Comparing sales activity through May in the major cities of Collin County, Roxanne Deberry indicates that there has been a sales decline of approximately 14 percent to 31 percent over the same period of last year.

New listing inventory has dropped from 13 percent to 20 percent in these areas and cities such as Allen and Frisco have seen average price increases of 4 percent to 8 percent respectively, whereas Plano and McKinney have seen a slight price decrease.

In Roxanne's opinion, lack of inventory will cause prices to rise in some areas, while cities with an abundance of inventory will see lower or relatively flat prices.

She says the bright spot for this market is that the economy is extremely good compared to the rest of the country.

And since new home construction has been reduced a lack of competition creates more opportunity for pre-owned homes to be sold.

New homes are very competitive with existing inventory, which also helps keep prices in check.

Roxanne says that due to the projected growth of Collin County over the next 25 years and the availability of inventory, this area will continue to attract home buyers.

For more information on this market, contact Roxanne Deberry at:
thedeberryteam.com.

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Published: June 30, 2008

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