The demand for houses in Collin County continues to rise, even as the area recorded a 5.3% decrease in median sales price year over year in June.

The gist

The county saw a median sales price of $539,580 compared to $569,500 in June 2022, according to a Collin County Association of Realtors news release. Despite the price drop, the county’s months supply of homes for sale indicates a strong seller’s market.
More than two months of supply were available in June. A market is considered balanced when there is a six-month supply of homes for sale, according to the news release.

Collin County also saw a 22.7% decrease in new listings, while houses took 19 days longer on average to sell compared to 2022.
Quote of note

“Buyers continue to find more negotiating power in 2023 as homes remained on the market longer and sold for less than they would one year ago,” association President Shana Acquisto said in a statement. “However, buyers who have been waiting on the sidelines have noticed, and not only has the number of homes under contract increased, but the overall demand for homes in the area continues to rise.”

What else

McKinney, Frisco and Celina saw decreases in median sales prices in June compared to the year before, according to data provided by the association. Plano, Prosper and Richardson saw increases in sales prices.

Each city saw a decrease in the median percentage of original price received. Each city except Celina saw a decrease in new listings when comparing June 2022 to June 2023.