As we have previously reported, each quarter Freddie Mac releases their Home Price Index, tracking national & local statistics. One of the most compelling illustrations of how high values have risen can be found in the above map, reflecting overall state values as a percentage of their increase over Pre-2008 Peak Values. Texas' value, as a whole, ranks 3rd behind North Dakota & Colorado for their percent over Peak Values.
July Numbers from MetroTex for Frisco's home stats are below!
The take-away: - Price up from last year about 2%. - # of homes sold down about 9%. - # of homes listed for sale down
July 2016 •318 – Homes sold, down 9.4 percent from July 2015. •$383,500 – Median sales price for homes, 2.3 percent higher than July 2015. •$424,829 – Average sales price for homes, a 5.3 percent increase. •3.3 – Monthly housing inventory estimate. •36 – Average number of days homes spent on the market in July 2016. •853 – Active home listings on the market in July 2016.
Year-to-Date Market Snapshot •1823 – Homes sold, 0.9 percent lower than the same time frame in 2015. •$776,513,998 – Total dollar volume of sales in Frisco, a 4.4 percent increase over 2015. •$387,500 – Median sales price for homes, a 5.9 percent increase. •$425,954 – Average sales price for homes, a 5.3 percent increase. •41 – Average number of days homes spent on the market. •685 – Average monthly active home listings.
Have Questions about your community or your home? Please give me a call!
For 13 years the Five Star program has conducted market research in 45 markets in order to identify excellent service professionals. Homebuyers & sellers are surveyed and asked to evaluate with whom they have worked. Judged on 10 criteria, these nominations are then elegible for the award. The Christie Cannon Team is thrilled to announce that we have been blessed to receive this award for the 5th year in a row!
For most home buyers, a mortgage is a reality. When it comes to purchasing with-in a buyer's set budget, understanding your interest rate is a critical factor in affordability!
While many have reported the record gains that DFW has seen over the last 5-years have started to slow in their pace of increase, affordability continues to be a real problem for low-to-medium income households.
Our record increases are easily reflected in the latest S&P/Case Shiller Index. With local home prices up over 8.4%, Dallas' increase is almost twice that of the national average of 4.4%. According to the Case Shiller Index, North Texas' record levels are almost 20% higher than our "peak" market in 2007! While many of the economic fundamentals of the North Texas economy remain strong, many in our market are starting to grow weary of the increasing affordability gap. Despite Dallas being among the top three increases in the nation, many experts still consider the North Texas market a bargain compared to many other market areas around the nation. However, we are already starting to see signs of buyers (especially those that are long term residents) growing fatigued with rising sale prices compared to North Texas' more modest historic gains.
CHRISTIE CANNONREALTOR
The Christie Cannon Team
Keller Williams Realty Frisco
469-951-9588: Mobile
Voted as one of the BEST Realtors in D Magazine for 2010-2016
Voted as a Five Star Professional 2012-2016 Texas Monthly Magazine
Name among America's Best Real Estate Agents by Real Trends Magazine
Among the top 250 Real Estate Teams in America as seen in The Wall Street Journal
Case-Shiller posted their Home Price Indices today. Overall, the 20-city composite reflected a .09% gain in May & a 5.2% gain for the last 12 months. According to Case-Shiller, home prices when seasonally adjusted fell by .1% in May.
DFW had a 9% increase in the last year & a 1.3% increase for both May/April & April/March. Seasonally adjusted, these numbers fall to May/April at .5% and April/March at .1%.
In a recent article on the Dallas Business Journal, Candace Carlisle reports that over the last 5 years North Texas home prices have climbed a whopping 43%! As Carlisle reports, the affordability issue continues to create struggles for the DFW market. You can read the full article here!
For more information regarding your local market, please feel free to give us a call!
ChristieCannon REALTOR
The Christie Cannon Team
Keller Williams Frisco TX
469.951.9588: Mobile
972.215.7747: Office
Voted as one of the BEST Realtors in D Magazine for 2010-2016
Voted as a Five Star Professional 2012-2016 Texas Monthly Magazine
Name among America's Best Real Estate Agents by Real Trends Magazine
Christie Cannon & The Christie Cannon Team of KW Frisco named by
D Magazine for the Best Real Estate Agent list in 2016.
Thank you to our amazing clients, colleagues, & outstanding staff!
Christie Cannon & Kevin Cannon were also chosen as a D Magazine Top Residential Real Estate Producers.
We owe a special "thank you" to the Real Estate Community for their recognition, our dedicated staff and agents, & most importantly, to our clients for their confidence & support.
"As a full-time Real Estate agent I truly enjoy providing an exceptional, five star service to my clients. I have been in the industry for 15 years and have an extensive knowledge of the real estate industry. A lot of people have asked what my secret to success has been over the years and there is no "real" secret....it's just providing an outstanding level of service. I believe in offering consultation and assistance beyond just the sale of a home.
I have been fortunate enough to have been blessed with the most amazing team that helps me meet the needs of each of our clients on an individual level. With the help of my team, I can quickly respond to the needs of each of our clients above and beyond just the sale of each home. This high level of service creates a constant communication with clients to keep them up to date on the status of their transaction so I never leave someone wondering. I want to make sure you are completely satisfied throughout your entire transaction and then become your real estate agent for life!
I look forward to hearing from you and assisting you with all of your real estate needs!”
Looking for the latest in national real estate numbers? Here Christie Cannon of Keller Williams Frisco TX discusses some of the latest in real estate trends & real estate market information from the latest National Association of REALTORs reporting.
Looking to find out more about your local market & your specific community?
Please give Christie Cannon & The Christie Cannon Team a call at 469-951-9588
