The 2024 real estate market in Celina, Texas showcases a continued evolution marked by stabilized pricing dynamics, robust new construction activity, and an emphasis on enhanced home features. This analysis delves into key developments, price shifts, and standout properties, providing a clear and insightful overview of the market’s changing landscape.

Total Homes Closed

A total of 1,280 residential single-family homes closed in Celina, TX during 2024. The market saw 760 new construction homes, accounting for over 59% of sales, reflecting builders’ success in drawing buyers. Additionally, 93 homes with pools were sold, showcasing steady demand for high-end home features.

Property Pricing Insights

• Minimum Price: $165,000
• Maximum Price: $3,530,000
• Average Price: $690,070
• Median Price: $649,339

The tightly clustered average and median prices suggest a balanced pricing distribution, with high-end sales contributing significantly but not skewing the overall market.

Property Size and Features

• Bedrooms ranged from 2 to 6, with the average home having 4.
• Bathrooms ranged from 1 to 8, with 4 being the average.
• Square Footage ranged from 646 to 7,161 sq. ft., with an average of 2,981 sq. ft.
• Lot Size averaged 0.28 acres, with a general range of smaller, more manageable lots.

A combination of larger homes and multi-purpose spaces catered to changing household dynamics.

Market Dynamics

• Average DOM increased to 60 days, reflecting a slightly more deliberate buyer’s market.
• Average ClsPr/LstPr (Close Price to Listing Price) was steady at 97.36%, showing consistent pricing accuracy.
• ClsPr/OLP (Close Price to Original Listing Price) averaged 95.91%, indicating some price adjustments before final sales.
• Average Price per Sq. Ft. settled at $231.20, showcasing stable pricing for market inventory.

Economic context

Average Electricity Costs in Dallas-Fort Worth in 2024

Electricity prices rose again to $0.19 per kilowatt-hour in 2024, up from $0.17 in 2023. The steady rise in energy costs underscored the growing value of homes equipped with renewable energy solutions. Energy-conscious designs likely remained a key factor in real estate market trends.

Average Price for Regular Gasoline in Texas in 2024

Gas prices settled slightly lower at $2.86 per gallon in 2024, down from $3.06 in 2023. This decrease, while modest, might have encouraged more exploratory behavior from buyers considering homes in more distant locations. The reduced cost of transportation relieved some financial stress for commuting.

Average 30-Year Fixed Mortgage Rate in 2024

The average 30-year fixed mortgage rate fell marginally to 6.90% in 2024, down from 7.00% in 2023. While still elevated, this slight decline could provide homebuyers with additional opportunities to re-enter the market. Pre-approvals with a local mortgage loan originator remained critical in helping buyers react quickly to evolving financial conditions and maintain a competitive edge.

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Summary of Real Estate Market Analysis for Celina, TX in 2024

The 2024 real estate market in Celina, Texas reflected significant creativity and resilience as buyers and sellers navigated challenges posed by high mortgage rates and shifting market dynamics. Trends such as builder incentives, seller concessions, and innovative financing methods like seller financing and rate buy-downs played a critical role in maintaining robust market activity. The importance of professional guidance and preparation was evident, enabling both buyers and sellers to achieve their goals effectively.

Homebuyers and First-Time Homebuyers Perspective

For homebuyers, especially first-time buyers, 2024 was a year to tread thoughtfully. High mortgage rates underscored the value of being financially prepared, with mortgage pre-approval standing out as an essential first step. Pre-approval not only streamlined the buying process but also demonstrated to sellers that buyers were serious and capable.

Additionally, working with experienced realtors was a major asset for buyers. Realtors provided critical insights into market conditions, financing options, and property values, guiding them toward properties that matched both their needs and budgets. Incentives such as rate buy-downs, assumable mortgages, and flexible builder offers made homeownership more attainable, proving especially beneficial for entry-level buyers.

Home-Sellers Perspective

For home sellers, navigating the 2024 market required strategic decision-making and reliance on expert advice. Home sellers leaned heavily on their realtors for marketing guidance that helped properties stand out. From effective pricing strategies to crafting appealing listings and negotiating favorable terms, realtors played a pivotal role in achieving sellers’ objectives.

The market also urged sellers to adapt by offering concessions, such as covering closing costs or including pre-sale improvements, to attract discerning buyers. Creative solutions, including seller-financed deals, emerged as key strategies to close transactions efficiently. Ultimately, sellers who collaborated closely with knowledgeable real estate agents benefited from targeted approaches that aligned with market demands.

Final Thoughts

Being well-informed and prepared proved crucial for both buyers and sellers in Celina’s evolving real estate landscape. Buyers gained confidence and clarity through mortgage pre-approval and guidance from expert realtors, while sellers relied on their real estate agents’ marketing and negotiation expertise to maximize their opportunities. Realtors’ knowledge and experience were fundamental in navigating the complexities of the market, providing clients with the tools and strategies they needed to succeed.

While high mortgage rates challenged affordability, they also spurred innovative practices such as builder incentives, seller concessions, and alternative financing methods. These trends not only reflected market adaptability but also contributed to a dynamic and opportunity-filled environment. The 2024 market demonstrated the strength of collaboration and strategic decisions, paving the way for continued success in 2025.

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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