Thursday, November 30, 2017

The State of The North Texas Real Estate Market

Clients and Friends,

This month the market is apparently slowing in the DFW northern suburbs. In tracking this trend, we looked at changes from September to October and noted that in Plano and McKinney the DOM, Days on the Market, were up substantially over a month’s period. Frisco's DOM were up only slightly, while in Allen, we noted a slight decrease. Looking at the months of inventory, the range is from 2.5 to 3.5, with Plano being the lowest and McKinney the highest. Frisco and McKinney have the highest number of new homes.  That can more than likely accounts for their higher inventory numbers. Prices continue to go up month to month, but the rate of increase has definitely slowed. As the inventory has gone up, the DOM has gone up, as well, and it is taking longer to sell a given home. Of course, with the advent of the Holiday season, this certainly plays a part, but affordability is also a part of the “equation slowdown”. In the spring, I recall standing in line behind as many as eight other Realtors waiting to see a house in the $250K- $350K price range. That is no longer happening. Take Plano as an example, our daily monitoring of the market shows as many price reductions as new homes coming on the market.  That certainly says something about the market slowdown.

Looking at the overall Allen, Frisco, McKinney, Plano year over year results, we focus on a few key indicators:

  •        We find Allen's DOM as of October 2017 vs. the same month in 2016 shows a 6.4% increase.
  •        Frisco’s data during the same time frame shows a 16% increase in DOM.
  •         McKinney data shows a 27% increase 2017 vs a 2016 in DOM
  •        Plano shows a 12% increase in this same time frame.
All of these data points indicate that it takes longer to sell a home in 2017, statistically, than it did in 2016. All of the targeted suburbs have increased inventory versus last year at the same time. These stats show increases from 13% to 50%. The increase in inventories certainly plays a part in the changing market dynamics. We believe the housing affordability will play an even greater part in the market as we enter 2018. For more expert analysis on our local North Texas Real Estate Market, call me!  I love to crunch numbers.

Have a wonderful Holiday Season and we look forward to speaking with you soon!

Nancie Przada, GRI, ABR, CNHS, SRES
Licensed Texas Realtors
Keller Williams Realty
"Housing Cents" @TEAM-PRZADA
A Five Star Professional Realty Team
as noted in May 2012, 2013, 2014, 2015, 2016, 2017 Texas Monthly
Top 50 Plano Realtor as selected by Plano Magazine 2015

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Thursday, November 9, 2017

Thanksgiving Menu at OUR House!

Oh joyful, wonderful time of year.  We LOVE the fall and all that comes with it, especially Thanksgiving.  With that said, it IS time to start planning your menu, looking to Pinterest for pinspiration, making "to do"lists, and deciding upon our table centerpieces.  

Well, I CAN cross ONE thing of my list.  The MENU.  This is our menu for Thanksgiving 2017...and, almost every year we have hosted that has preceded this one, plus or minus an item or two.  We seem to do a light edit each year, but this is the current roster, and oh, I am SO EXCITED!!  Some of the entries are "all-stars", tried & true, some are the flashy "johnny-come-lately" star turns, some are "rookies" making their debut on our 2017 Thanksgiving Menu!

Let me tell you.... Addie's Southern Dressing is to die for.  It is a family tradition, started by my Dear Grandmother Addie, and continued by my Dear Mama, Nancie! Let's just say you will have to contact Nancie directly to get the recipe...and that's IF she will let it out of "the vault." But suffice it to say, it IS a family favorite!  Here is a peek....cornbread, toasted wheat bread, mushrooms, diced hard-boiled egg, pecans, poultry season, celery & a few dried cranberries to add a bit of sweet to play against all that savory!  Nancie's Homemade Mac & Cheese is also a family favorite, and just about TOP SECRET, you may have to apply for top level clearance for the details on that one, too, but many of the oh-so-delicious recipes, can be found on TEAM-PRZADA's  Pinterest Board, Thanksgiving at OUR House! Check it out, as well as our other boards for recipes and ideas for entertaining, home improvement, design inspiration, DIY, local area interests, and more! 

One more word of note, Michael & Luke's FAVorite Trailercake Cupcakes come from Trailercakes Cupcakes in Dallas.  They have been a long-time Urban family staple for special days.  We happened to discover them at the Dallas Museum of Arts' Summer Block Party quite a few years ago.  They have the most FABulous silver air-stream trailer that they load up with their heavenly cupcakes and travel to food truck events!  Do yourself a favor and check them out!  "Slap Yo Mama" Chocolate, "Hitched," (white wedding cake & white icing), and "Caramel Eileen," (sea-salted caramel topped with a pretzel) make our Thanksgiving cut. 

WE hope you and yours have a fantastic Thanksgiving and you are able to soak in peace, comfort, and love during this special time of year!  

Wednesday, November 1, 2017

Price Improvement!

Check it out! 3800 Nantucket Drive in Plano is now listed at $485,000!  

This home has so much to offer, call TEAM-PRZADA today.