Celina TX Real Estate Market - November 2023
Brent Wells November 28, 2023
Brent Wells November 28, 2023
Welcome to the November 2023 Celina Texas Real Estate Market Update. The data below is from October 2023 and is reported by NTREIS.
As you can see, Celina has experienced a significant drop in the number of listings under contract, right at 24%. The time it takes to sell a home in Celina has doubled. This signifies how important it is to hire the right agent to price and market your Celina Tx home.
The good news is all the media reports screaming about a sell off are wrong. We have seen modest price adjustments due to over-pricing during COVID and the lack of inventory. The price reductions are averaging about 2.5% less than 2022's home prices.
We are definitely seeing a slow down in the Celina real estate market, but it is mainly due to a bad economy and much higher interest rates.
As we enter the next Presidential election cycle we should see lower interest rates and a strengthening of the market.
2022 | 2023 | % Change | |
Closed Sales | 231 | 202 | -12.6 |
Median Sales Price | $585,000 | $568,750 | -2.8 |
Average Sales Price | $635,764 | $619,827 | -2.5 |
Ratio to Original List Price | 102% | 95.7% | -6.2 |
Days On Market | 26 | 52 | 100 |
New Listings | 329 | 280 | -14.9 |
Under Contract | 25 | 19 | -24.0 |
Active Listings | 37 | 55 | 48.7 |
Months Of Inventory | 1.7 | 3.4 | 99.4 |
*** We base our predictions on data from our local MLS for the previous month year to date sales.
Stay up to date on the latest real estate trends.
If you're not already familiar with the Celina story, the numbers speak for themselves.
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