Prosper, TX Real Estate and Homes For Sale - 2013 Single-Family Residential Housing Analysis

Prosper, TX Real Estate: A Comprehensive Analysis of the 2013 Single-Family Residential Housing Market

The 2013 real estate market in Prosper, Texas witnessed remarkable growth and activity. With 519 single-family homes sold, this year marked increased buyer engagement and larger inventory availability. From dynamic price ranges to outstanding market efficiency and high-value luxury properties, this analysis captures the key insights that shaped the market landscape in 2013.

Key Takeaways and Trends from the 2013 Real Estate Market in Prosper, TX

1. Pricing Range
Prices varied significantly, ranging from $85,000 for entry-level homes to $1,900,000 for a luxury estate. This range reflects Prosper’s diverse market and broad appeal to different buyer demographics.

2. Market Efficiency
Market efficiency improved drastically, with a higher average ClsPr/LstPr ratio of 98.46% and faster turnover times, as the average DOM reduced to just 67 days.

3. Unique Outliers
The most expensive property of 2013, with expansive wooded acreage, a six-car garage, and luxury features, stood out as a unique highlight at $1,900,000.

4. Mortgage Rates Impact
The rise in mortgage rates to 4.16% created marginal cost increases for buyers but did not hinder the surge in home sales or price growth.

Prosper, TX Real Estate and Homes For Sale - 2013 Single-Family Residential Housing Analysis

Total Homes Closed

The year ended with the successful closure of 519 single-family homes, a substantial 37% increase in sales over 2012. Among these sales, buyers showed a strong affinity for the 221 new construction homes, while 72 homes featured private pools, highlighting desirable amenities.

Property Pricing Insights

  • Minimum Price: $85,000
  • Maximum Price: $1,900,000
  • Average Price: $370,029
  • Median Price: $355,000

The higher maximum price and average price both showcase increased demand across all price levels.

Property Size and Features

  • Bedrooms: Homes ranged between 2 and 6 bedrooms, with an average of 4 bedrooms.
  • Bathrooms: Properties featured 1 to 8 bathrooms, while the average home included 4 bathrooms.
  • Square Footage: Total living areas ranged between 882 sq. ft to an expansive 9,451 sq. ft., with the median size being 3,541 sq. ft.
  • Lot Sizes: Properties ranged from compact city lots to a vast 10-acre wooded estate.

Market Dynamics

  • Days on Market (DOM) averaged only 67 days, representing a significant improvement in sales speed compared to 87 days in 2012.
  • ClsPr/LstPr ratio rose to 98.46%, reflecting improved alignment between listing and closing prices.
  • ClsPr/OLP ratio increased to 97.45%, indicating accurate initial pricing strategies.
  • Average Price per SqFt climbed to $105.25, showcasing an appreciation in property value.

Insights into the Most Expensive Prosper, TX Property Sold in 2013

The most luxurious property sold in 2013 made a lasting impression on Prosper’s real estate market:

  • Price: $1,900,000
  • Beds: 5
  • Baths: 8 (5 full, 3 half)
  • Square Footage: 9,451 sq. ft.
  • Price per SqFt: $201.04
  • Lot Size: 10 acres
  • Days on Market (DOM): 115 days
  • ClsPr/LstPr Ratio: 82.61%
  • ClsPr/OLP Ratio: 82.61%
  • Year Built: 2008

Its premium features, such as a six-car garage and a private pool, captured the upper echelon of buyer interest. Though slightly overlisted, the sale of this estate magnifies the evolving demand for unique and expansive luxury homes.

Economic context

Historical Economic Data for Dallas-Fort Worth, 2013

Average Electricity Costs in Dallas-Fort Worth in 2013

Electricity prices increased to $0.12 per kilowatt-hour in 2013, compared to $0.11 in 2012. This slight rise might have led consumers to reassess their energy usage and consider more energy-efficient homes. Real estate agents likely saw growing interest in properties with features like modern insulation or smart energy systems, which could offset rising utility expenses.

Average Price for Regular Gasoline in Texas in 2013

Gas prices decreased to $3.32 per gallon in 2013, down slightly from $3.42 in 2012. This minor drop helped ease transportation costs for homebuyers. With slightly lower fuel expenses, potential buyers may have been more open to properties in suburban areas, especially if housing prices were more competitive than in urban locations.

Average 30-Year Fixed Mortgage Rate in 2013

Mortgage rates inched up to 4.16% in 2013 from 3.88% in the prior year. While the increase wasn’t drastic, it may have nudged some homebuyers to act sooner rather than later to secure financing. Homebuyers are encouraged to work with local mortgage loan originators to ensure they understand their borrowing capabilities and can lock in competitive rates with ease.

Curious about today’s mortgage rates and the home you can comfortably afford?

Submit a no-obligation mortgage application today and get pre-approved to determine your budget and take the first step toward homeownership with confidence.

GET PRE-APPROVED FOR A MORTGAGE

Overview of Differences Between the 2012 and 2013 Real Estate Markets in Prosper, Texas

Volume of Sales

Sales increased significantly from 378 homes in 2012 to 519 homes in 2013, marking a 37% growth in activity.

Pricing

  • Average Price rose from $343,523 in 2012 to $370,029 in 2013, showcasing market appreciation.
  • Minimum Price dropped slightly from $116,375 in 2012 to $85,000 in 2013, expanding affordability for entry-level homes.
  • Maximum Price more than doubled, jumping from $970,000 in 2012 to $1,900,000 in 2013, driven by premium luxury properties.

Market Efficiency

Homes spent an average of 67 days on market (DOM) in 2013, a sharp improvement from 87 days in 2012, highlighting quicker sales.

The ClsPr/LstPr ratio improved from 96.86% in 2012 to 98.46% in 2013, reflecting better alignment between listing and closing prices.

Property Features

  • The average number of bedrooms and bathrooms remained consistent, at 4 bedrooms and 4 bathrooms.
  • Square footage showed minor differences, with a median of 3,541 sq. ft. in 2013 compared to 3,591 sq. ft. in 2012.
  • Largest lot size grew from 6.29 acres in 2012 to an expansive 10 acres in 2013, showcasing availability of larger properties.

Key Takeaway

The 2013 market stood out for its higher sales volume, significant luxury home transactions, and improved market efficiency, setting new benchmarks in Prosper’s real estate landscape.

Summary of Real Estate Market Analysis for Prosper, TX in 2013

The 2013 real estate market in Prosper, Texas demonstrated substantial growth and resilience, driven by higher sales volumes, rising prices, and faster transactions. With 519 homes sold, an increase of 37% from the previous year, the market was vibrant and efficient. Buyers benefited from diverse options ranging from modest starter homes to luxurious estates, while sellers enjoyed strong demand and competitive pricing.

Homebuyers’ Perspective

The increased inventory in 2013 provided homebuyers with a mix of opportunities and challenges. The market offered a wider range of properties, with new construction homes and luxury options becoming more available. However, the rise in average home prices to $370,029 meant buyers needed to act decisively, especially with homes spending an average of just 67 days on the market.

While mortgage rates increased slightly to 4.16%, the market’s competitiveness and varied inventory ensured buyers could still find properties suited to their needs. Whether seeking starter homes or expansive estates, buyers benefited from a dynamic market ready to accommodate a variety of preferences. Strategic planning and the guidance of an experienced realtor could make the process smoother and help secure the best opportunities.

Home-Sellers’ Perspective

For home sellers, 2013 was a golden year to put properties on the market. With demand at a peak and homes selling faster than in 2012, sellers had the upper hand. The improved close price to listing price ratio of 98.46% reflected the accurate pricing strategies being employed, while the uptick in property value, as seen in the average price per square foot of $105.25, favored seller returns.

The luxury market also soared, with properties like the record-breaking $1.9 million estate showcasing the appetite for premium homes. Sellers who leveraged this demand and effectively highlighted their property features were able to capitalize on the year’s market trends. Engaging a realtor with a deep understanding of the local market could further amplify these advantages, ensuring properties received maximum exposure and competitive offers.

Final Thoughts

Overall, 2013 in Prosper, TX was a year of opportunity for both buyers and sellers. With careful planning, an informed approach, and expert guidance, participants in the market were well-positioned to achieve their real estate goals.

The Importance of Statistical Data in Prosper, Texas Real Estate Market

Did you know that Appraisers and Realtors rely on historical statistical data to determine a property’s current value?

The data above is just the beginning. This glimpse into the Prosper, Texas real estate market outlines trends but doesn’t capture the full picture. To truly understand the city’s housing market, you’ll need specific insights like zip code analyses, neighborhood breakdowns, and school-district-focused data. Historical trends and comprehensive analyses arm both homebuyers and home sellers with the tools they need to make decisions confidently.

The insights on this page represent just a small part of the comprehensive real estate services I provide to my clients. Whether you’re a buyer aiming to find your dream home or a seller looking to maximize your property’s value, I provide data-backed strategies tailored to your goals.

Reach out today—I’d love to help you achieve success in Prosper’s vibrant housing market!

Unlock Exceptional Service!

Assistance with all your real estate needs in the Dallas-Fort Worth area is just a click or call away. Reach out at 214-940-8149 or connect through the links below.

Home Buyers Contact Form
HOME SELLERS CONTACT FORM
Apply For A Home Loan

For more information, please visit my contact page.

Meet Your Trusted Realtor and Mortgage Expert in Prosper, Texas!

Oleg Sedletsky REALTOR® and Mortgage Loan Originator in Prosper, TX and Dallas-Fort Worth

Oleg Sedletsky REALTOR® in Prosper, Texas. Call/Text 214.940.8149 

Greetings! I’m Oleg Sedletsky, and I’m excited to introduce myself as your go-to full-time licensed Texas REALTOR® and Mortgage Loan Originator.

I proudly represent JPAR® – Real Estate Brokerage as a REALTOR® and Utopia Mortgage LLC as a Mortgage Loan Originator! My designations and certifications reflect my dedication to helping you achieve your real estate goals in Prosper, TX and other locations in the vibrant Dallas-Fort Worth area!

With my expertise, I’ll provide you with in-depth resources, including detailed market reports and historical data, to help you make confident, well-informed decisions. Fluent in English, Ukrainian, and Russian, I’m here to guide you through every step of the process with personalized support and dedication.

It’s All About You and Your Real Estate Goals!

My mission is to serve you! With my knowledge and expertise, I’m here to help you achieve all your real estate goals!
I’m passionate about helping homebuyers and home-sellers navigate the exciting real estate landscape in Prosper, Texas! Whether you’re searching for your dream home, exploring land options, or looking for commercial properties, my Real Estate Services have you covered.

Contact me today for all your real estate needs in Prosper, Texas! Call/text 214-940-8149

Oleg Sedletsky REALTOR® Designations and Certifications:ABR® - Accredited Buyer's Representative SRS -The Seller Representative SpecialistGRI - The Graduate, REALTOR® InstituteRENE - The Real Estate Negotiation ExpertServing Allen TX, McKinney TX,

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.

by admin

Prosper, TX Real Estate and Homes For Sale - 2012 Single-Family Residential Housing Analysis

Prosper, TX Real Estate: A Comprehensive Analysis of the 2012 Single-Family Residential Housing Market

The 2012 real estate market in Prosper, Texas was a year of notable growth and dynamic trends. Closing with an impressive number of deals and stronger market efficiency, this year set a benchmark in both property diversity and buyer activity. This detailed analysis provides insights into these trends and their relevance in understanding Prosper’s housing market trajectory.

Key Takeaways and Trends from the 2012 Real Estate Market in Prosper, TX

1. Pricing Range
The price spectrum expanded in 2012, with homes ranging from $116,375 to $970,000. The maximum sale price decreased from 2011’s $1,499,000 but still highlights a premium market segment’s presence.

2. Market Efficiency
The market demonstrated efficiency with a slightly higher ClsPr/LstPr ratio of 96.86% and fewer average days on market (87), reflecting enhanced competitiveness across different price tiers.

3. Unique Outliers
The most expensive property stood out with luxury features like a climate-controlled 4-car garage, outdoor living spaces, a pool, spa, and a 50×32 four-stall barn, set on a 6.29-acre lot. This property underscores the appeal of high-end amenities in Prosper.

4. Mortgage Rates Impact
Favorable mortgage rates (3.88%) enhanced buyer affordability, fostering higher sales volume and expanding opportunities for more buyers in the market.

Prosper, TX Real Estate and Homes For Sale - 2012 Single-Family Residential Housing Analysis

Total Homes Closed

A total of 378 residential single-family homes were closed, reflecting a 36% rise from the previous year. Of these, 205 were new construction properties, representing modern build options for homebuyers. Additionally, 55 homes featured pools, catering to lifestyle-focused buyers.

Property Pricing Insights

  • Minimum Price: $116,375
  • Maximum Price: $970,000
  • Average Price: $343,523
  • Median Price: $322,550

Property Size and Features

  • Bedrooms: Properties had between 3 and 6 bedrooms, with an average of 4.
  • Bathrooms: Ranged from 2 to 9, averaging 4 bathrooms.
  • Square Footage: Properties spanned from 1,768 up to 6,295 square feet, with a median size of 3,591 sq. ft.
  • Lot Size: Lot areas ranged from smaller urban parcels to expansive plots of 6.29 acres.

Market Dynamics

  • Days on Market (DOM) averaged 87 days, marking faster sales compared to 2011’s 93 days.
  • ClsPr/LstPr (Close Price to Listing Price): 96.86%, an improvement over 2011.
  • ClsPr/OLP (Close Price to Original Listing Price): 93.72%, reflecting more accurate list pricing from sellers.
  • Average Price per SqFt rose slightly to $96.51, indicating steady demand and value maintenance.

Insights into the Most Expensive Prosper, TX Property Sold in 2012

The most expensive property sold in 2012 showcases luxury living and extensive amenities, contributing significantly to the year’s market dynamics.

  • Price: $970,000
  • Beds: 4
  • Baths: 5 (4 full, 1 half)
  • Square Footage: 5,037 sq. ft.
  • Price per SqFt: $192.57
  • Lot Size: 6.29 acres
  • Days on Market (DOM): 24
  • ClsPr/LstPr Ratio: 97.49%
  • ClsPr/OLP Ratio: 97.49%
  • Year Built: 2002

This property’s quick sale at near-list price illustrates strong demand for premium, amenity-rich homes in Prosper.

Economic context

Historical Economic Data for Dallas-Fort Worth, 2012

Average Electricity Costs in Dallas-Fort Worth in 2012

Electricity prices remained steady at $0.11 per kilowatt-hour in 2012, unchanged from 2011. This stability helped maintain predictability in household budgets, supporting steady investment in real estate. homebuyers could better evaluate prospective homes based on fixed utility costs, encouraging confident decision-making.

Average Price for Regular Gasoline in Texas in 2012

Gas prices rose slightly to $3.42 per gallon in 2012, up from $3.37 in 2011. homebuyers continued to prioritize location and proximity to public transit or work, as elevated gas prices increased commuting expenses. Properties in walkable neighborhoods likely gained more attention during this period.

Average 30-Year Fixed Mortgage Rate in 2012

Mortgage rates dropped significantly to 3.88% in 2012, down from 4.65% the previous year. This marked a historic low that spurred homebuyer activity, particularly for those locking in long-term affordability. Pre-approvals through local mortgage loan originators became an invaluable step in maximizing homebuyer advantages amidst this rate decline.

Curious about today’s mortgage rates and the home you can comfortably afford?

Submit a no-obligation mortgage application today and get pre-approved to determine your budget and take the first step toward homeownership with confidence.

GET PRE-APPROVED FOR A MORTGAGE

Overview of Differences Between the 2011 and 2012 Real Estate Markets in Prosper, Texas

Volume of Sales

Sales saw a notable increase, with 378 homes sold in 2012, compared to 279 homes in 2011, indicating a rise in buyer activity and market demand.

Pricing

  • Average Sales Price slightly decreased from $347,939 in 2011 to $343,523 in 2012, reflecting market stability despite overall growth.
  • Minimum Price dropped from $150,000 in 2011 to $116,375 in 2012, offering more entry-level options for buyers.
  • Maximum Price declined from $1.49M in 2011 to $970,000 in 2012, reflecting fewer ultra-luxury transactions.

Market Efficiency

The average days on market (DOM) improved, decreasing from 93 days in 2011 to 87 days in 2012, showcasing a faster-moving market.
The close price to listing price ratio (ClsPr/LstPr) rose slightly from 95.58% in 2011 to 96.86% in 2012, indicating tighter alignment between seller expectations and buyer offers.

Property Features

  • The average home size experienced a small decline, with 3,516 sq. ft. in 2012 compared to 3,659 sq. ft. in 2011, showing a shift toward moderately sized homes.
  • Bedroom and bathroom counts remained consistent at an average of 4 bedrooms and 4 bathrooms.
  • Lot sizes remained steady, averaging around 0.4 acres, balancing space with practicality.

This comparison highlights a maturing market with increased sales activity, improved efficiency, and slightly reduced pricing, catering to a broader range of buyers while maintaining core property features.

Summary of Real Estate Market Analysis for Prosper, TX in 2012

The 2012 real estate market in Prosper, Texas showcased a dynamic and competitive landscape. With a significant increase in sales activity, lower mortgage rates, and a wide array of property options, it was a year marked by growth and opportunity. Both homebuyers and home-sellers faced unique challenges and advantages as market trends influenced decisions and outcomes. Below, we present insights to help each group better understand the opportunities 2012 brought forward.

Homebuyers Perspective

For homebuyers, 2012 offered a promising yet competitive environment. The year boasted historically low mortgage rates of 3.88%, making homeownership more affordable. The broad pricing spectrum, ranging from entry-level homes at $116,375 to luxury estates at $970,000, ensured there were opportunities for a variety of budgets. However, the relatively fast-moving market, with homes spending an average of just 87 days on the market, required buyers to act quickly.

To succeed, buyers needed to leverage expertise and market insights. Partnering with a knowledgeable real estate professional allowed them to identify properties aligning with their needs and budget while navigating competition effectively.

Home Sellers Perspective

For home-sellers, 2012 presented an optimistic market landscape. The increased buyer demand and enhanced close-to-list price ratio of 96.86% signaled a healthy appetite for fairly priced and well-presented properties. Additionally, homes sold faster than in the previous year, with a median of 55 days on the market, showcasing growing efficiency.

Sellers, however, faced challenges in the upper-tier luxury segment, as maximum sales prices experienced a decline. Highlighting unique property attributes, such as pools, acreage, or modern amenities, and strategically pricing their homes were crucial steps to attract buyers in this competitive environment. Those who partnered with a skilled realtor maximized their chances of securing favorable outcomes and shorter sale timelines.

Final Thoughts

Both homebuyers and home-sellers were positioned for success in Prosper’s 2012 market, provided they adapted to these evolving dynamics. A well-informed strategy, guided by local real estate expertise, allowed both parties to seize the opportunities available in the year’s robust and active housing market.

The Importance of Statistical Data in Prosper, Texas Real Estate Market

Did you know that Appraisers and Realtors rely on historical statistical data to determine a property’s current value?

The data above is just the beginning. This glimpse into the Prosper, Texas real estate market outlines trends but doesn’t capture the full picture. To truly understand the city’s housing market, you’ll need specific insights like zip code analyses, neighborhood breakdowns, and school-district-focused data. Historical trends and comprehensive analyses arm both homebuyers and home sellers with the tools they need to make decisions confidently.

The insights on this page represent just a small part of the comprehensive real estate services I provide to my clients. Whether you’re a buyer aiming to find your dream home or a seller looking to maximize your property’s value, I provide data-backed strategies tailored to your goals.

Reach out today—I’d love to help you achieve success in Prosper’s vibrant housing market!

Unlock Exceptional Service!

Assistance with all your real estate needs in the Dallas-Fort Worth area is just a click or call away. Reach out at 214-940-8149 or connect through the links below.

Home Buyers Contact Form
HOME SELLERS CONTACT FORM
Apply For A Home Loan

For more information, please visit my contact page.

Meet Your Trusted Realtor and Mortgage Expert in Prosper, Texas!

Oleg Sedletsky REALTOR® and Mortgage Loan Originator in Prosper, TX and Dallas-Fort Worth

Oleg Sedletsky REALTOR® in Prosper, Texas. Call/Text 214.940.8149 

Greetings! I’m Oleg Sedletsky, and I’m excited to introduce myself as your go-to full-time licensed Texas REALTOR® and Mortgage Loan Originator.

I proudly represent JPAR® – Real Estate Brokerage as a REALTOR® and Utopia Mortgage LLC as a Mortgage Loan Originator! My designations and certifications reflect my dedication to helping you achieve your real estate goals in Prosper, TX and other locations in the vibrant Dallas-Fort Worth area!

With my expertise, I’ll provide you with in-depth resources, including detailed market reports and historical data, to help you make confident, well-informed decisions. Fluent in English, Ukrainian, and Russian, I’m here to guide you through every step of the process with personalized support and dedication.

It’s All About You and Your Real Estate Goals!

My mission is to serve you! With my knowledge and expertise, I’m here to help you achieve all your real estate goals!
I’m passionate about helping homebuyers and home-sellers navigate the exciting real estate landscape in Prosper, Texas! Whether you’re searching for your dream home, exploring land options, or looking for commercial properties, my Real Estate Services have you covered.

Contact me today for all your real estate needs in Prosper, Texas! Call/text 214-940-8149

Oleg Sedletsky REALTOR® Designations and Certifications:ABR® - Accredited Buyer's Representative SRS -The Seller Representative SpecialistGRI - The Graduate, REALTOR® InstituteRENE - The Real Estate Negotiation ExpertServing Allen TX, McKinney TX,

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.

by admin

Prosper, TX Real Estate and Homes For Sale - 2011 Single-Family Residential Housing Analysis

Prosper, TX Real Estate: A Comprehensive Analysis of the 2011 Single-Family Residential Housing Market

The 2011 real estate market in Prosper, Texas showed an increase in activity and intriguing market dynamics compared to the prior year. With 279 single-family homes sold, representing a 21% jump in sales volume, the market offered varied opportunities for buyers and sellers. This analysis explores key data points, trends, and the implications of market shifts to give you a clearer picture of what 2011 brought to Prosper’s housing sector.

Key Takeaways and Trends from the 2011 Real Estate Market in Prosper, TX

1. Pricing Range
Home prices ranged significantly, from $98,000 to $1,499,000, which highlighted an increase in luxury home activity compared to the previous year. This showed not only diversity in the Prosper, TX housing market but also an inclination towards higher-end properties.

2. Market Efficiency
The average close price to listing price ratio of 95.58% indicated strong buyer interest, although slightly less efficient than the prior year. Median DOM at 72 days remained in line with a generally healthy market turnover.

3. Unique Outliers
The most expensive property of the year sold for nearly $1.5 million, boasting custom luxury features like expansive square footage, a prime lot, and opulent design elements that positioned it far above the market average.

4. Mortgage Rates Impact
With the average 30-year fixed mortgage rate ticking down to 4.65%, buyers likely found slightly greater affordability. However, increases in gas prices and other economic factors might have tempered some of the positive impact of lower mortgage rates.

Prosper, TX Real Estate and Homes For Sale - 2011 Single-Family Residential Housing Analysis

Total Homes Closed

A total of 279 single-family homes closed in Prosper in 2011, marking a 21% rise from 2010’s total of 231 homes. This increase could signal greater buyer confidence and activity in the market.

New Construction Homes: 157 new homes were sold, illustrating a significant 78% increase from the prior year and underscoring the city’s focus on growth and development.

Homes with Pools: 41 properties featured pools, slightly fewer than the previous year but still a notable option for buyers seeking luxury amenities.

Property Pricing Insights

  • Minimum Price: $98,000
  • Maximum Price: $1,499,000
  • Average Price: $347,939
  • Median Price: $310,000

The year witnessed diversification in pricing, with both entry-level affordability and record-breaking luxury transactions shaping the market’s trajectory.

Property Size and Features

  • Bedrooms & Bathrooms: On average, homes featured 4 bedrooms and 4 bathrooms, maintaining similarities to the previous year.
  • Square Footage: Properties ranged from 1,355 sq. ft. to 11,950 sq. ft., with an average of 3,659 sq. ft., slightly higher than in 2010.
  • Lot Size: Lot sizes remained similar, with the largest lot at 5.625 acres, indicating a balance between urban and suburban appeal.

Market Dynamics

  • Days on Market (DOM): The average DOM was 93 days, a marginal improvement from 97 days in 2010.
  • ClsPr/LstPr & ClsPr/OLP Ratios: The average close price to listing price ratio was 95.58%, reflecting a slight dip from 96.82% in 2010. The close price to original listing price stood at 92.10%, indicating sellers were adjusting initial pricing more frequently.
  • Average Price Per Square Foot: $93.64, signaling a slight drop in price relative to property size compared to the prior year ($96.47).

Insights into the Most Expensive Prosper, TX Property Sold in 2011

The most expensive property sold in 2011 was an opulent 4-bedroom, 5-bathroom estate spanning 5,972 sq. ft. This luxury home brought sophistication and grandeur to the Prosper market, exemplified through its premium design and ideal location. Key metrics for this standout home include:

  • Sold Price: $1,499,000
  • Price Per Square Foot: $251.00
  • Lot Size: 3.081 acres
  • Days on Market (DOM): 143 days
  • ClsPr/LstPr & ClsPr/OLP Ratios: Both at 100%, showing excellent pricing alignment.
  • Year Built: 2001

The sale of this estate elevated market benchmarks for 2011, showcasing Prosper’s capacity to attract high-end buyers and developers willing to invest in luxury offerings.

Economic context

Historical Economic Data for Dallas-Fort Worth, 2011

Average Electricity Costs in Dallas-Fort Worth in 2011

Electricity prices dipped again to $0.11 per kilowatt-hour in 2011, down from $0.12 in 2010. This slight drop continued to help households manage their budgets with more flexibility for discretionary spending or home-related investments. The lower cost of utilities could boost the appeal of larger homes that might otherwise consume more electricity.

Average Price for Regular Gasoline in Texas in 2011

Gas prices rose noticeably to $3.37 per gallon in 2011, up from $2.64 in 2010. The steep increase likely caused homebuyers to favor properties closer to work or transit hubs. homebuyers in suburban or rural areas likely faced greater challenges due to higher commuting costs.

Average 30-Year Fixed Mortgage Rate in 2011

Mortgage rates dropped further to 4.65% in 2011 from 4.86% in the prior year. This ongoing trend of declining rates supported affordability and encouraged activity among homebuyers. First-time buyers were reminded to get pre-approved through local mortgage loan originators to better understand their purchasing power.

Curious about today’s mortgage rates and the home you can comfortably afford?

Submit a no-obligation mortgage application today and get pre-approved to determine your budget and take the first step toward homeownership with confidence.

GET PRE-APPROVED FOR A MORTGAGE

Overview of Differences Between the 2010 and 2011 Real Estate Markets in Prosper, Texas

Volume of Sales

The number of homes sold rose notably, from 231 in 2010 to 279 in 2011, reflecting increased buyer activity and market demand (a 21% increase).

Pricing

  • Average Price decreased slightly, from $354,201 in 2010 to $347,939 in 2011, signaling stable yet slightly softer pricing trends.
  • Minimum Price increased marginally, from $97,000 to $98,000, suggesting a small rise in the entry-level sector.
  • Maximum Price surged from $875,000 in 2010 to a record $1,499,000 in 2011, driven by luxury market expansion.

Market Efficiency

Close Price to Listing Price Ratio slipped slightly from 96.82% in 2010 to 95.58% in 2011, indicating minor market adjustments.

Days on Market (DOM) improved, dropping from 97 days to 93 days, showing a quicker market turnover.

Property Features

  • Average property sizes saw modest growth, with 3,610 sq. ft. in 2010 increasing to 3,659 sq. ft. in 2011.
  • Maximum square footage jumped significantly, from 7,262 sq. ft. to 11,950 sq. ft., a reflection of high-end properties entering the market.
  • Bedroom and bathroom averages remained consistent, at 4 bedrooms and 4 bathrooms.
  • Lot sizes stayed relatively constant, with slight fluctuations in maximum acreage.

The comparison highlights a more dynamic market in 2011, with increased sales, a rise in luxury property activity, and faster market movements while maintaining consistency in property features.

Summary of Real Estate Market Analysis for Prosper, TX in 2011

The 2011 real estate market in Prosper, Texas presented unique opportunities and challenges for both homebuyers and home-sellers.

Homebuyers’ Perspective

For homebuyers, the year offered a significant range of options, from affordable starter homes to high-end luxury properties. The increase in new construction sales delivered an appealing variety for buyers seeking modern homes. With mortgage rates at an average of 4.65%, affordability was within reach for many, though rising gas prices and other economic factors required buyers to carefully assess their budgets. Faster market turnover emphasized the need for quick decision-making to secure desirable properties.

Home-Sellers’ Perspective

For home sellers, the market conditions reinforced the importance of strategic pricing. The slight dip in close price to listing price ratios and the close price to original listing price trends indicated that overpricing often resulted in price adjustments and extended days on market. However, sellers who priced appropriately benefited from efficient sales and strong demand, especially for well-maintained or luxury properties.

The Importance of Statistical Data in Prosper, Texas Real Estate Market

Did you know that Appraisers and Realtors rely on historical statistical data to determine a property’s current value?

The data above is just the beginning. This glimpse into the Prosper, Texas real estate market outlines trends but doesn’t capture the full picture. To truly understand the city’s housing market, you’ll need specific insights like zip code analyses, neighborhood breakdowns, and school-district-focused data. Historical trends and comprehensive analyses arm both homebuyers and home sellers with the tools they need to make decisions confidently.

The insights on this page represent just a small part of the comprehensive real estate services I provide to my clients. Whether you’re a buyer aiming to find your dream home or a seller looking to maximize your property’s value, I provide data-backed strategies tailored to your goals.

Reach out today—I’d love to help you achieve success in Prosper’s vibrant housing market!

Unlock Exceptional Service!

Assistance with all your real estate needs in the Dallas-Fort Worth area is just a click or call away. Reach out at 214-940-8149 or connect through the links below.

Home Buyers Contact Form
HOME SELLERS CONTACT FORM
Apply For A Home Loan

For more information, please visit my contact page.

Meet Your Trusted Realtor and Mortgage Expert in Prosper, Texas!

Oleg Sedletsky REALTOR® and Mortgage Loan Originator in Prosper, TX and Dallas-Fort Worth

Oleg Sedletsky REALTOR® in Prosper, Texas. Call/Text 214.940.8149 

Greetings! I’m Oleg Sedletsky, and I’m excited to introduce myself as your go-to full-time licensed Texas REALTOR® and Mortgage Loan Originator.

I proudly represent JPAR® – Real Estate Brokerage as a REALTOR® and Utopia Mortgage LLC as a Mortgage Loan Originator! My designations and certifications reflect my dedication to helping you achieve your real estate goals in Prosper, TX and other locations in the vibrant Dallas-Fort Worth area!

With my expertise, I’ll provide you with in-depth resources, including detailed market reports and historical data, to help you make confident, well-informed decisions. Fluent in English, Ukrainian, and Russian, I’m here to guide you through every step of the process with personalized support and dedication.

It’s All About You and Your Real Estate Goals!

My mission is to serve you! With my knowledge and expertise, I’m here to help you achieve all your real estate goals!
I’m passionate about helping homebuyers and home-sellers navigate the exciting real estate landscape in Prosper, Texas! Whether you’re searching for your dream home, exploring land options, or looking for commercial properties, my Real Estate Services have you covered.

Contact me today for all your real estate needs in Prosper, Texas! Call/text 214-940-8149

Oleg Sedletsky REALTOR® Designations and Certifications:ABR® - Accredited Buyer's Representative SRS -The Seller Representative SpecialistGRI - The Graduate, REALTOR® InstituteRENE - The Real Estate Negotiation ExpertServing Allen TX, McKinney TX,

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.

by admin

Prosper, TX Real Estate and Homes For Sale - 2010 Single-Family Residential Housing Analysis

Prosper, TX Real Estate: A Comprehensive Analysis of the 2010 Single-Family Residential Housing Market

The real estate market of 2010 in Prosper reflected a dynamic period for residential single-family homes. This analysis provides valuable insights into pricing trends, home features, and market performance, allowing us to better grasp the area’s real estate landscape. Whether you’re buying or selling property, understanding these trends is crucial to make informed decisions.

Key Takeaways and Trends from the 2010 Real Estate Market in Prosper, TX

Pricing Range

Prosper’s market offered diverse price points, with properties selling between $97,000 and $875,000. This wide range catered to buyers of all budgets while showcasing a significant demand for higher-end properties.

Market Efficiency

Homes sold at an average of 96.82% of their listing price, demonstrating a balanced market with little room for aggressive negotiations. The median Days on Market (DOM) of just 63 days also indicated relatively quick turnarounds for most sales.

Unique Outliers

The most expensive property sold at $875,000 set itself apart with luxury features like beamed ceilings, four fireplaces, and an outdoor living area with a pool. Such unique properties add flair to the market but remain exceptions rather than the norm.

Mortgage Rates Impact

The average 30-year fixed mortgage rate in 2010 was 4.86%. While modestly competitive, these rates played a role in affordability and homebuyer confidence, influencing purchasing power across all demographics.

Prosper, TX Real Estate and Homes For Sale - 2010 Single-Family Residential Housing Analysis

Total Homes Closed

A total of 231 homes were closed in Prosper, TX in 2010. Notably, 88 homes were new constructions, reflecting an active development market. Additionally, 48 homes featured pools, meeting the demand for lifestyle-oriented buyers.

Property Pricing Insights

  • Minimum Price: $97,000
  • Maximum Price: $875,000
  • Average Price: $354,201
  • Median Price: $325,000

Pricing data shows that while the majority of properties were in the mid-range, both entry-level and luxury homes found buyers.

Property Size and Features

  • Bedrooms & Bathrooms: Most homes averaged 4 bedrooms and 4 bathrooms, making them suitable for families.
  • Square Footage: Homes ranged from 876 sq. ft. to 7,262 sq. ft., with an average of 3,610 sq. ft.
  • Lot Size: Though lot sizes varied significantly, most of them featured manageable spaces suitable for urban living. The largest lot was nearly 5 acres.

Market Dynamics

  • Days on Market (DOM): Homes averaged 97 days from listing to closing, though the median DOM stood lower at 63 days, showing faster sales for prime properties.
  • Average ClsPr/LstPr & ClsPr/OLP Ratios: Properties sold at 96.82% of their listing price on average and 93.56% of the original listing price, reflecting realistic pricing strategies by sellers.
  • Average Price Per Square Foot: $96.47, a key metric for evaluating property value.

Insights into the Most Expensive Prosper, TX Property Sold in 2010

One standout property in Prosper sold for $875,000. This 5-bedroom, 8-bathroom home boasted a sprawling 5,400 sq. ft. of luxury living space and offered several high-end amenities, including:

  • Price Per Square Foot: $162.04
  • Lot Size: 0.349 acres
  • Days on Market (DOM): 30 days
  • ClsPr/LstPr & ClsPr/OLP Ratios: Both 100%, indicating market-aligned pricing.
  • Year Built: 2008

Featuring an outdoor courtyard, four fireplaces, and custom craftsmanship, this property set a high benchmark for luxury homes and enhanced market visibility in the upscale category.

The sale of such a premium home demonstrates Prosper’s potential appeal to affluent buyers. While a unique case, it drives interest in similar properties and attracts developers aiming to meet high-end market demand.

Economic context

Average Electricity Costs in Dallas-Fort Worth in 2010

Electricity costs decreased further to $0.12 per kilowatt-hour in 2010, down from $0.13 in 2009. The drop allowed households to manage monthly budgets a bit more effectively. For real estate, affordability in utility costs could make energy-conscious homes an easier sell, particularly as homebuyers explored long-term cost savings.

Average Price for Regular Gasoline in Texas in 2010

Gasoline prices rebounded slightly, averaging $2.64 per gallon in 2010, compared to $2.21 in 2009. The rise in fuel costs likely pushed many homebuyers to evaluate commute expenses alongside their home budgets. Urban areas and transit-centered communities may have seen increased interest as reliable transport options became a key factor.

Average 30-Year Fixed Mortgage Rate in 2010

Mortgage rates declined further to 4.86% in 2010, offering favorable conditions for potential homebuyers. This drop made monthly payments more manageable and contributed to a gradual recovery in the housing market. Pre-approvals with local mortgage loan originators were essential for homebuyers to confidently pursue homes in competitive markets.

Curious about today’s mortgage rates and the home you can comfortably afford?

Submit a no-obligation mortgage application today and get pre-approved to determine your budget and take the first step toward homeownership with confidence.

GET PRE-APPROVED FOR A MORTGAGE

Summary of Real Estate Market Analysis for Prosper, TX in 2010

The 2010 real estate market in Prosper, Texas offered a range of opportunities for both homebuyers and sellers, each facing unique considerations.

Homebuyers’ Perspective

For homebuyers, the market provided a wide variety of options, from affordable homes to luxury properties. The presence of new construction homes (38% of total sales) and homes with pools catered to specific lifestyle desires. With average mortgage rates of 4.86% and homes selling quickly, buyers needed to act decisively while remaining mindful of competitive price points. The data shows that smart decisions were rewarded, especially for those who focused on well-priced properties with added value.

Home Sellers’ Perspective

For home-sellers, the high close price-to-list price ratio (96.82%) reflected a market where realistic pricing strategies often led to successful outcomes. This efficiency, coupled with the median days on market at just 63 days, demonstrated that properly prepared and marketed homes could sell quickly. However, overpricing posed risks, as indicated by the slightly lower close price-to-original listing price ratio (93.56%). Sellers who accurately gauged buyer demand and aligned their expectations with market dynamics reaped the maximum rewards.

The Importance of Statistical Data in Prosper, Texas Real Estate Market

Did you know that Appraisers and Realtors rely on historical statistical data to determine a property’s current value?

The data above is just the beginning. This glimpse into the Prosper, Texas real estate market outlines trends but doesn’t capture the full picture. To truly understand the city’s housing market, you’ll need specific insights like zip code analyses, neighborhood breakdowns, and school-district-focused data. Historical trends and comprehensive analyses arm both homebuyers and home sellers with the tools they need to make decisions confidently.

The insights on this page represent just a small part of the comprehensive real estate services I provide to my clients. Whether you’re a buyer aiming to find your dream home or a seller looking to maximize your property’s value, I provide data-backed strategies tailored to your goals.

Reach out today—I’d love to help you achieve success in Prosper’s vibrant housing market!

Unlock Exceptional Service!

Assistance with all your real estate needs in the Dallas-Fort Worth area is just a click or call away. Reach out at 214-940-8149 or connect through the links below.

Home Buyers Contact Form
HOME SELLERS CONTACT FORM
Apply For A Home Loan

For more information, please visit my contact page.

Meet Your Trusted Realtor and Mortgage Expert in Prosper, Texas!

Oleg Sedletsky REALTOR® and Mortgage Loan Originator in Prosper, TX and Dallas-Fort Worth

Oleg Sedletsky REALTOR® in Prosper, Texas. Call/Text 214.940.8149 

Greetings! I’m Oleg Sedletsky, and I’m excited to introduce myself as your go-to full-time licensed Texas REALTOR® and Mortgage Loan Originator.

I proudly represent JPAR® – Real Estate Brokerage as a REALTOR® and Utopia Mortgage LLC as a Mortgage Loan Originator! My designations and certifications reflect my dedication to helping you achieve your real estate goals in Prosper, TX and other locations in the vibrant Dallas-Fort Worth area!

With my expertise, I’ll provide you with in-depth resources, including detailed market reports and historical data, to help you make confident, well-informed decisions. Fluent in English, Ukrainian, and Russian, I’m here to guide you through every step of the process with personalized support and dedication.

It’s All About You and Your Real Estate Goals!

My mission is to serve you! With my knowledge and expertise, I’m here to help you achieve all your real estate goals!
I’m passionate about helping homebuyers and home-sellers navigate the exciting real estate landscape in Prosper, Texas! Whether you’re searching for your dream home, exploring land options, or looking for commercial properties, my Real Estate Services have you covered.

Contact me today for all your real estate needs in Prosper, Texas! Call/text 214-940-8149

Oleg Sedletsky REALTOR® Designations and Certifications:ABR® - Accredited Buyer's Representative SRS -The Seller Representative SpecialistGRI - The Graduate, REALTOR® InstituteRENE - The Real Estate Negotiation ExpertServing Allen TX, McKinney TX,

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.

by admin

Princeton, TX Real Estate and Homes For Sale - 2024 Single-Family Residential Housing Market Analysis

Princeton, TX Real Estate: A Comprehensive Analysis of the 2024 Single-Family Residential Housing Market

The 2024 real estate market in Princeton, Texas showcased resilience and adaptability. With 1,497 single-family homes sold, new constructions played a notable role, accounting for two-thirds of the total sales. However, the market saw slightly lower average prices compared to previous years. Economic conditions, including a 6.90% average mortgage rate and modest decreases in gas and energy costs, influenced buyer and seller behaviors.

Key Takeaways and Trends from Princeton’s 2024 Real Estate Market

Pricing Range: Prices remained stable, with affordability benefiting from lower maximum prices but consistent averages.

Market Efficiency: A slower market demanded patience, with both DOM and pricing ratios reflecting a more balanced playing field for buyers and sellers.

Unique Outliers: The significant rise in new construction home sales, coupled with a modest uptick in homes featuring pools, reflects evolving buyer preferences and greater inventory availability..

Mortgage Rates Impact: The decrease in mortgage rates to 6.90%, though modest, provided slight relief for buyers, encouraging continued engagement, particularly in new constructions.

Princeton, TX Real Estate and Homes For Sale - 2024 Single-Family Residential Housing Market Analysis

Total Homes Closed

A total of 1,497 homes were closed in 2024, marking a significant increase in activity.

New construction homes accounted for 989 sales, displaying robust growth in this category.

Homes with pools numbered at 12 properties, sustaining interest in leisure-friendly amenities.

Property Pricing Insights

The market saw a narrowing price range compared to 2023, with reduced maximum prices but consistent availability of budget-friendly options for buyers.

  • Minimum Price: $95,000
  • Maximum Price: $895,000
  • Average Price: $336,350
  • Median Price: $332,500

Property Size and Features

  • Bedrooms ranged from 2 to 6, averaging 4 per home.
  • Bathrooms ranged from 1 to 5, with an average of 2 bathrooms.
  • Square Footage varied between 768 and 4,006 sqft, with an average of 1,922 sqft.
  • Lot Sizes ranged from compact at 0.001 acres to 8.434 acres, averaging 0.181 acres, highlighting a preference for smaller properties.

Market Dynamics

  • Days on Market (DOM) has risen to an average of 44 days, with a maximum of 439 days, highlighting a continued slowdown in transaction activity.
  • Average ClsPr/LstPr Ratio was 97.84%, reflecting steady buyer-seller negotiations compared to 2023.
  • Average ClsPr/OLP Ratio held firm at 96.15%, reinforcing stable listing strategies.
  • Average Price Per SqFt was $178.85, a slight decrease from 2023, indicating affordability gains.

Insights into the Most Expensive Princeton, TX Property Sold in 2024

The most expensive home sold in 2024 was a 4-bed, 2-bath property built in 2007, situated on a generous 4.625-acre lot.

Key Highlights:

  • Price: $895,000
  • Square Footage: 2,145 sqft
  • Price Per SqFt: $417.25
  • Lot Size: 4.625 acres
  • Days on Market (DOM): 7
  • ClsPr/LstPr and ClsPr/OLP Ratios: 96.24%
  • Year Built: 2007

This property stood out for its spacious lot and luxury finish, making it a unique transaction in a year with tempered high-end activity. It underscored the demand for well-maintained, expansive homes offering value for the price.

Economic context

Historical Economic Data for Dallas-Fort Worth, 2024

Average Electricity Costs in Dallas-Fort Worth in 2024

Electricity prices rose again to $0.19 per kilowatt-hour in 2024, up from $0.17 in 2023. The steady rise in energy costs underscored the growing value of homes equipped with renewable energy solutions. Energy-conscious designs likely remained a key factor in real estate market trends.

Average Price for Regular Gasoline in Texas in 2024

Gas prices settled slightly lower at $2.86 per gallon in 2024, down from $3.06 in 2023. This decrease, while modest, might have encouraged more exploratory behavior from buyers considering homes in more distant locations. The reduced cost of transportation relieved some financial stress for commuting.

Average 30-Year Fixed Mortgage Rate in 2024

The average 30-year fixed mortgage rate fell marginally to 6.90% in 2024, down from 7.00% in 2023. While still elevated, this slight decline could provide homebuyers with additional opportunities to re-enter the market. Pre-approvals with a local mortgage loan originator remained critical in helping buyers react quickly to evolving financial conditions and maintain a competitive edge.

Curious about today’s mortgage rates and the home you can comfortably afford?

Submit a no-obligation mortgage application today and get pre-approved to determine your budget and take the first step toward homeownership with confidence.

GET PRE-APPROVED FOR A MORTGAGE

Overview of Differences Between the 2023 and 2024 Real Estate Markets in Princeton, Texas

Volume of Sales

The real estate market in Bobak experienced a significant rise in activity with 1,497 homes sold in 2024, compared to 961 homes sold in 2023—a 56% increase.

Pricing

  • Minimum Price fell from $115,000 in 2023 to $95,000 in 2024, indicating more budget-friendly options.
  • Maximum Price dropped sharply from $1,550,000 to $895,000.
  • Average Price saw a slight dip, moving from $346,690 in 2023 to $336,350 in 2024.
  • Median Price was marginally lower, from $334,690 to $332,500.

Market Efficiency

Days on Market (DOM) increased from 35 days to 44 days, reflecting slower transaction speeds.

The Average ClsPr/LstPr Ratio remained relatively stable, dropping slightly from 98.18% in 2023 to 97.84%.

The Average ClsPr/OLP Ratio also held steady, moving from 96.37% in 2023 to 96.15% in 2024.

Property Features

The average square footage increased slightly from 1,901 sqft to 1,922 sqft, while lot sizes shrank modestly.

New construction homes surged, rising from 565 in 2023 to 989 in 2024, signaling strong growth in this category.

Homes with pools increased marginally, from 10 in 2023 to 12 in 2024.

Economic Context

The average 30-year fixed mortgage rate decreased modestly from 7.00% to 6.90%, offering slight relief to buyers. Reductions in energy and gas costs also contributed to a more manageable economic environment for buyers and sellers alike.

Overall, 2024 saw an increase in activity and inventory, greater affordability, and a focus on new constructions, though the slower market dynamics required more patience from participants.

Summary of Real Estate Market Analysis for Princeton, TX in 2024

The 2024 real estate market in Princeton, Texas presented a dynamic yet challenging environment, with significant shifts impacting both homebuyers and home-sellers.

Homebuyers’ Perspective

For homebuyers, the market leaned heavily in their favor. A disproportionate number of new construction homes—nearly two-thirds of total home sales—created plenty of options for those seeking modern, move-in-ready properties. Builders further sweetened the deal with extensive incentives, ranging from flexible financing to added upgrades, making new construction homes especially attractive. These factors, paired with marginally lower preowned home prices, opened opportunities for buyers to negotiate and achieve greater value. This abundance of inventory, combined with softer price points, pointed to a market where patience and research could lead to excellent deals.

Home-Sellers’ Perspective

Conversely, home-sellers, particularly those with preowned homes, faced mounting challenges. The overwhelming supply of affordable new construction homes—loaded with builder incentives—created stiff competition that preowned homes struggled to match. This dynamic exerted downward pressure on preowned home prices, making it crucial for sellers to adapt. Strategic pricing became essential, as overpricing reduced the likelihood of attracting buyers in a market that offered newer alternatives. Additionally, investing in home improvements, staging, and enhanced curb appeal grew more important for sellers aiming to compete effectively.

Overall, the 2024 market was shaped by significant disruptions brought on by the rise of new constructions and evolving buyer preferences. Homebuyers celebrated a wealth of attractive options, while home-sellers were encouraged to adapt their strategies to successfully capture interest in a highly competitive market.

The Importance of Statistical Data in Princeton, Texas Real Estate Market

Did you know that appraisers and Realtors rely on historical statistical data to determine a property’s current value?

Analyzing historical market data is essential for making informed decisions in today’s real estate market. Examining past trends provides valuable insights that facilitate accurate pricing, more strategic negotiations, and a comprehensive understanding of market dynamics. By understanding market dynamics, both homebuyers and home-sellers can leverage the conditions to achieve their goals.

Unlock Exceptional Service!

Assistance with all your real estate needs in the Dallas-Fort Worth area is just a click or call away. Reach out at 214-940-8149 or connect through the links below.

Home Buyers Contact Form
HOME SELLERS CONTACT FORM
Apply For A Home Loan

For more information, please visit my contact page.

Oleg Sedletsky REALTOR® and Mortgage Loan Originator in Princeton, TX, and Dallas-Fort Worth

Oleg Sedletsky REALTOR® in Princeton, Texas. Call/Text 214.940.8149 

Greetings! I’m Oleg Sedletsky, and I’m excited to introduce myself as your go-to full-time licensed Texas REALTOR® and Mortgage Loan Originator.

I proudly represent JPAR® – Real Estate Brokerage as a REALTOR® and Utopia Mortgage LLC as a Mortgage Loan Originator! My designations and certifications reflect my dedication to helping you achieve your real estate goals in Princeton, TX and other locations in the vibrant Dallas-Fort Worth area!

My commitment to ongoing professional development means I’m always enhancing my skills to serve you better. You can count on me as your trusted expert throughout your real estate journey. Plus, I’m fluent in English, Ukrainian, and Russian and ready to assist you every step of the way!

Oleg Sedletsky REALTOR® Designations and Certifications:ABR® - Accredited Buyer's Representative SRS -The Seller Representative SpecialistGRI - The Graduate, REALTOR® InstituteRENE - The Real Estate Negotiation ExpertServing Allen TX, McKinney TX,

It’s All About You and Your Real Estate Goals!

My mission is to serve you! With my knowledge and expertise, I’m here to help you achieve all your real estate goals!
I’m passionate about helping buyers and sellers navigate the exciting real estate landscape in Princeton, Texas! Whether you’re searching for your dream home, exploring land options, or looking for commercial properties, my Real Estate Services have you covered.

Contact me today for all your real estate needs in Princeton, Texas! Call/text 214-940-8149

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.

by admin

Princeton, TX Real Estate and Homes For Sale - 2023 Single-Family Residential Housing Market Analysis

Princeton, TX Real Estate: A Comprehensive Analysis of the 2023 Single-Family Residential Housing Market

In 2023, the Princeton, Texas real estate market was defined by climbing mortgage rates, with the average rate for a 30-year fixed mortgage reaching 7% and elevated utility costs ($0.17 per kilowatt-hour electricity). These economic pressures tested affordability but spurred demand for energy-efficient and modern homes, particularly new construction properties. Despite financial hurdles, the market remained vibrant, with 961 homes sold and a broad price range catering to both entry-level and luxury buyers.

Key Takeaways and Trends from Princeton’s 2023 Real Estate Market

Pricing Range: The market showcased a wide range, from $115,000 for entry-level homes to luxurious properties priced over $1.5 million.

Market Efficiency: The 35-day average DOM and 98.18% close-to-list price ratio indicated a moderately steady market where buyers had some negotiating power, yet properties moved relatively quickly.

Unique Outliers: Notable outliers included ultra-affordable smaller homes and extravagant estates with pools, suggesting demand across all buyer segments.

Mortgage Rates Impact: The 7% average 30-year fixed mortgage rate pushed affordability concerns for entry-level buyers, while incentivizing cash buyers and those seeking efficient, newly-built homes.

Princeton, TX Real Estate and Homes For Sale - 2023 Single-Family Residential Housing Market Analysis

Total Homes Closed

A total of 961 homes were sold in 2023. Of these, 565 were new construction homes, signaling strong demand for modern, energy-efficient builds. Additionally, 10 homes featured pools, demonstrating consistent interest in lifestyle-enhancing properties.

Property Pricing Insights

  • Minimum Price: $115,000
  • Maximum Price: $1,550,000
  • Average Price: $346,690
  • Median Price: $334,690

While most homes sold within the mid-range, the presence of high-end properties pushed the upper limits of the market.

Property Size and Features

  • Bedrooms: Ranged from 1 to 6; average was 4 bedrooms.
  • Bathrooms: Ranged from 1 to 7; average was 2 bathrooms.
  • Square Footage: Ranged from 480 sqft to 6,180 sqft; average was 1,901 sqft.
  • Lot Size: Ranged from 0.001 acres to 14.34 acres; average lot size was 0.237 acres.

The market offered a wide variety of options, catering to small families and buyers seeking expansive estates.

Market Dynamics

  • Days on Market: Ranged from 0 to 311 days, with an average of 35 days and a median of 19 days, indicating a moderately-paced market.
  • ClsPr/LstPr Ratio: Averaged 98.18%, suggesting homes commonly sold slightly below the asking price.
  • ClsPr/OLP Ratio: Averaged 96.37%, showing some price reductions during the sales process.
  • Price per Square Foot: Averaged $186.88, reflecting the market’s overall value relative to property size.

The balance between buyer urgency and seller pricing strategies defined the market’s dynamics.

Insights into the Most Expensive Princeton, TX Property Sold in 2023

A remarkable 5-bedroom, 7-bathroom home topped the 2023 market with a sale price of $1,550,000. Built in 2007, this luxury property offered 6,180 square feet of living space on a 1.370-acre lot, complete with a pool. At a price of $250.81 per square foot, the home represented high-end living, featuring upscale finishes and ample space for entertainment. While it lingered for 69 days on market, it sold with a ClsPr/LstPr (close price to listing price) ratio of 91.18% and a ClsPr/OLP (close price to original listing price) ratio of 79.49%, indicating price adjustments during the listing process.

Key Highlights:

  • Price: $1,550,000
  • Beds/Baths: 5 bedrooms, 7 bathrooms
  • Square Footage: 6,180 sqft
  • Price/SqFt: $250.81
  • Lot Size: 1.370 acres
  • DOM: 69 days
  • ClsPr/LstPr Ratio: 91.18%
  • ClsPr/OLP Ratio: 79.49%
  • Year Built: 2007

This property demonstrated the resilience of the luxury segment in Princeton, TX, even amidst economic pressures.

Economic context

Historical Economic Data for Dallas-Fort Worth, 2023

Average Electricity Costs in Dallas-Fort Worth in 2023

Electricity prices dropped slightly to $0.17 per kilowatt-hour in 2023, compared to $0.18 in 2022. While this small decrease provided some relief, energy-efficient homes remained a top priority for homebuyers. Such features offered long-term cost savings that appealed to budget-conscious households.

Average Price for Regular Gasoline in Texas in 2023

Gas prices fell to $3.06 per gallon in 2023, down from $3.47 the previous year. This decline could have renewed interest in suburban properties by making commutes more affordable. homebuyers may have placed higher importance on access to amenities and infrastructure to balance the potential for rising future gas prices.

Average 30-Year Fixed Mortgage Rate in 2023

Mortgage rates increased to 7.00% in 2023, up sharply from 5.53% the prior year. This jump added significant pressure to affordability and homebuyers’ decision-making. Pre-approvals through local mortgage loan originators became essential in helping buyers secure competitive rates and stay within budget during challenging conditions.

Curious about today’s mortgage rates and the home you can comfortably afford?

Submit a no-obligation mortgage application today and get pre-approved to determine your budget and take the first step toward homeownership with confidence.

GET PRE-APPROVED FOR A MORTGAGE

Overview of Differences Between the 2022 and 2023 Real Estate Markets in Princeton, Texas

Volume of Sales

Sales volume increased significantly from 690 homes in 2022 to 961 homes in 2023, marking a 39% growth.

Pricing

  • Minimum Price decreased from $135,000 (2022) to $115,000 (2023), signaling more budget-friendly options entering the market.
  • Maximum Price slightly dropped from $1,600,000 (2022) to $1,550,000 (2023), indicating stabilization in the luxury market.
  • Average Price fell from $369,296 to $346,690, reflecting eased buyer spending amidst economic pressures.
  • Median Price also dropped from $351,996 to $334,690, showing a broader downward adjustment across the market.

Market Efficiency

  • Days on Market (DOM) rose from 21 days (2022) to 35 days (2023), pointing to slower transaction speeds.
  • ClsPr/LstPr Ratio decreased from 101.63% (2022) to 98.18% (2023), signifying reduced competitiveness in offers.
  • ClsPr/OLP Ratio dropped from 100.40% to 96.37%, indicating increased room for buyer negotiation.

Property Features

  • Average Square Footage: Slight increase from 1,869 sqft (2022) to 1,901 sqft (2023) reflects a preference for larger homes.
  • Lot Size: Averaged at 0.237 acres (2023) compared to 0.422 acres (2022), highlighting a shift toward more compact lots.
  • Homes with Pools: Declined from 17 (2022) to 10 (2023), suggesting less focus on leisure amenities.
  • New Construction Homes: Surged from 249 (2022) to 565 (2023), showcasing a booming construction market catering to demand.

Economic Context

The average 30-year fixed mortgage rate spiked from 5.53% (2022) to 7.00% (2023), significantly impacting affordability for buyers.

Decreases in electricity ($0.18 to $0.17 per kilowatt hour) and gas prices ($3.47 to $3.06) slightly eased utility costs, but the steep mortgage rate increase likely outweighed these savings.

These shifts illustrate a transitioning market in 2023, with increased housing supply softening prices amidst higher borrowing costs. The rise in new constructions pointed to efforts to meet buyer demand despite the economic challenges.

Summary of Real Estate Market Analysis for Princeton, TX in 2023

The 2023 real estate market in Princeton, TX reflected significant shifts, offering distinct opportunities and challenges for both homebuyers and home-sellers.

Homebuyers’ Perspective

For homebuyers, the year presented a mix of hurdles and prospects. The sharp rise in mortgage rates to 7.00% significantly impacted affordability, making cautious financial planning essential. However, a notable increase in new construction homes—565 in total—provided a range of modern options, often appealing with enhanced features and the allure of energy-efficiency. Additionally, a slight decrease in average home prices, with the median dropping to $334,690, offered some relief, especially to buyers navigating tighter budgets. The longer Days on Market (DOM), averaging 35 days, created room for negotiation, allowing buyers to approach purchases with more patience and confidence. This environment rewarded strategic offers and value-conscious decisions, especially in a market becoming less competitive.

Home-Sellers’ Perspective

For home-sellers, 2023 posed new challenges requiring a more thoughtful approach. Properties averaged longer DOM compared to the previous year, stretching from 21 to 35 days, an indication that buyers were more deliberate and thorough in their decision-making. Furthermore, the close-to-list price ratio declined to 98.18%, reflecting a slight softening in buyer enthusiasm compared to 2022’s high of 101.63%. Sellers had to lean on competitive pricing strategies, professional staging, and marketing to stand out in a calmer market. Yet, opportunities abounded for those selling newer or larger properties, as demand for spacious homes and contemporary features remained strong. Sellers who understood these trends and adapted quickly were better positioned to capture buyer interest and achieve favorable outcomes.

Both homebuyers and home-sellers navigated a transitioning market in 2023, balancing economic headwinds and emerging opportunities. The year demanded decisiveness but also clarity, making adaptability the key to success for all parties.

The Importance of Statistical Data in Princeton, Texas Real Estate Market

Did you know that appraisers and Realtors rely on historical statistical data to determine a property’s current value?

Analyzing historical market data is essential for making informed decisions in today’s real estate market. Examining past trends provides valuable insights that facilitate accurate pricing, more strategic negotiations, and a comprehensive understanding of market dynamics. By understanding market dynamics, both homebuyers and home-sellers can leverage the conditions to achieve their goals.

Unlock Exceptional Service!

Assistance with all your real estate needs in the Dallas-Fort Worth area is just a click or call away. Reach out at 214-940-8149 or connect through the links below.

Home Buyers Contact Form
HOME SELLERS CONTACT FORM
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For more information, please visit my contact page.

Oleg Sedletsky REALTOR® and Mortgage Loan Originator in Princeton, TX, and Dallas-Fort Worth

Oleg Sedletsky REALTOR® in Princeton, Texas. Call/Text 214.940.8149 

Greetings! I’m Oleg Sedletsky, and I’m excited to introduce myself as your go-to full-time licensed Texas REALTOR® and Mortgage Loan Originator.

I proudly represent JPAR® – Real Estate Brokerage as a REALTOR® and Utopia Mortgage LLC as a Mortgage Loan Originator! My designations and certifications reflect my dedication to helping you achieve your real estate goals in Princeton, TX and other locations in the vibrant Dallas-Fort Worth area!

My commitment to ongoing professional development means I’m always enhancing my skills to serve you better. You can count on me as your trusted expert throughout your real estate journey. Plus, I’m fluent in English, Ukrainian, and Russian and ready to assist you every step of the way!

Oleg Sedletsky REALTOR® Designations and Certifications:ABR® - Accredited Buyer's Representative SRS -The Seller Representative SpecialistGRI - The Graduate, REALTOR® InstituteRENE - The Real Estate Negotiation ExpertServing Allen TX, McKinney TX,

It’s All About You and Your Real Estate Goals!

My mission is to serve you! With my knowledge and expertise, I’m here to help you achieve all your real estate goals!
I’m passionate about helping buyers and sellers navigate the exciting real estate landscape in Princeton, Texas! Whether you’re searching for your dream home, exploring land options, or looking for commercial properties, my Real Estate Services have you covered.

Contact me today for all your real estate needs in Princeton, Texas! Call/text 214-940-8149

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.

by admin

Princeton, TX Real Estate and Homes For Sale - 2022 Single-Family Residential Housing Market Analysis

Princeton, TX Real Estate: A Comprehensive Analysis of the 2022 Single-Family Residential Housing Market

The 2022 real estate market in Princeton, Texas experienced a pivotal shift, shaped by economic adjustments such as the rise in 30-year average mortgage rates to 5.53%. Despite the increased cost of financing, property values soared to record-breaking levels, with both average and median prices reaching all-time highs. New construction homes and properties featuring pools remained in high demand, reflecting continued growth and evolving lifestyle preferences in the area.

Key Takeaways and Trends from Princeton’s 2022 Real Estate Market

Pricing Range:  Princeton, TX saw its pricing range expand, with the minimum price rising slightly and the maximum reaching $1.6M.

Market Efficiency: Properties sold much faster in 2022 (21 days compared to 38 days in 2021), and close-to-list price ratios held steady at over 101%.

Unique Outliers: The most expensive property sold not only broke pricing records but also reflected growing interest in luxury acreage and leisure-friendly features.

Mortgage Rates Impact: Despite mortgage rates jumping from 3.15% to 5.53%, demand remained strong, driven by lifestyle-focused decisions and buyer competition.

Princeton, TX Real Estate and Homes For Sale - 2022 Single-Family Residential Housing Market Analysis

Total Homes Closed

A total of 690 single-family homes were sold in 2022, marking an overall decline from 849 the previous year.

New construction homes accounted for 249 properties, showing sustained demand for modern builds.

Homes with pools increased to 17 properties, indicating a growing appeal for leisure-oriented features.

Property Pricing Insights

  • Minimum Price: $135,000
  • Maximum Price: $1,600,000
  • Average Price: $369,296 (up from $311,550 in 2021)
  • Median Price: $351,996 (up from $300,000 in 2021)

Rising prices reflect stronger competition and evolving homebuyer priorities.

Property Size and Features

  • Bedrooms: Ranged from 1 to 6, with an average of 4 bedrooms per home.
  • Bathrooms: Ranged from 1 to 5, with most homes featuring 2 bathrooms on average.
  • Square Footage: Homes ranged from 576 sqft to 5,348 sqft, with an average of 1,869 sqft—a slight decrease from 2021.
  • Lot Size: Varied from 0 to 19,189 acres, with the median being 0.140 acres, showing smaller average lot sizes in general.

Market Dynamics

  • Days on Market (DOM): Homes sold in an average of 21 days, a sharp improvement from 38 days in 2021, highlighting faster sales.
  • ClsPr/LstPr Ratio: Averaged 101.63%, showing sustained demand with buyers paying slightly above listing prices.
  • ClsPr/OLP Ratio: Spiked to 245.02%, driven by standout properties that performed exceptionally well.
  • Average Price Per SqFt: $201.61, up significantly from $154.56 in 2021.

Insights into the Most Expensive Princeton, TX Property Sold in 2022

The most expensive property sold in Princeton in 2022 was a stunning 4-bedroom, 3-bathroom estate built in 1986, exuding both charm and modern luxury. Spanning an impressive 5,348 square feet, the home featured a spacious layout perfect for upscale living. It sat on a vast 12.061-acre lot, providing plenty of both privacy and outdoor possibilities. This luxurious property also boasted a beautiful pool, making it an ideal retreat for relaxation and leisure. Selling for $1,600,000, the home commanded a price of $299.18 per square foot, showcasing its premium value. What’s more, it moved quickly, with a record-breaking 6 days on market (DOM). The sale price exceeded the listing price, achieving a ClsPr/LstPr (close price to listing price) ratio of 108.48% and demonstrating its high buyer demand. The same ratio for ClsPr/OLP (close price to original listing price) was also 108.48%, indicating consistent interest and competitiveness of the listing.

Key Highlights::

  • Price: $1,600,000
  • Beds/Baths: 4 bedrooms, 3 bathrooms
  • Square Footage: 5,348 sqft
  • Price/SqFt: $299.18
  • Lot Size: 12.061 acres
  • DOM: 6 days
  • ClsPr/LstPr Ratio: 108.48%
  • ClsPr/OLP Ratio: 108.48%
  • Year Built: 1986

Economic context

Historical Economic Data for Dallas-Fort Worth, 2022

Average Electricity Costs in Dallas-Fort Worth in 2022

Average electricity prices spiked to $0.18 per kilowatt-hour in 2022, a sharp increase from $0.14 in 2021. Higher energy expenses placed added strain on household budgets, driving demand for energy savings. Homes with modern insulation, solar installations, or energy-saving appliances gained significant appeal during this period.

Average Price for Regular Gasoline in Texas in 2022

Gas prices surged to $3.47 per gallon in 2022, jumping from $2.65 in 2021. The substantial increase in transportation costs likely swayed homebuyers to favor central locations or areas close to public transit. Long commutes to suburban or rural homes might have lost some appeal in light of elevated gas prices.

Average 30-Year Fixed Mortgage Rate in 2022

Mortgage rates climbed steeply to 5.53% in 2022, up from 3.15% the year before. The notable rise in rates significantly impacted affordability, persuading many to reassess their homeownership goals. Homebuyers were urged to secure pre-approval with a local mortgage loan originator to better understand their financial limits in a tightened market.

Curious about today’s mortgage rates and the home you can comfortably afford?

Submit a no-obligation mortgage application today and get pre-approved to determine your budget and take the first step toward homeownership with confidence.

GET PRE-APPROVED FOR A MORTGAGE

Overview of Differences Between the 2021 and 2022 Real Estate Markets in Princeton, Texas

Volume of Sales

Sales volume dropped from 849 homes in 2021 to 690 homes in 2022, marking an 18.7% decline, likely influenced by rising mortgage rates and affordability constraints.

Pricing

  • The minimum price rose from $115,000 to $135,000, while the maximum price increased slightly to $1.6M.
  • Average prices climbed from $311,550 in 2021 to $369,296 in 2022, reflecting an 18.5% rise.
  • Median prices also rose, from $300,000 in 2021 to $351,996 in 2022, indicating broader price appreciation across the market.

Market Efficiency

  • Days on Market (DOM): Improved significantly, dropping from 38 days in 2021 to just 21 days in 2022.
  • ClsPr/LstPr ratios: Held steady at just over 101%, indicating properties continued to sell above listing price.
  • ClsPr/OLP ratios: Increased dramatically from 245.02% to much higher levels, driven by standout transactions and market dynamics.

Property Features

  • Square Footage: Average home size slightly decreased from 1,902 sqft in 2021 to 1,869 sqft in 2022.
  • Lot Sizes: Median lot sizes remained small, with a marginal difference between both years.
  • Pools: Homes with pools sold increased from 11 in 2021 to 17 in 2022, showing rising demand for leisure features.
  • New Construction Homes: Sales declined from 402 in 2021 to 249 in 2022, signaling a slowdown in new developments.

Economic Context

Average mortgage rates rose from 3.15% in 2021 to 5.53% in 2022, which likely constrained affordability and contributed to reduced sales volume.

Rising costs for utilities and fuel also impacted overall purchasing power for buyers.

These differences highlight the market’s resilience and adaptability despite economic challenges, with rising prices and faster sales underscoring strong demand for quality properties.

Summary of Real Estate Market Analysis for Princeton, TX in 2022

The 2022 real estate market in Princeton, Texas presented unique challenges and opportunities for both homebuyers and home-sellers, shaped by shifting economic conditions and evolving buyer preferences.

Homebuyers’ Perspective

For homebuyers, rising mortgage rates—reaching an average of 5.53%—posed significant affordability challenges, especially for entry-level buyers. Higher average and median property prices further narrowed access to homes in lower price ranges. However, the market offered notable opportunities, particularly in the availability of new construction homes, with 249 properties catering to those seeking modern designs and updated features. The increase in homes with pools also provided buyers the chance to invest in lifestyle-focused properties. With the average Days on Market (DOM) dropping to just 21 days, the market became highly competitive, reinforcing the need for buyers to act decisively and prepare strategically to secure desired properties before they sell.

Home-Sellers’ Perspective

For home-sellers, the 2022 market dynamics created substantial advantages. Average property prices soared by 18.5%, while the median price increased by over $50,000 compared to 2021, positioning sellers to gain significant returns. The faster pace of sales—reflected in the reduced DOM—meant well-priced, move-in-ready homes were in high demand. Sellers needed to carefully balance competitive pricing with market conditions to meet buyer expectations and maximize offers. Features like pools and larger properties resonated strongly with buyers seeking additional value, giving sellers of such homes an edge in the market. Meanwhile, the slight decline in new construction home sales hinted at an opportunity for resale properties to fill the gap in supply.

Both homebuyers and home-sellers in 2022 navigated a dynamic, fast-moving market influenced by economic shifts and changing priorities. Sellers enjoyed the benefits of increasing property values and brisk sales, while buyers had to overcome financial barriers but still found value in new developments and lifestyle-focused investments. The year emphasized the importance of preparation, understanding market trends, and adapting to the fast-evolving real estate environment.

The Importance of Statistical Data in Princeton, Texas Real Estate Market

Did you know that appraisers and Realtors rely on historical statistical data to determine a property’s current value?

Analyzing historical market data is essential for making informed decisions in today’s real estate market. Examining past trends provides valuable insights that facilitate accurate pricing, more strategic negotiations, and a comprehensive understanding of market dynamics. By understanding market dynamics, both homebuyers and home-sellers can leverage the conditions to achieve their goals.

Unlock Exceptional Service!

Assistance with all your real estate needs in the Dallas-Fort Worth area is just a click or call away. Reach out at 214-940-8149 or connect through the links below.

Home Buyers Contact Form
HOME SELLERS CONTACT FORM
Apply For A Home Loan

For more information, please visit my contact page.

Oleg Sedletsky REALTOR® and Mortgage Loan Originator in Princeton, TX, and Dallas-Fort Worth

Oleg Sedletsky REALTOR® in Princeton, Texas. Call/Text 214.940.8149 

Greetings! I’m Oleg Sedletsky, and I’m excited to introduce myself as your go-to full-time licensed Texas REALTOR® and Mortgage Loan Originator.

I proudly represent JPAR® – Real Estate Brokerage as a REALTOR® and Utopia Mortgage LLC as a Mortgage Loan Originator! My designations and certifications reflect my dedication to helping you achieve your real estate goals in Princeton, TX and other locations in the vibrant Dallas-Fort Worth area!

My commitment to ongoing professional development means I’m always enhancing my skills to serve you better. You can count on me as your trusted expert throughout your real estate journey. Plus, I’m fluent in English, Ukrainian, and Russian and ready to assist you every step of the way!

Oleg Sedletsky REALTOR® Designations and Certifications:ABR® - Accredited Buyer's Representative SRS -The Seller Representative SpecialistGRI - The Graduate, REALTOR® InstituteRENE - The Real Estate Negotiation ExpertServing Allen TX, McKinney TX,

It’s All About You and Your Real Estate Goals!

My mission is to serve you! With my knowledge and expertise, I’m here to help you achieve all your real estate goals!
I’m passionate about helping buyers and sellers navigate the exciting real estate landscape in Princeton, Texas! Whether you’re searching for your dream home, exploring land options, or looking for commercial properties, my Real Estate Services have you covered.

Contact me today for all your real estate needs in Princeton, Texas! Call/text 214-940-8149

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.

by admin

Princeton, TX Real Estate and Homes For Sale - 2021 Single-Family Residential Housing Market Analysis

Princeton, TX Real Estate: A Comprehensive Analysis of the 2021 Single-Family Residential Housing Market

The second year of the COVID-19 pandemic continued to shape the real estate market in Princeton, Texas. Work-from-home trends and lifestyle changes encouraged demand for spacious homes and properties with unique features. HomeBuyers benefited from historically low mortgage rates averaging 3.15%, further fueling market activity. With 849 homes sold, the market demonstrated resilience in the face of economic challenges.

Key Takeaways and Trends from Princeton’s 2021 Real Estate Market

Pricing Range: A broader pricing spectrum emerged, from $130,000 to over $1 million, appealing to diverse buyers.

Market Efficiency: Faster closings and higher close price ratios reflected strong buyer confidence and competitive dynamics.

Unique Outliers: The sale of luxury properties and new construction homes drove significant price tiers upward.

Mortgage Rates Impact: The low 3.15% mortgage rate spurred buyer activity, further boosting transaction volume.

Princeton, TX Real Estate and Homes For Sale - 2021 Single-Family Residential Housing Market Analysis

Total Homes Closed

A total of 849 residential single-family homes closed in Princeton, TX in 2021.

New Construction Homes: 402, highlighting an active development year.

Homes with Pools: 12, reflecting steady interest in leisure-driven amenities.

Property Pricing Insights

  • Minimum Price: $130,000
  • Maximum Price: $1,025,000
  • Average Price: $311,550
  • Median Price: $300,000

This data reflects rising property values and a growing demand across pricing tiers, especially in the mid-to-luxury range.

Property Size and Features

  • Bedrooms: Properties ranged from 1 to 6 bedrooms, with an average of 4.
  • Bathrooms: Ranged from 1 to 5 baths, with an average of 2 full baths.
  • Square Footage: Homes varied from 768 sqft to 4,543 sqft, with an average of 2,080 sqft.
  • Lot Size: Lot areas ranged from 0.000 to 12.980 acres, averaging 0.308 acres per home.

The focus on larger homes and generous lot sizes illustrated buyer preferences for comfort and space.

Market Dynamics

  • Days on Market (DOM): Properties averaged 38 days on the market, showing slightly quicker transactions than 2020.
  • ClsPr/LstPr Ratio: 101.70%, indicating frequent sale prices above listing prices.
  • ClsPr/OLP Ratio: 104.22%, showcasing competitive buyer demand compared to original listings.
  • Average Price Per Square Foot: $154.56, reflecting a per-square-foot increase aligned with overall price growth.

Insights into the Most Expensive Princeton, TX Property Sold in 2021

The most expensive property sold in 2021 was an elegant home with standout features:

  • Price: $1,025,000
  • Beds: 5
  • Baths: 5 (4 full, 1 half)
  • Square Footage: 3,967 sqft
  • Price Per Sqft: $258.38
  • Lot Size: 9.000 acres
  • Days on Market: 112
  • ClsPr/LstPr Ratio: 97.62%
  • ClsPr/OLP Ratio: 132.26%
  • Year Built: 2007

This property exemplifies high-end living, with a high price driven by its substantial acreage, spacious layout, and premium amenities. This sale reflected the increasing demand for premium and luxury homes in Princeton, TX. Though such properties remained outliers, they underscored market readiness for high-value purchases.

Economic context

Historical Economic Data for Dallas-Fort Worth, 2021

Average Electricity Costs in Dallas-Fort Worth in 2021

Electricity prices rose again to $0.14 per kilowatt-hour in 2021, up from $0.13 in 2020. This upward trend in energy costs likely pushed buyers to prioritize homes with efficient heating and cooling systems. Green-certified homes may have seen increased interest as buyers sought to offset higher utility bills.

Average Price for Regular Gasoline in Texas in 2021

Gas prices climbed to $2.65 per gallon in 2021, up from $1.82 in the prior year. This sharp increase put pressure on household budgets, especially for buyers with long commutes. Urban properties or homes in transit-accessible locations likely became more appealing as buyers aimed to minimize transportation expenses.

Average 30-Year Fixed Mortgage Rate in 2021

The average 30-year fixed mortgage rate dropped slightly to 3.15% in 2021, down from 3.38% in 2020. This decline further fueled homebuying demand, making mortgages more affordable despite rising home prices. Potential homebuyers were strongly advised to secure pre-approval through local mortgage loan originators to enhance their financial readiness during highly competitive conditions.

Curious about today’s mortgage rates and the home you can comfortably afford?

Submit a no-obligation mortgage application today and get pre-approved to determine your budget and take the first step toward homeownership with confidence.

GET PRE-APPROVED FOR A MORTGAGE

Overview of Differences Between the 2020 and 2021 Real Estate Markets in Princeton, Texas

Volume of Sales

Sales volume surged from 560 homes in 2020 to 849 homes in 2021, marking a 51% increase, reflecting heightened market activity and buyer demand.

Pricing

  • Minimum Price: Increased from $122,458 to $130,000, showing a slight rise in entry-level pricing.
  • Maximum Price: Jumped significantly from $734,000 to $1,025,000, illustrating growth in the luxury segment.
  • Average Price: Rose from $260,958 to $311,550, a $50,592 increase showcasing steady appreciation.
  • Median Price: Climbed from $248,950 to $300,000, reflecting overall market growth.

Market Efficiency

  • Days on Market (DOM): Declined from 40 to 38 days, indicating slightly faster transactions.
  • ClsPr/LstPr Ratio: Improved from 98.52% to 101.70%, highlighting strong buyer willingness to pay above listing prices.
  • ClsPr/OLP Ratio: Increased from 99.29% to 104.22%, showcasing competitive offers even on original listings.

Property Features

  • Average Square Footage: Grew from 2,080 sqft in 2020 to 2,080 sqft in 2021, remaining stable.
  • Average Lot Size: Declined slightly, with acreage medians dropping from 0.150 to 0.145 acres, reflecting smaller lot sizes on average.
  • Homes with Pools: Decreased from 15 homes in 2020 to 12 in 2021, reducing leisure-oriented inventory.
  • New Construction Homes: Boomed from 224 homes in 2020 to 402 in 2021, emphasizing accelerating development and homebuyer interest in new builds.

Economic Context

Mortgage rates dipped from 3.38% to 3.15%, making home purchases more accessible, despite rising property values. The sustained influence of the pandemic further drove demand for larger and lifestyle-oriented properties, as families continued to prioritize comfort over location.

These differences highlight the rapid growth and dynamic shifts in Princeton’s real estate market during 2021, underscoring its resilience and adaptability in a transitioning economic climate.

Summary of Real Estate Market Analysis for Princeton, TX in 2021

The 2021 real estate market in Princeton, TX was marked by intense activity and opportunity, creating unique dynamics for both homebuyers and home-sellers.

Homebuyers’ Perspective

For homebuyers, historically low mortgage rates averaging 3.15% provided a rare opportunity to secure financing at affordable terms. However, increased property prices—especially with the average price rising to $311,550—created challenges for entry-level buyers. New construction homes, accounting for 402 of the sales, stood out as an attractive option for those seeking modern amenities and energy-efficient features. The competitive nature of the market, reflected in the jump in close-to-list price ratios above 101.70%, meant buyers needed to act quickly and decisively to secure their desired properties. For many, focusing on lifestyle priorities like additional space and comfort became more critical than ever.

Home-Sellers’ Perspective

For home-sellers, the 2021 market offered strong incentives, with higher property valuations driving increased profits. The rise in both average and median prices represented a lucrative environment to sell, while a slightly shorter 38-day average DOM indicated sustained buyer interest. Sellers who priced their properties competitively were more likely to attract offers above the listing price, as shown by the robust ClsPr/LstPr ratios. Larger homes with features like more bedrooms, larger lot sizes, or pools continued to command attention, and the growing demand for spacious, lifestyle-oriented properties presented an opportunity to maximize value. By tailoring listings to highlight these sought-after features, sellers could further capitalize on the prevailing market trends.

2021 showcased a market shaped by resilience and adaptability. Lower financing costs and evolving buyer priorities drove competitive demand, while sellers enjoyed the rewards of higher valuations for well-positioned properties. Both groups benefited from the dynamic synergy of accelerated development and shifting needs, solidifying Princeton’s market strength during another extraordinary year.

The Importance of Statistical Data in Princeton, Texas Real Estate Market

Did you know that appraisers and Realtors rely on historical statistical data to determine a property’s current value?

Analyzing historical market data is essential for making informed decisions in today’s real estate market. Examining past trends provides valuable insights that facilitate accurate pricing, more strategic negotiations, and a comprehensive understanding of market dynamics. By understanding market dynamics, both homebuyers and home-sellers can leverage the conditions to achieve their goals.

Unlock Exceptional Service!

Assistance with all your real estate needs in the Dallas-Fort Worth area is just a click or call away. Reach out at 214-940-8149 or connect through the links below.

Home Buyers Contact Form
HOME SELLERS CONTACT FORM
Apply For A Home Loan

For more information, please visit my contact page.

Oleg Sedletsky REALTOR® and Mortgage Loan Originator in Princeton, TX, and Dallas-Fort Worth

Oleg Sedletsky REALTOR® in Princeton, Texas. Call/Text 214.940.8149 

Greetings! I’m Oleg Sedletsky, and I’m excited to introduce myself as your go-to full-time licensed Texas REALTOR® and Mortgage Loan Originator.

I proudly represent JPAR® – Real Estate Brokerage as a REALTOR® and Utopia Mortgage LLC as a Mortgage Loan Originator! My designations and certifications reflect my dedication to helping you achieve your real estate goals in Princeton, TX and other locations in the vibrant Dallas-Fort Worth area!

My commitment to ongoing professional development means I’m always enhancing my skills to serve you better. You can count on me as your trusted expert throughout your real estate journey. Plus, I’m fluent in English, Ukrainian, and Russian and ready to assist you every step of the way!

Oleg Sedletsky REALTOR® Designations and Certifications:ABR® - Accredited Buyer's Representative SRS -The Seller Representative SpecialistGRI - The Graduate, REALTOR® InstituteRENE - The Real Estate Negotiation ExpertServing Allen TX, McKinney TX,

It’s All About You and Your Real Estate Goals!

My mission is to serve you! With my knowledge and expertise, I’m here to help you achieve all your real estate goals!
I’m passionate about helping buyers and sellers navigate the exciting real estate landscape in Princeton, Texas! Whether you’re searching for your dream home, exploring land options, or looking for commercial properties, my Real Estate Services have you covered.

Contact me today for all your real estate needs in Princeton, Texas! Call/text 214-940-8149

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.

by admin

Princeton, TX Real Estate and Homes For Sale - 2020 Single-Family Residential Housing Market Analysis

Princeton, TX Real Estate: A Comprehensive Analysis of the 2020 Single-Family Residential Housing Market

The 2020 real estate market in Princeton, Texas reflected resilience amidst the unprecedented challenges of COVID-19. The pandemic sparked changes in housing demand, as remote work and health concerns reshaped priorities. This analysis examines the year’s performance, focusing on key metrics such as pricing, property features, and market trends that defined Princeton during this unique period.

Key Takeaways and Trends from Princeton’s 2020 Real Estate Market

Pricing Range: The market expanded upward, with the highest sale at $734,000 and a broader gap between high and low ends.

Market Efficiency: Minor shifts in DOM suggest homebuyers were still quick to close, but price corrections were slightly more common.

Unique Outliers: Larger acreage and pools in high-end homes gained traction.

Mortgage Rates Impact: The drop to an average of 3.38% made homeownership more accessible, fueling market activity.

Princeton, TX Real Estate and Homes For Sale - 2020 Single-Family Residential Housing Market Analysis

Total Homes Closed

A total of 560 homes closed in 2020, an increase from 514 in 2019.

New construction homes: Represented 224 properties, down from the previous year’s count.

Homes with pools: Grew significantly to 15 homes, signaling increased demand for lifestyle features as buyers sought more leisure amenities amidst pandemic lockdowns.

Property Pricing Insights

  • Minimum price: $55,500, reflecting higher affordability compared to 2019.
  • Maximum price: $734,000, a notable peak reflecting luxury market demand.
  • Average price: $260,958, an increase reflective of robust market performance.
  • Median price: $248,950, significantly higher than the mid-point price from the previous year.

Property Size and Features

  • Beds: Properties averaged 4 bedrooms, maintaining the previous year’s trend.
  • Baths: Average was 2 bathrooms, with full baths remaining consistent across properties.
  • Square footage: Ranged from 820 to 4,662 sqft, with an average of 2,027 sqft, larger than in 2019.
  • Lot Size: Expanded, with plenty sizes averaging 0.511 acres, larger than 2019’s figure.

Market Dynamics

  • Days on Market (DOM): Increased marginally to 40 days from the previous year’s average of 38 days.
  • ClsPr/LstPr Ratio: Achieved 98.52%, showing minor adjustments compared to 2019.
  • ClsPr/OLP Ratio: Slightly improved to 99.29%, reflecting stronger alignment with original listing prices.
  • Average price per square foot: Rose to $131.02, indicating incremental value increases.

Insights into the Most Expensive Princeton, TX Property Sold in 2020

The standout property of 2020 was a luxurious home priced at $734,000. This home featured high-end finishes, ample space, and premium amenities, including a pool and 12 acres of land.

Key Highlights:

  • Beds: 3
  • Baths: 3 (2 full, 1 half)
  • Size: 3,034 sqft
  • Lot: 12.27 acres
  • Price per sqft: $241.92
  • Days on Market: 25
  • ClsPr/LstPr & ClsPr/OLP Ratios: 97.88%
  • Year Built: 1995

This property exemplifies the continued interest in premium homes offering privacy and space, particularly during the pandemic when lifestyle needs changed.

Economic context

Historical Economic Data for Dallas-Fort Worth, 2020

Average Electricity Costs in Dallas-Fort Worth in 2020

Electricity prices returned to $0.13 per kilowatt-hour in 2020, slightly lower than 2019’s $0.14. This small decrease might have supported household budgets as the economy faced numerous uncertainties. Energy savings further highlighted the appeal of efficient homes, adding value to sustainable designs and energy-conscious upgrades.

Average Price for Regular Gasoline in Texas in 2020

Gas prices dipped to $1.82 per gallon in 2020, down significantly from $2.29 in 2019. Lower transportation costs provided financial relief to homebuyers, potentially boosting interest in suburban and rural areas where homes were larger and more affordable. The drop in gas prices gave buyers more flexibility in location choices.

Average 30-Year Fixed Mortgage Rate in 2020

Mortgage rates averaged just 3.38% in 2020, a steep drop from 4.13% the previous year. This marked an historic low, attracting a surge of homebuyers eager to lock in affordable financing. Pre-approval with local mortgage loan originators became an essential first step as buyers navigated increased competition in a hot market.

Curious about today’s mortgage rates and the home you can comfortably afford?

Submit a no-obligation mortgage application today and get pre-approved to determine your budget and take the first step toward homeownership with confidence.

GET PRE-APPROVED FOR A MORTGAGE

Overview of Differences Between the 2019 and 2020 Real Estate Markets in Princeton, Texas

Volume of Sales

Sales volume increased from 514 homes in 2019 to 560 homes in 2020, reflecting a strong and growing market despite the pandemic.

Pricing

  • Minimum price rose from $40,000 to $55,500, showing greater entry-level price stability.
  • Maximum price increased from $600,000 to $734,000, highlighting growing demand in the luxury segment.
  • Average price jumped from $234,809 to $260,958, a year-over-year increase of over $26,000.
  • Median price climbed from $220,000 to $248,950, reflecting more consistent value growth.

Market Efficiency

  • Days on Market (DOM): Increased slightly from 38 to 40 days, indicating a slightly slower pace of sales.
  • ClsPr/LstPr Ratio: Decreased marginally from 98.84% to 98.52%, signaling small price adjustments to close deals.
  • ClsPr/OLP Ratio: Improved from 99.13% to 99.29%, showing stronger alignment with original listing prices.

Property Features

  • Square Footage: Average property size grew from 1,892 sqft in 2019 to 2,027 sqft in 2020, suggesting buyers sought larger homes.
  • Lot Size: The average lot size increased from 0.487 acres to 0.511 acres, reflecting a desire for more outdoor space during a pandemic year.
  • Homes with Pools: Increased from 7 homes in 2019 to 15 homes in 2020, showcasing growing interest in lifestyle and leisure properties.
  • New Construction Homes: Declined from 275 homes in 2019 to 224 in 2020, suggesting a disruption in construction activity or a potential shift in focus toward preowned homes.

Economic Context

The average 30-year fixed mortgage rate fell from 4.13% in 2019 to 3.38% in 2020, enhancing affordability and driving higher sales activity.

COVID-19 reshaped buyer preferences, as work-from-home trends increased demand for spacious homes, larger lots, and lifestyle-enhancing features like pools.

Despite the challenges brought by the pandemic, the real estate market in Princeton, TX experienced significant growth and demonstrated remarkable adaptability, highlighting its resilience and ability to cater to evolving buyer needs.

Summary of Real Estate Market Analysis for Princeton, TX in 2020

The 2020 real estate market in Princeton, TX showcased both opportunity and competition, with insights for homebuyers and home-sellers.

Homebuyers’ Perspective

For homebuyers, the market offered enticing opportunities despite increasing prices. The drop in the average 30-year fixed mortgage rate to 3.38% made homeownership more affordable, allowing many to explore larger homes, spacious lots, and properties with pools—features that gained popularity due to the pandemic. However, the rising average and median prices meant entry-level buyers faced more competition and higher costs. Quick decision-making was crucial, as homes spent an average of 40 days on the market, slightly longer than the previous year but still indicative of high demand. Buyers looking for value could still find opportunities in resale properties and leverage market trends favoring lifestyle-driven features.

Home-Sellers’ Perspective

Home-sellers found themselves in a favorable position as the market remained robust, with average property prices increasing to $260,958 and median prices to $248,950. This growth in value was supported by a strong appetite for spacious homes and unique property features like pools or large lots. Sellers could capitalize on these trends by emphasizing such amenities. However, the slight increase in Days on Market (40 days) underscored the importance of pricing strategies that appealed to well-informed buyers.

Additionally, close price ratios—ClsPr/LstPr at 98.52% and ClsPr/OLP at 99.29%—showcased the importance of accurately listing homes, providing high-quality photos and property videos, and embracing the growing demand for 3D virtual tours—an innovation driven by the pandemic to sustain buyer interest while reducing the need for price cuts. Sellers who aligned with buyer preferences for lifestyle and space found greater success in closing deals faster.

Overall, Princeton’s 2020 real estate market thrived despite the challenges posed by COVID-19, offering affordability and lifestyle features to buyers, while rewarding sellers with higher property valuations and strong buyer interest. Both groups’ ability to adapt to shifting trends defined market resilience during this extraordinary year.

The Importance of Statistical Data in Princeton, Texas Real Estate Market

Did you know that appraisers and Realtors rely on historical statistical data to determine a property’s current value?

Analyzing historical market data is essential for making informed decisions in today’s real estate market. Examining past trends provides valuable insights that facilitate accurate pricing, more strategic negotiations, and a comprehensive understanding of market dynamics. By understanding market dynamics, both homebuyers and home-sellers can leverage the conditions to achieve their goals.

Unlock Exceptional Service!

Assistance with all your real estate needs in the Dallas-Fort Worth area is just a click or call away. Reach out at 214-940-8149 or connect through the links below.

Home Buyers Contact Form
HOME SELLERS CONTACT FORM
Apply For A Home Loan

For more information, please visit my contact page.

Oleg Sedletsky REALTOR® and Mortgage Loan Originator in Princeton, TX, and Dallas-Fort Worth

Oleg Sedletsky REALTOR® in Princeton, Texas. Call/Text 214.940.8149 

Greetings! I’m Oleg Sedletsky, and I’m excited to introduce myself as your go-to full-time licensed Texas REALTOR® and Mortgage Loan Originator.

I proudly represent JPAR® – Real Estate Brokerage as a REALTOR® and Utopia Mortgage LLC as a Mortgage Loan Originator! My designations and certifications reflect my dedication to helping you achieve your real estate goals in Princeton, TX and other locations in the vibrant Dallas-Fort Worth area!

My commitment to ongoing professional development means I’m always enhancing my skills to serve you better. You can count on me as your trusted expert throughout your real estate journey. Plus, I’m fluent in English, Ukrainian, and Russian and ready to assist you every step of the way!

Oleg Sedletsky REALTOR® Designations and Certifications:ABR® - Accredited Buyer's Representative SRS -The Seller Representative SpecialistGRI - The Graduate, REALTOR® InstituteRENE - The Real Estate Negotiation ExpertServing Allen TX, McKinney TX,

It’s All About You and Your Real Estate Goals!

My mission is to serve you! With my knowledge and expertise, I’m here to help you achieve all your real estate goals!
I’m passionate about helping buyers and sellers navigate the exciting real estate landscape in Princeton, Texas! Whether you’re searching for your dream home, exploring land options, or looking for commercial properties, my Real Estate Services have you covered.

Contact me today for all your real estate needs in Princeton, Texas! Call/text 214-940-8149

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.

by admin

Princeton, TX Real Estate and Homes For Sale - 2019 Single-Family Residential Housing Market Analysis

Princeton, TX Real Estate: A Comprehensive Analysis of the 2019 Single-Family Residential Housing Market

The Princeton, Texas real estate market in 2019 displayed balanced growth and stability amid evolving buyer preferences and fluctuating economic conditions. This analysis identifies trends, highlights notable data, and examines key market dynamics, providing a comprehensive look at Princeton’s housing activity over the year.

Key Takeaways and Trends from Princeton’s 2019 Real Estate Market

Pricing Range: Homes spanned from $40,000 to $600,000, indicating a wider affordability spectrum. While the average price saw marginal growth, the minimum price drop allowed more entry-level opportunities.

Market Efficiency: Rising DOM to 38 days suggests slower sales turnover, but improved ClsPr/OLP and ClsPr/LstPr ratios indicate slightly firmer pricing expectations.

Unique Outliers: The most expensive sale demonstrated demand for high-end amenities but required nearly 7 months on market.

Mortgage Rates Impact: Lower mortgage rates at 4.13%, compared to 4.70% in the prior year, improved affordability and may have stabilized the market.

Princeton, TX Real Estate and Homes For Sale - 2019 Single-Family Residential Housing Market Analysis

Total Homes Closed

  • Closed transactions: The market closed 514 homes, showing steady activity with only a minor decline from 2018’s 525.
  • New construction homes: Sales reached 275 homes, increasing from 264 in 2018, underscoring strong development efforts.
  • Homes with pools: Dip in sales to 7 homes from 10 properties in 2018, reflecting a downward trend in luxury pool homes.

Property Pricing Insights

The market displayed slight price adjustments compared to 2018:

  • Minimum price: Fell significantly from $72,000 to $40,000, introducing more affordable options.
  • Maximum price: Incrementally increased from $599,000 to $600,000, driven by a luxury property at the upper end.
  • Average price: Rose marginally by 0.6%, from $233,494 to $234,809, maintaining steady pricing levels.
  • Median price: Decreased slightly to $227,900, down from $228,900, signaling stabilization in the mid-market.

Property Size and Features

Princeton’s homes catered to varied preferences with consistent property features:

  • Bedrooms: Average of 4 bedrooms, consistent with 2018.
  • Bathrooms: Average of 2 bathrooms, unchanged from the prior year.
  • Square footage: Average size declined modestly to 1,867 sqft, down from 1,897 sqft in 2018.
  • Lot sizes: Averaged 0.304 acres, smaller than 2018’s 0.377 acres, reflecting more compact real estate options.

Market Dynamics

The market shifted slightly in terms of efficiency and value:

  • Days on Market (DOM): Homes averaged 38 days, up from 30 days in 2018, indicating slower turnover.
  • ClsPr/LstPr Ratio: Remained steady at 98.84%, a minor improvement from 98.79%.
  • ClsPr/OLP Ratio: Rose to 99.13%, improving from 97.81%, showing better alignment of closing and original prices.
  • Average price per sqft: Increased to $128.40, up from 2018’s $125.24, reflecting a 2.5% growth in property value per unit space.

Insights into the Most Expensive Princeton, TX Property Sold in 2019

The standout sale of the year was a luxurious home featuring:

  • Price: $600,000
  • Beds/Baths: 4 bedrooms, 4 bathrooms (3 full, 1 half)
  • Square Footage: 4,612 sqft
  • Price per sqft: $130.10
  • Lot Size: 1.390 acres
  • Days on Market (DOM): 218 days
  • ClsPr/LstPr Ratio: 100.00%
  • ClsPr/OLP Ratio: 92.31%
  • Year Built: 2001
  • Unique Feature: Included a pool for premium outdoor living

This high-value property highlighted continued interest in luxury homes within Princeton, despite its extended DOM of 218 days. The sale showcased buyer willingness to pay premium prices for spacious homes with amenities, such as a private pool.

Economic context

Historical Economic Data for Dallas-Fort Worth, 2019

Average Electricity Costs in Dallas-Fort Worth in 2019

The average electricity price in 2019 climbed to $0.14 per kilowatt-hour, up from $0.13 in 2018. This uptick added some pressure on household budgets, further solidifying the need for energy-efficient homes. Properties featuring solar panels or smart home technologies likely gained value as homebuyers sought ways to mitigate rising energy expenses.

Average Price for Regular Gasoline in Texas in 2019

Gas prices fell slightly to $2.29 per gallon in 2019, down from $2.44 in 2018. This small decline brought modest relief to transportation costs and may have encouraged suburban home purchases, where commuting distances tend to be longer. Homebuyers likely balanced fuel costs with home prices when making location decisions.

Average 30-Year Fixed Mortgage Rate in 2019

Mortgage rates averaged 4.13% in 2019, down from 4.70% the year before. This noticeable decline made homeownership more attainable for many homebuyers and likely spurred activity in the housing market. Pre-approvals through local mortgage loan originators remained key for buyers wanting to confidently pursue homes amid favorable rate conditions.

Curious about today’s mortgage rates and the home you can comfortably afford?

Submit a no-obligation mortgage application today and get pre-approved to determine your budget and take the first step toward homeownership with confidence.

GET PRE-APPROVED FOR A MORTGAGE

Overview of Differences Between the 2018 and 2019 Real Estate Markets in Princeton, Texas

Volume of Sales

Closed transactions slightly declined from 525 homes in 2018 to 514 homes in 2019, reflecting a 2.1% decrease.

Pricing

  • Minimum price: Dropped from $72,000 to $40,000, introducing more affordable options.
  • Maximum price: Increased marginally from $599,000 to $600,000, indicating consistent high-end market interest.
  • Average price: Rose slightly by 0.6%, from $233,494 to $234,809, maintaining price stability.
  • Median price: Declined marginally from $228,900 to $227,900, signaling a slight shift in mid-market dynamics.

Market Efficiency

  • Days on Market (DOM): Increased from 30 days to 38 days, showing slightly slower turnover.
  • ClsPr/LstPr Ratio: Improved slightly from 98.79% to 98.84%, reflecting stable seller pricing.
  • ClsPr/OLP Ratio: Grew from 97.81% to 99.13%, signaling better alignment with original listing prices.

Property Features

  • Square footage: Decreased slightly from 1,897 sqft to 1,867 sqft, indicating slightly smaller homes overall.
  • Lot size: Reduced from 0.377 acres to 0.304 acres, a shift toward more compact property offerings.
  • Homes with pools: Fell from 10 homes in 2018 to 7 homes in 2019, marking a decline in this luxury feature.
  • New construction homes: Increased from 264 homes in 2018 to 275 homes in 2019, demonstrating continued strength in development.

Economic Context

  • Mortgage rates: Dropped from 4.70% in 2018 to 4.13% in 2019, improving housing affordability.
  • Average electricity cost: Rose slightly from $0.13 to $0.14 per kilowatt hour, while gas prices fell from $2.44 to $2.29 per gallon, balancing living costs.

The 2019 market was marked by marginal adjustments, with a slight cooling in sales volume and DOM increasing. However, pricing remained consistent, and new construction saw growth, supported by lower mortgage rates, providing stability and growth opportunities.

Summary of Real Estate Market Analysis for Princeton, TX in 2019

The 2019 real estate market in Princeton, Texas presented a balanced landscape with opportunities and challenges for both homebuyers and home-sellers.

Homebuyers’ Perspective

For homebuyers, 2019 was a year of increased affordability and opportunity. With the minimum home price dropping to $40,000, entry-level buyers found it easier to enter the market. The surge in new construction homes (275 properties) offered modern design and updated features, appealing to those seeking move-in-ready options. Additionally, lower mortgage rates (4.13%) boosted affordability by reducing monthly payments, making homeownership more attainable.

Buyers also had room to negotiate, particularly on properties with longer Days on Market (38 days) compared to the previous year. This added time allowed buyers to carefully evaluate options and secure favorable deals, especially on higher-priced or luxury homes.

Home-Sellers’ Perspective

Home-sellers faced increased competition and evolving buyer preferences, requiring strategic adjustments to ensure success. The slight rise in DOM meant it was crucial to price homes competitively from the start. Accurate and realistic pricing aligned with market expectations could lead to quicker closings and fewer adjustments throughout the sales process. However, the improved ClsPr/LstPr (98.84%) and ClsPr/OLP (99.13%) ratios showed that buyers were willing to meet listing prices for well-positioned properties.

New construction homes proved to dominate, reflecting continued demand for updated amenities and turnkey homes. Sellers of older properties might benefit from minor upgrades to match these buyer preferences. Additionally, while pool homes saw a decline in sales to just 7 properties, luxury homes—like the $600,000 standout sale—demonstrated demand for premium features such as larger living areas, pools, and expansive lots. Sellers in this segment should prepare for longer timelines but know that buyers are still willing to pay for the right property.

The Importance of Statistical Data in Princeton, Texas Real Estate Market

Did you know that appraisers and Realtors rely on historical statistical data to determine a property’s current value?

Analyzing historical market data is essential for making informed decisions in today’s real estate market. Examining past trends provides valuable insights that facilitate accurate pricing, more strategic negotiations, and a comprehensive understanding of market dynamics. By understanding market dynamics, both homebuyers and home-sellers can leverage the conditions to achieve their goals.

Unlock Exceptional Service!

Assistance with all your real estate needs in the Dallas-Fort Worth area is just a click or call away. Reach out at 214-940-8149 or connect through the links below.

Home Buyers Contact Form
HOME SELLERS CONTACT FORM
Apply For A Home Loan

For more information, please visit my contact page.

Oleg Sedletsky REALTOR® and Mortgage Loan Originator in Princeton, TX, and Dallas-Fort Worth

Oleg Sedletsky REALTOR® in Princeton, Texas. Call/Text 214.940.8149 

Greetings! I’m Oleg Sedletsky, and I’m excited to introduce myself as your go-to full-time licensed Texas REALTOR® and Mortgage Loan Originator.

I proudly represent JPAR® – Real Estate Brokerage as a REALTOR® and Utopia Mortgage LLC as a Mortgage Loan Originator! My designations and certifications reflect my dedication to helping you achieve your real estate goals in Princeton, TX and other locations in the vibrant Dallas-Fort Worth area!

My commitment to ongoing professional development means I’m always enhancing my skills to serve you better. You can count on me as your trusted expert throughout your real estate journey. Plus, I’m fluent in English, Ukrainian, and Russian and ready to assist you every step of the way!

Oleg Sedletsky REALTOR® Designations and Certifications:ABR® - Accredited Buyer's Representative SRS -The Seller Representative SpecialistGRI - The Graduate, REALTOR® InstituteRENE - The Real Estate Negotiation ExpertServing Allen TX, McKinney TX,

It’s All About You and Your Real Estate Goals!

My mission is to serve you! With my knowledge and expertise, I’m here to help you achieve all your real estate goals!
I’m passionate about helping buyers and sellers navigate the exciting real estate landscape in Princeton, Texas! Whether you’re searching for your dream home, exploring land options, or looking for commercial properties, my Real Estate Services have you covered.

Contact me today for all your real estate needs in Princeton, Texas! Call/text 214-940-8149

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.

by admin