The 2021 real estate market in Celina, TX experienced notable transformations shaped by the continuing impact of the COVID-19 pandemic in its second year. A growing demand for spacious homes and outdoor amenities drove a sharp increase in average home prices, while properties spent significantly less time on the market. This analysis delves into the key trends, pricing shifts, and standout properties, providing a detailed overview of the market’s evolving dynamics.
Key Takeaways and Trends from the 2021 Real Estate Market in Celina, TX
Pricing Range
Home prices ranged from $140,000 to $2,459,000, with a notable increase in average and median prices compared to the years prior. These figures highlight increased housing demand and overall price appreciation.
Market Efficiency
Listings sold at record speeds, averaging 24 days on the market, a significant drop from previous years. Many properties achieved or exceeded listing prices, reflecting high market competitiveness.
Unique Outliers
High-value unique homes dominated headlines, such as the most expensive property sold at $2,459,000. This custom-built, sprawling home featured over 27 acres and luxury amenities, providing a stark contrast to the market’s median home profile.
Mortgage Rate Impact
A continued decline in the 30-year fixed mortgage rate to an average of 3.15% in 2021 prompted homebuyers to take advantage of affordable financing, amplifying competition and supporting higher sale prices.
Total Homes Closed
A total of 1,025 homes were sold during 2021. Among these sales, new construction homes accounted for 393, demonstrating a solid interest in modern builds. Additionally, 72 properties with pools were sold, marking an upward trend as buyers continued to value outdoor living options.
Property Pricing Insights
- Minimum Price: $140,000
- Maximum Price: $2,459,000
- Average Price: $533,977
- Median Price: $494,432
These figures highlight the broad scope of the market, spanning attainable homes to luxury estates. Average and median prices surged significantly year-over-year, emphasizing overall demand.
Property Size and Features
- Bedrooms: Averaged 4, with ranges from 1 to 6.
- Bathrooms: Averaged 3, with a maximum of 8.
- Square Footage: Properties averaged 2,839 sq. ft., with the largest spanning 5,957 sq. ft.
- Lot Size: Median lot size was 0.162 acres, with some estates extending up to 27.73 acres.
Families sought more spacious layouts and outdoor acreage, leading to demand growth in distinctly larger properties.
Market Dynamics
- Days on Market (DOM): Averaged 24 days, reflecting faster transactions.
- Average Close Price to Listing Price (ClsPr/LstPr): 102.26%, indicating competitive bidding with many buyers paying above the listed price.
- Average Close Price to Original Listing Price (ClsPr/OLP): 105.57%, showing that even properties with reduced list prices often sold above initial valuations.
- Average Price Per Square Foot: $188.34, reinforcing rising valuations across all home types.
Insights into the Most Expensive Celina, TX Property Sold in 2021
The most expensive sale of the year was a luxurious custom-built home sold for $2,459,000. Spanning 27 acres, this 3-story home featured unmatched luxury with hardwood floors, vaulted ceilings, and four balconies. Additional amenities included a 3-acre stocked pond with a dock and a 4,000 sq. ft. barn.
Property Highlights
- Price: $2,459,000
- Beds/Baths: 5 beds, 4 baths (3 full, 1 half)
- Square Footage: 5,391 sq. ft. ($456.13 per sq. ft.)
- Lot Size: 27.73 acres
- DOM: 108 days
- ClsPr/LstPr: 98.56%
- ClsPr/OLP: 98.56%
- Year Built: 1998
This property underlined the demand for exclusive luxury estates with extensive land and premium amenities. While tied to a niche buyer demographic, its sale encouraged market strength in high-value property sectors.
Economic context
Average Electricity Costs in Dallas-Fort Worth in 2021
Electricity prices rose again to $0.14 per kilowatt-hour in 2021, up from $0.13 in 2020. This upward trend in energy costs likely pushed buyers to prioritize homes with efficient heating and cooling systems. Green-certified homes may have seen increased interest as buyers sought to offset higher utility bills.
Average Price for Regular Gasoline in Texas in 2021
Gas prices climbed to $2.65 per gallon in 2021, up from $1.82 in the prior year. This sharp increase put pressure on household budgets, especially for buyers with long commutes. Urban properties or homes in transit-accessible locations likely became more appealing as buyers aimed to minimize transportation expenses.
Average 30-Year Fixed Mortgage Rate in 2021
The average 30-year fixed mortgage rate dropped slightly to 3.15% in 2021, down from 3.38% in 2020. This decline further fueled homebuying demand, making mortgages more affordable despite rising home prices. Potential homebuyers were strongly advised to secure pre-approval through local mortgage loan originators to enhance their financial readiness during highly competitive conditions.
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Overview of Differences Between the 2021 and 2020 Real Estate Markets in Celina, Texas
Total Homes Sold
2020: 1,248
2021: 1,025
Total homes sold decreased by 18%. This change highlights the impact of limited inventory resulting from the pandemic.
Number of Homes with Pools
2020: 64
2021: 72
Sales of homes with pools grew by 13%, emphasizing buyers’ increasing interest in outdoor and leisure features for at-home living.
Number of New Construction Homes
2020: 751
2021: 393
New construction sales declined by 48%, possibly due to supply chain disruptions, labor shortages, or a slowdown in builder completions during 2021.
Average Sales Price
2020: $409,484
2021: $533,977
The average sales price increased by 30%, driven by high demand, historically low mortgage rates, and buyers’ preference for upgraded and larger homes.
Average Days on Market (DOM)
2020: 77 days
2021: 24 days
Homes sold 68% faster in 2021, highlighting a highly competitive market with accelerated transactions due to sustained buyer urgency.
Average Price Per Square Foot
2020: $144.71
2021: $188.34
The price per square foot rose by 30%, reflecting overall property appreciation and limited housing supply elevating individual home values.
Most Expensive Property Sold
2020: $1,575,000 (5 beds, 4 baths, 5,174 sq. ft., $304.41 per sq. ft., 21 acres)
2021: $2,459,000 (5 beds, 4 baths, 5,391 sq. ft., $456.13 per sq. ft., 27.73 acres)
The most expensive property sold increased by 56% in value. This highlights heightened competition in the luxury sector and a demand for unique, estate-style properties with expansive land and exclusive amenities.
Summary of Real Estate Market Analysis for Celina, TX in 2021
The 2021 real estate market in Celina, Texas exemplified resilience and growth amidst ongoing challenges. With a mix of high demand, low inventory, and evolving buyer priorities, the market offered opportunities and posed challenges for both homebuyers and sellers. Experienced realtors played a pivotal role in guiding clients through these complexities, making preparation and expertise more valuable than ever.
Homebuyers and First-Time Homebuyers Perspective
For homebuyers, especially first-time buyers, navigating the market required more than just enthusiasm; it demanded strategy and knowledge. Securing mortgage pre-approval was critical in a competitive environment where homes sold quickly and often above list price. First-time homebuyers benefited immensely from working with skilled realtors who provided insights into pricing, neighborhoods, and bidding strategies. Being well-informed and prepared allowed buyers to make confident decisions, ensuring they could move swiftly in a fast-paced market.
Home-Sellers Perspective
Home sellers in 2021 relied heavily on realtor marketing expertise and strategic advice to position their properties optimally. With demand levels high, experienced realtors guided sellers to set competitive listing prices, stage homes effectively, and attract serious buyers. These efforts translated into faster closings and maximized returns. Sellers greatly benefited from their realtors’ knowledge of market dynamics, ensuring a smooth and profitable home selling process.
Final Thoughts
The 2021 market underscored the importance of preparation and expert guidance for both buyers and sellers. Homebuyers who worked with experienced realtors gained valuable insights and support, helping them stay competitive and informed. Likewise, home-sellers leveraged their realtors’ marketing skills and understanding of buyer behavior to achieve successful outcomes.
Whether buying or selling, being well-prepared was the key to making informed decisions. With the continued support of knowledgeable realtors, individuals were equipped to thrive in a rapidly changing market. This dynamic collaboration between clients and real estate professionals ensured success and contributed to Celina’s flourishing real estate landscape.
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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Greetings! I’m Oleg Sedletsky, and I’m excited to introduce myself as your go-to full-time licensed Texas REALTOR® and Mortgage Loan Originator.
I proudly represent JPAR® – Real Estate Brokerage as a REALTOR® and Utopia Mortgage LLC as a Mortgage Loan Originator! My designations and certifications reflect my dedication to helping you achieve your real estate goals in CELINA, TX and other locations in the vibrant Dallas-Fort Worth area!
Whether you’re a homebuyer or a home seller, the information on this page highlights just a fraction of what’s important to know about the Celina, TX real estate market. Data like this is key to understanding trends, making informed decisions, and achieving your real estate goals.
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A Comprehensive Analysis of Single-Family Residential Housing Market in Celina, TX: 2010 to Present
Discover the trends, stats, and insights shaping Celina’s real estate market year by year!
2010-2020
Celina, TX Real Estate Market Report 2010: Analysis and Trends
Celina, TX Real Estate Market Report 2011: Analysis and Trends
Celina, TX Real Estate Market Report 2012: Analysis and Trends
Celina, TX Real Estate Market Report 2013: Analysis and Trends
Celina, TX Real Estate Market Report 2014: Analysis and Trends
Celina, TX Real Estate Market Report 2015: Analysis and Trends
Celina, TX Real Estate Market Report 2016: Analysis and Trends
Celina, TX Real Estate Market Report 2017: Analysis and Trends
Celina, TX Real Estate Market Report 2018: Analysis and Trends
Celina, TX Real Estate Market Report 2019: Analysis and Trends
Celina, TX Real Estate Market Report 2020: Analysis and Trends
This market analysis is intended solely for educational purposes. This market analysis is based on data sourced from NTREIS, Inc. This analysis is exclusively focused on single-family homes and does not account for other property types. The total number of real estate transactions within the specified period and location may vary. Data accuracy cannot be guaranteed due to potential input errors made by NTREIS users. This market analysis does not account for all new construction home sales. If you need detailed information about recorded property sales or other public records, please contact the appropriate city or county office.