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Dallas City Wire

Sunday, December 22, 2024

Collin County home prices fall in October 2024 compared to October 2023

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Stacey Kemp, Clerk of Collin County | https://www.txdirectory.com/

Stacey Kemp, Clerk of Collin County | https://www.txdirectory.com/

In October, the median sale price of a home in Collin County fell by $4,531 from the same period in the previous year, while total sales increased by 34.3%, according to BlockShopper.com.

There were 888 homes sold in October, with a median sale price of $325,510 — a 1.4% decrease from the $330,041 median sale price during the same period of the previous year. In comparison, 661 homes were sold in Collin County in October 2023.

Based on the latest available data from 2019, the median sales tax in Collin County was $6,188, which stands at 1.9% of October's median home sale price.

The U.S. housing market has soared in recent years, with its total value nearing $50 trillion in 2024. This is almost five times greater than the market's value in 2000.

“The value of America’s housing market will likely cross the $50 trillion threshold in the next 12 months as there are not enough homes being listed to push prices down,” said Redfin Economics Research Lead Chen Zhao.

The following histogram displays changes in median sales prices in Collin County from October 2023 to October 2024.

October 2023November 2023December 2023January 2024February 2024March 2024April 2024May 2024June 2024July 2024August 2024September 2024October 2024$330,041$330,041$316,093$316,093$320,456$320,456$314,784$314,784$324,106$324,106$325,424$325,424$317,799$317,799$324,985$324,985$329,014$329,014$319,800$319,800$320,384$320,384$314,000$314,000$325,510$325,510