The Celina, Texas real estate market in 2017 showcased an impressive surge in activity, underlined by a significant rise in homes sold as well as notable shifts in pricing and property dynamics. This analysis explores the year’s pivotal trends, offering in-depth insights into property prices, key features, and market dynamics.

Total Homes Closed

A total of 645 residential single-family properties closed in Celina, TX during 2017, showcasing a 55% increase compared to the 416 homes sold in 2016.

• New Construction Homes: 386, indicating strong developer activity and a preference among buyers for modern construction.
• Homes with Pools: 49, reflecting an uptick in demand for homes featuring leisure-oriented amenities.

Property Pricing Insights

• Minimum Price: $63,000
• Maximum Price: $2,979,900
• Average Price: $409,658
• Median Price: $377,000

The substantial jump in average sales price is indicative of not only market appreciation but also an increased composition of upscale properties in the sales mix.

Property Size and Features

• Bedrooms: The average home offered 4 bedrooms, with larger options catering to diverse family sizes.
• Bathrooms: An average of 3 bathrooms provided ample space and comfort for modern households.
• Square Footage: Homes averaged 3,061 sqft, maintaining a balance between livability and luxury.
• Lot Size: At an average of 0.732 acres, properties provided a variety of outdoor spaces, catering to both urban and suburban preferences.

Market Dynamics

• Days on Market (DOM): Averaged 82 days, signaling a moderately paced environment for sellers.
• Average ClsPr/LstPr (Close Price to Listing Price): 96.53%, reinforcing effective pricing strategies and strong buyer interest.
• Average ClsPr/OLP (Close Price to Original Listing Price): 94.19%, suggesting occasional price corrections but overall market stability.
• Average Price per Square Foot: $133.71, showcasing incremental appreciation in property values and buyer willingness to pay more for quality construction.

Economic context

Average Electricity Costs in Dallas-Fort Worth in 2017

Electricity prices rose to $0.12 per kilowatt-hour in 2017, after a year at $0.11. This small uptick likely reignited interest in smaller homes or energy-efficient features. homebuyers remained cautious about properties with older energy systems, viewing them as less desirable long-term investments.

Average Price for Regular Gasoline in Texas in 2017

Gas prices increased to $2.19 per gallon in 2017, up from $1.91 in 2016. While still relatively affordable, the rise may have led homebuyers to reconsider the financial trade-offs of suburban living. Proximity to public transportation hubs became a more significant factor during housing searches.

Average 30-Year Fixed Mortgage Rate in 2017

Mortgage rates rose to 4.14% in 2017, up from 3.79% the year prior. The return of higher rates reminded homebuyers of the importance of locking in favorable financing terms early. Pre-approval through local mortgage loan originators remained vital to navigating the shifting landscape effectively and with confidence.

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Summary of Real Estate Market Analysis for Celina, TX in 2017

The 2017 Celina, Texas real estate market marked a year of remarkable growth and activity. With a 55% increase in closed transactions compared to the previous year, it was clear that both supply and demand were thriving. The market provided opportunities for a wide range of buyers and sellers, from entry-level homes to luxury estates, supported by a robust inventory and rising property values. The involvement of experienced realtors played a pivotal role in navigating this dynamic environment effectively.

Homebuyers and First-Time Homebuyers Perspective

For homebuyers, particularly first-time buyers, 2017 offered a variety of opportunities but also posed challenges. Rising home prices and mortgage rates tested budgets, especially for those entering the market for the first time. However, the diverse selection of properties, including new construction and homes with modern amenities, created appealing choices for many buyers. First-time homebuyers who prioritized mortgage pre-approval and worked closely with knowledgeable realtors were better positioned to act quickly and confidently, ensuring they made sound decisions in a competitive market.

Home-Sellers Perspective

For home-sellers, 2017 proved to be an advantageous year, with rising home prices and strong buyer demand. Homes sold at an average of 96.53% of their listing price, underscoring the effective pricing strategies and the desirability of properties in Celina. Sellers who aligned with experienced realtors benefited greatly from expert marketing advice and strategies that showcased their homes’ unique features. The growth in new construction and the inclusion of homes with luxury amenities like pools gave sellers the opportunity to captivate buyers searching for high-quality options.

Final Thoughts

The 2017 real estate market in Celina, TX highlighted the importance of being prepared and well-informed for both buyers and sellers. Buyers needed to adapt to rising costs by securing pre-approval and working with trusted realtors to find the best opportunities, while sellers leveraged a growing market with the help of experienced professionals to optimize their sales. Looking forward, the trends of growth and modernization signal a promising future for the Celina real estate market 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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