The 2011 real estate market in Celina, Texas, demonstrated steady activity and offered diverse options for homebuyers. This analysis examines market performance, buyer and seller dynamics, and economic influences shaping the year’s transactions. Key trends such as pricing ranges, market efficiencies, and the impact of interest rates are explored to provide a comprehensive view of residential single-family home sales.

Total Homes Closed

A total of 145 homes sold in 2011, representing a 12% increase over the previous year’s figure of 130. Within this cohort:

• 16 homes featured pools, meeting the demand for amenity-rich properties.
• 49 new construction homes highlighted growing interest in modern, updated homes within the city.

Property Pricing Insights

• Minimum Sale Price: $33,500
• Maximum Sale Price: $850,000
• Average Sale Price: $224,988
• Median Sale Price: $192,500

The range of pricing allowed buyers with varying budgets to find opportunities. The average and median prices suggest a moderately priced market, although luxury properties, such as the most expensive estate, slightly elevated the averages.

Property Size and Features

• Bedrooms: Most homes featured 4 bedrooms, with a range of 1–5 across the dataset.
• Bathrooms: The average home offered 3 bathrooms, with a maximum of 6 (5 full, 1 half).
• Square Footage: Total square footage varied from 711 to a spacious 5,463, with an average home size of 2,746 sq. ft.
• Lot Size Area: Average lot size was 1.44 acres, but the median lot size of 0.29 acres suggests smaller lots were more common. Larger estates, particularly outliers, inflated the averages.

Market Dynamics

• Days on Market (DOM): Average DOM increased to 107 days, slightly longer than in 2010, though many homes still sold relatively quickly. DOM ranged from a minimum of 2 days to a maximum of 536.
• Close Price to Listing Price Ratio (ClsPr/LstPr): Averaged 95.63%, with a median ratio of 97.00%, reflecting sellers’ realistic pricing strategies.
• Close Price to Original Listing Price Ratio (ClsPr/OLP): Averaged 90.65%, indicating some additional discounting relative to original list prices.
• Average Price per SqFt: Settled at $78.60, offering competitive value compared to more expensive regions.

Although the market required slightly more time to absorb properties, pricing stability remained a positive attribute throughout 2011.

Economic context

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.

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

The 2011 real estate market in Celina, TX reflected a year of steady activity, balancing affordability with opportunities for high-end purchases. With 145 closed sales and a median sales price of $192,500, the market demonstrated resilience and accessibility for diverse buyers and sellers.

Homebuyers and First-Time Homebuyers Perspective

For homebuyers, especially first-time buyers, 2011 presented strong opportunities to enter the market. Competitive home prices, coupled with a favorable average mortgage rate of 4.65%, boosted affordability. However, securing mortgage pre-approval became a crucial, non-negotiable step in gaining an edge in the home-buying process. Pre-approval signaled to sellers that buyers were serious and financially ready, which often helped their offers stand out in a competitive environment. Additionally, working with experienced realtors proved invaluable for homebuyers. Realtors provided expert guidance on pricing trends, negotiation strategies, and property selection, ensuring buyers were well-informed and confident in their decisions.

Home-Sellers Perspective

For home sellers, navigating the 2011 market required strategic pricing and marketing. On average, properties spent 107 days on the market, emphasizing the importance of effective marketing to attract buyers. Home-sellers relied heavily on the expertise of realtors to determine competitive pricing and promote listings to the right audience.  Sellers who followed their realtor’s advice often achieved strong results, as seen in the market’s average close price-to-list price ratio of 95.63%. Even in the case of unique, high-end properties, such as the year’s most expensive home, strategic marketing played a key role in securing quick and impressive sales.

Final Thoughts

The 2011 real estate market in Celina, Texas showcased the benefits of preparation and expertise for everyone involved. Buyers who were proactive in obtaining mortgage pre-approval and worked collaboratively with realtors gained significant advantages. Sellers, too, benefited from relying on their realtor’s guidance and marketing efforts, ensuring their properties were strategically positioned for success. Ultimately, the market rewarded informed participants; buyers and sellers who understood trends, respected the value of preparation, and partnered with professionals found themselves in a stronger position. The year set a standard for balanced growth in Celina, signaling positive potential for the future of its real estate market.

Why Historical Statistical Data Matters in the Celina, Texas Real Estate Market

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

The information presented above is just a small glimpse into the wealth of essential data available to help both homebuyers and sellers set realistic expectations and gain an initial understanding of the real estate market in Celina, Texas. Real estate transactions are intricate, and what you see here is merely a sample of the many factors at play in each deal in this city.

Beyond these insights, a comprehensive analysis is available that focuses on specific aspects like zip codes, neighborhoods, and homes within certain school districts in Celina. This granular data dives deeper into market trends, allowing for a precise understanding of local dynamics. Additionally, historical data plays a critical role in crafting informed strategies, providing the context needed to make confident decisions that align with your goals.

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