $85/sq.ft.)
Under Contract = 63 homes; DOM = 95 days
AVAILABLE = 202 Homes DOM = 104 days

$300,001 - $400,000:
SOLD = 22 homes (121 days on market, $97/sq.ft.)
Under Contract = 17 homes; DOM = 163
AVAILABLE = 119 Homes DOM = 131 days

$400,001 - $500,000:
SOLD = 15 homes (92 days on market, $110/sq.ft.)
Under Contract = 6 homes; DOM = 135 days
AVAILABLE = 86 Homes DOM = 137 days

$500,001 - $600,000:
SOLD = 3 homes (133 days on market, $104/sq.ft.)
Under Contract = 4 homes; DOM = 157 days
AVAILABLE = 51 Homes DOM = 155 days

$600,001 - $700,000:
SOLD = 2 homes (197days on market, $101/sq.ft.)
Under Contract = 2 homes; DOM = 54 days
AVAILABLE = 25 Homes DOM = 169 days

$700,001 - $800,000:
SOLD = None
Under Contract = None
AVAILABLE = 12 Homes DOM = 165 days

$800,001 - $900,000:
SOLD = None
Under Contract = 1 home; DOM = 24 days
AVAILABLE = 7 Homes DOM = 217 days

$900,001 - $1,000,000:
SOLD = 1 home (86 days on market, $159/sq.ft.)
Under Contract = None
AVAILABLE = 9 Homes; DOM = 152 days

Over $1 Million:
SOLD = None
Under Contract = None
AVAILABLE = 39 Homes; DOM = 138 days

Real Estate Commentaries based on the above market data:

McKinney TX looked very promising for July 2009. Since March, the housing market in McKinney does not seem to be affected by the doom and gloom news on the media. In fact, July 2009 seems to have turned around when compared to July 2008. This information is positive for McKinney even when compared to other surrounding cities where the July statistics continue to decline.

The biggest and most promising price range for McKinney is the $100,000 - $200,000 then followed by less than $100,000. The $300K-$400K pricing bracket have a larger than normal dip. The luxury homes in McKinney TX continue to be slow, which in turns mean better opportunity for good deals over $300,000 in McKinney. Homes over $300,000 tend to stay on the market at least for 6 months.

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

• Frisco TX July 2009 Home Market Report
• Plano TX July 2009 Housing Market Report

View Just Listed McKinney TX homes for sale:

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Related Articles:

• Frisco TX July 2009 Home Market Report
• Frisco TX June 2009 Housing Report