The 2013 Celina, Texas real estate market showcased steady activity, with 180 homes sold and a notable reduction in average days on market. Buyers and sellers navigated shifting dynamics amidst moderating mortgage rates and increasing property price appreciation. This analysis dives deep into the notable trends, market drivers, and outlier properties that defined the year’s real estate performance.

Total Homes Closed

A total of 180 homes closed in 2013, including 31 new construction homes, emphasizing ongoing housing development in the area. Additionally, 19 homes featured pools, reflecting moderate demand for lifestyle-enhancing amenities.

Property Pricing Insights

• Minimum Price: $35,000
• Maximum Price: $685,000
• Average Price: $238,224
• Median Price: $211,698

The pricing spread reveals that while the lower-end market provided cost-efficient options, the high-end spectrum focused on rural luxury estates. The average price fell slightly from 2012 but remained robust overall.

Property Size and Features

• Bedrooms: Homes averaged 4 bedrooms, with 3 as the most common.
• Bathrooms: Most homes included 3 bathrooms, offering ample comfort for families.
• Square Footage: Properties averaged 2,637 square feet, with a median size of 2,519 sq. ft.
• Lot Size: The average lot size of 1.223 acres highlighted the availability of both suburban and rural properties, appealing to diverse buyer needs.

Market Dynamics

• Days on Market (DOM): The average DOM was 65 days, improving significantly compared to previous years, indicating stronger demand and faster sales.
• ClsPr/LstPr Ratio: The close price to listing price ratio averaged 96.28%, reflecting consistent pricing strategies aligning with buyer expectations.
• ClsPr/OLP Ratio: The close price to original listing price ratio nearly matched at 94.59%, suggesting minimal price adjustments were needed to finalize sales.
• Price Per Square Foot: At $89.23, this metric continued its upward trajectory, signaling property appreciation even with slight decreases in transaction totals.

Economic context

Average Electricity Costs in Dallas-Fort Worth in 2013

Electricity prices increased to $0.12 per kilowatt-hour in 2013, compared to $0.11 in 2012. This slight rise might have led consumers to reassess their energy usage and consider more energy-efficient homes. Real estate agents likely saw growing interest in properties with features like modern insulation or smart energy systems, which could offset rising utility expenses.

Average Price for Regular Gasoline in Texas in 2013

Gas prices decreased to $3.32 per gallon in 2013, down slightly from $3.42 in 2012. This minor drop helped ease transportation costs for homebuyers. With slightly lower fuel expenses, potential buyers may have been more open to properties in suburban areas, especially if housing prices were more competitive than in urban locations.

Average 30-Year Fixed Mortgage Rate in 2013

Mortgage rates inched up to 4.16% in 2013 from 3.88% in the prior year. While the increase wasn’t drastic, it may have nudged some homebuyers to act sooner rather than later to secure financing. Homebuyers are encouraged to work with local mortgage loan originators to ensure they understand their borrowing capabilities and can lock in competitive rates with ease.

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Summary of Real Estate Market Analysis for Celina, TX in 2013

The 2013 Celina, Texas real estate market exhibited a dynamic blend of stability and growth. With solid pricing trends, quicker sales, and a steady demand for diverse property types, it was a pivotal year for buyers and sellers. Both groups had opportunities to achieve their goals, provided they leveraged the right tools, strategies, and expertise.

Homebuyers and First-Time Homebuyers Perspective

For homebuyers, particularly first-time buyers, 2013 presented a competitive but promising landscape. Homes moved quickly, with an average of just 65 days on the market, underscoring the need for preparedness. Securing mortgage pre-approval was a vital first step, ensuring buyers could act decisively when their ideal property came along. Additionally, collaborating with experienced realtors proved invaluable—not only for accessing market insights but also for navigating the complexities of pricing and negotiations. Realtors offered essential guidance, helping buyers secure the right home tailored to their needs and budget.

Home-Sellers Perspective

For home-sellers, the 2013 market underscored the importance of strategic marketing and expert advice. With an average close price to listing price ratio of 96.28%, sellers who priced their homes competitively and worked closely with realtors experienced smoother transactions. Realtors played a critical role in crafting tailored marketing strategies, leveraging networks, and advising on property presentation to attract buyers. These efforts were essential in achieving timely sales, particularly for higher-end or niche properties, such as rural estates.

Final Thoughts

Both homebuyers and home sellers benefited from proactive approach in the 2013 Celina real estate market. For buyers, understanding the importance of financial preparedness and working with trusted professionals shaped their success. For sellers, leveraging the expertise of realtors enabled efficient and profitable outcomes. The year’s market clearly demonstrated the power of knowledge, preparation, and collaboration in driving successful real estate experiences for all participants.

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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