The 2018 real estate market in Celina, Texas reflected a bustling and competitive landscape, with notable growth in new construction sales and steady demand for properties with premium features like pools. This analysis explores metrics that highlight market pricing, efficiency, and the impact of fluctuating mortgage rates.

Total Homes Closed

A total of 772 homes closed during 2018, reflecting a marked growth in sales. New construction homes accounted for a significant portion, with 507 properties, highlighting strong development activity. Additionally, 45 homes with pools sold, showcasing persistent demand for luxury amenities.

Property Pricing Insights

• Minimum Price: $90,000
• Maximum Price: $2,000,000
• Average Price: $401,964
• Median Price: $375,462

The median price reflects a balanced market where most homes fell into the mid-range pricing category, despite high-end outliers.

Property Size and Features

Bedrooms

• Average: 4 bedrooms
• Median: 4 bedrooms
• Range: 2 to 6 bedrooms

Bathrooms

• Average: 3 bathrooms
• Median: 3 bathrooms
• Range: 1 to 8 bathrooms

Square Footage

• Average: 2,981 sqft
• Median: 2,948 sqft
• Range: 713 sqft to 6,811 sqft

Lot Size

• Average: 0.457 acres
• Median: 0.16 acres
• Range: 0.14 acres to 24.495 acres

Market Dynamics

• Average Days on Market (DOM): Homes stayed on the market for an average of 89 days, with some properties experiencing significantly longer listings.
• Close Price to Listing Price (ClsPr/LstPr): Homes sold, on average, for 96.77% of their listing price, demonstrating robust buyer activity and market confidence.
• Average Close Price to Original Listing Price (ClsPr/OLP): The ratio stood at 94.98%, indicating that sellers adjusted expectations in response to market conditions.
• Average Price Per Square Foot: Prices averaged at $135.30 per sqft, signaling a slight but consistent property value appreciation.

Economic context

Average Electricity Costs in Dallas-Fort Worth in 2018

Electricity prices increased to $0.13 per kilowatt-hour in 2018, compared to $0.12 in 2017. This climb likely drove demand for energy-efficient housing and renovations, placing greater emphasis on properties with modern upgrades that helped households manage increasing utility costs.

Average Price for Regular Gasoline in Texas in 2018

Gas prices also rose, reaching $2.44 per gallon in 2018, up from $2.19 in 2017. With transportation becoming more expensive, proximity to workplaces and public transportation remained important for homebuyers. Walkable neighborhoods and mixed-use developments gained traction during this period.

Average 30-Year Fixed Mortgage Rate in 2018

Mortgage rates climbed to 4.70% in 2018, from 4.14% in the previous year. For many homebuyers, this level of interest rate signaled urgency to act before rates increased further. Getting pre-approved by a local mortgage loan originator was pivotal for navigating the pressures of a market increasingly shaped by rising rates.

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Summary of Real Estate Market Analysis for Celina, TX in 2018

The 2018 Celina, Texas real estate market was a dynamic and eventful year, characterized by a notable increase in closed sales, robust new construction activity, and steady appreciation in property values. With rising mortgage rates and a diverse range of property options available, the market presented unique opportunities and challenges for buyers and sellers alike.

Homebuyers and First-Time Homebuyers Perspective

For homebuyers, 2018 offered a range of options from competitively priced homes to luxury properties in expansive lots. While the average sales price and mortgage rates were on the rise, the availability of new construction homes presented an appealing opportunity for those seeking modern features. First-time homebuyers faced hurdles with affordability, as rising interest rates tightened budgets. For these buyers, mortgage pre-approval proved essential in improving their purchasing power and competing effectively in a busy market. By being pre-approved, buyers gained a clear understanding of their financial boundaries, streamlining the home search process.

Home-Sellers Perspective

Home-sellers benefited significantly in 2018, with a 96.77% close price-to-list price ratio showcasing strong buyer demand. The growing interest in new construction and homes with value-added amenities like pools highlighted the market’s willingness to invest in unique properties. However, strategic pricing was crucial, especially for high-end homes and niche markets, where extended days on market could affect the property’s perceived value. Sellers who partnered with knowledgeable realtors in Celina and adopted competitive pricing and marketing strategies were able to capitalize on the year’s upward trends effectively.

Final Thoughts

The 2018 real estate market in Celina, TX was a reflection of growth, resilience, and opportunity. While homebuyers contended with rising property values and interest rates, mortgage pre-approval empowered them to make informed decisions. For sellers, the year presented numerous advantages, particularly for those who understood the importance of pricing accurately to attract motivated buyers. Looking ahead, Celina’s evolving landscape and sustained buyer interest indicate a promising future for both buyers and sellers who adapt strategically to the market’s dynamics.

Why Historical Statistical Data Matters in the Celina, Texas Real Estate Market

Did you know that Appraisers and Realtors rely on historical statistical data to determine a property’s current value?

The information presented above is just a small glimpse into the wealth of essential data available to help both homebuyers and sellers set realistic expectations and gain an initial understanding of the real estate market in Celina, Texas. Real estate transactions are intricate, and what you see here is merely a sample of the many factors at play in each deal in this city.

Beyond these insights, a comprehensive analysis is available that focuses on specific aspects like zip codes, neighborhoods, and homes within certain school districts in Celina. This granular data dives deeper into market trends, allowing for a precise understanding of local dynamics. Additionally, historical data plays a critical role in crafting informed strategies, providing the context needed to make confident decisions that align with your goals.

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