The Celina, Texas real estate market in 2014 experienced notable growth and diversification. With higher sales volume, increased property values, and improved market efficiency, this year marked a robust period for both homebuyers and home sellers. This analysis explores the year’s major trends, offering in-depth insights into property prices, features, and market dynamics.
Key Takeaways and Trends from the 2014 Real Estate Market in Celina, TX
Pricing Range
The year saw an increased average sales price and a higher price per square foot, reflecting a clear appreciation in property values. HomeBuyers were willing to invest more for quality homes that met their needs.
Market Efficiency
A reduction in average days on market, alongside an improved close price to listing price ratio, signaled stronger demand and heightened buyer competition.
Unique Outliers
The year’s most expensive property, priced at $1,450,000, represented a luxurious offering distinct in its design and features. Such high-end properties carved a niche in the market.
Mortgage Rates Impact
The slight increase in average mortgage rates to 4.31% may have influenced affordability, particularly for first-time buyers. However, overall sales growth suggests the impact was moderate.
Total Homes Closed
A total of 271 residential single-family homes were sold, marking a significant increase from previous years.
- New Construction Homes accounted for 78 of these, reflecting developer confidence and strong buyer demand for modern homes.
- Homes with Pools reached a notable 43, suggesting heightened interest in luxury amenities.
Property Pricing Insights
- Minimum Price: $47,000
- Maximum Price: $1,450,000
- Average Price: $318,900
- Median Price: $292,000
These figures reveal broad pricing diversity, accommodating a wide range of buyer budgets.
Property Size and Features
- Average Bedrooms: 4
- Average Bathrooms: 3 (including 1 half bath per property on average)
- Average Square Footage: 2,990 sq.ft.
- Average Lot Size: 1.55 acres
The market offered generously sized homes, ideal for families and buyers seeking extra space.
Market Dynamics
- Average Days on Market (DOM): 64, a decrease from past years, highlighting faster sales.
- Average Close Price to Listing Price Ratio (ClsPr/LstPr): 97.04%, an improvement in pricing alignment.
- Average Close Price to Original Listing Price Ratio (ClsPr/OLP): 96.11%, indicative of realistic seller expectations.
- Average Price Per Square Foot (Pr$/SqFt): $102.75, reflecting increased buyer willingness to pay for quality homes.
Insights into the Most Expensive Celina, TX Property Sold in 2014
The most expensive home sold in 2014 was a lavish custom estate ideal for high-end buyers. Key metrics include:
- Price: $1,450,000
- Bedrooms: 6
- Bathrooms: 6 (5 full, 1 half)
- Square Footage: 7,564 sq.ft.
- Lot Size: 3.45 acres
- Price Per Square Foot: $191.70
- Close Price to Listing Price Ratio (ClsPr/LstPr): 80.78%
- Close Price to Original Listing Price Ratio (ClsPr/OLP): 80.78%
- Days on Market (DOM): 81
- Year Built: 2003 (remodeled in 2013)
This custom built property, complete with a pool, spa, gazebo, and multi-generational guest house, emphasized the demand for large, feature-rich residences. Its sale helped define the upper end of the market, boosting average property values and solidifying demand at higher pricing tiers.
Economic context
Average Electricity Costs in Dallas-Fort Worth in 2014
Electricity prices rose slightly to $0.13 per kilowatt-hour in 2014, up from $0.12 in 2013. This gradual increase added pressure to household budgets, further emphasizing the demand for energy-efficient properties. Sellers with homes featuring solar panels or updated appliances likely had an edge in the real estate market.
Average Price for Regular Gasoline in Texas in 2014
Gas prices decreased to $3.15 per gallon in 2014, down from $3.32 in 2013. Lower fuel costs may have encouraged homebuyers to look at properties in outer suburban areas, knowing transportation expenses were more manageable. This shift could have spurred demand in regions where homes were larger and more economical than urban alternatives.
Average 30-Year Fixed Mortgage Rate in 2014
Mortgage rates edged up to 4.31% in 2014 from the previous year’s 4.16%. This small increase emphasized the importance of timing in home purchases, as homebuyers aimed to lock in favorable terms before rates rose further. Securing pre-approval with a local mortgage loan originator remained a vital step for buyers to gain financial clarity during the purchasing process.
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Overview of Differences Between the 2014 and 2013 Real Estate Markets in Celina, Texas
Total Homes Sold
2013: 180 homes sold.
2014: 271 homes sold, an increase of 91 homes, reflecting a 50.5% rise in real estate activity and higher market demand.
Homes with Pools
2013: 19 properties.
2014: 43 properties, showing a substantial rise in demand for premium amenities like pools.
New Construction Homes
2013: 31 properties.
2014: 78 properties, emphasizing a growing interest in modern, newly built homes
Average Sales Price
2013: $238,224.
2014: $318,900, a significant $80,676 increase (33.9%) in average home prices, showcasing an upward trend in property values.
Average Days on Market (DOM)
2013: 65 days.
2014: 64 days, showing a slightly faster market turnaround, indicating continued market efficiency.
Average Close Price to Listing Price Ratio (ClsPr/LstPr)
2013: 96.28%.
2014: 97.04%, an improvement in sellers achieving closer to their listing prices, driven by competitive demand.
Average Price Per Square Foot (Pr$/SqFt)
2013: $89.23.
2014: $102.75, an increase of $13.52 (15.1%), reflecting rising property valuations and buyers willing to pay more per unit of space.
Highest Sale Price
2013: $685,000 for a custom country estate.
2014: $1,450,000 for a luxury home with extensive amenities, illustrating a shift in the market to high-end property transactions.
Economic Conditions
2013: Average 30-year mortgage rate at 4.16%.
2014: Average 30-year mortgage rate edged up to 4.31%, slightly increasing financing costs but not enough to dampen market enthusiasm.
Notable Trends and Market Dynamics:
- The number of homes sold surged by 91 homes in 2014, reflecting a much more dynamic and robust real estate market.
- Upward trends in average sale price and price per square foot point to significant property appreciation between the two years.
- The faster days on market and higher close-to-list price ratios in 2014 indicate strong buyer demand and a competitive market.
- Increased new construction and pool-equipped properties suggest a growing interest in modern and upscale housing options.
- Economic factors like slightly higher mortgage rates did not hinder the market’s growth, showcasing sustained buyer confidence.
Summary of Real Estate Market Analysis for Celina, TX in 2014
The 2014 real estate market in Celina, TX showcased significant growth, marked by rising home values, faster transaction times, and diversified buyer preferences. With 271 homes sold, including a notable number of new construction properties and pool-equipped homes, the market reflected both strong demand and evolving needs. This dynamic year offered opportunities for both buyers and sellers, underscoring the importance of preparation and strategy in navigating the real estate landscape.
Homebuyers and First-Time Homebuyers Perspective
For homebuyers, especially first-time purchasers, 2014 provided a mix of challenges and opportunities. Rising average home prices and increased price-per-square-foot values required buyers to act decisively and budget wisely. First-time homebuyers benefitted from a range of property options while needing to keep a close eye on mortgage rates, which slightly increased to 4.31%. Knowledge of market trends and working with an experienced real estate agent proved essential in securing the right property within the fast-moving market.
Home-Sellers Perspective
Home Sellers in 2014 reaped the rewards of stronger market conditions and heightened demand. Reduced days on market and improved close-to-list price ratios demonstrated the market’s efficiency, allowing sellers to achieve competitive outcomes with shorter timelines. Properties with sought-after features like pools and modern amenities gained significant attention, further validating the importance of strategic pricing and professional marketing support. Sellers who prepared their homes effectively were poised to maximize their returns.
Final Thoughts
The 2014 Celina real estate market was a testament to the value of preparation, informed decision-making, and collaboration with seasoned real estate professionals. Buyers navigated a competitive landscape by leveraging market insights, while sellers thrived under favorable conditions by showcasing their properties effectively. For all participants, the year’s success underscored the importance of staying informed and adaptable in a dynamic market environment.
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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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
2021-Present
Celina, TX Real Estate Market Report 2021: Analysis and Trends
Celina, TX Real Estate Market Report 2022: Analysis and Trends
Celina, TX Real Estate Market Report 2023: Analysis and Trends
Celina, TX Real Estate Market Report 2024: 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.