The Celina, Texas real estate market in 2016 demonstrated steady growth, with notable increases in total sales volume and average sales price. Favorable economic conditions, including lower mortgage rates and energy costs, further encouraged robust buyer activity. This analysis explores the year’s major trends, offering in-depth insights into property prices, key features, and market dynamics.

Total Homes Closed

A total of 416 homes were sold in 2016, marking a significant increase from the prior year.

• 221 were new construction homes, reflecting the robust demand for contemporary designs.
• Additionally, 39 homes sold featured pools, indicating sustained interest in recreational amenities.

Property Pricing Insights

• Minimum Price: $69,494
• Maximum Price: $2,142,600
• Average Price: $378,897
• Median Price: $356,236

The property prices showed healthy growth, driven by a mix of affordable and high-end transactions.

Property Size and Features

Bedrooms: Average of 4 bedrooms per home.

Bathrooms: Average of 3 (including full and half baths).

Square Footage:

• Minimum: 960 sq. ft.
• Maximum: 9,057 sq. ft.
• Average: 2,906 sq. ft.

Lot Size:

• Maximum: 20.188 acres.
• Average: 0.771 acres.

These metrics highlight the variety of property sizes available to meet diverse buyer needs.

Market Dynamics

• Days on Market (DOM): Average of 58 days, showing relatively quick sales turnover.
• ClsPr/LstPr Ratio: Average of 97.42% indicates sellers were able to close near asking prices.
• ClsPr/OLP Ratio: Average of 96.56% reflects consistent buyer interest and realistic initial pricing strategies.
• Average Price per Square Foot (Pr$/SqFt): $129.25, marking an increase in property value compared to prior years.

The market dynamics convey a competitive environment, with homes selling faster and closer to their asking prices.

Economic context

Average Electricity Costs in Dallas-Fort Worth in 2016

Electricity prices continued to decrease, settling at $0.11 per kilowatt-hour in 2016, down from $0.12 in 2015. This steady decline further incentivized interest in larger homes, which naturally consume more power. The trend also nudged developers to prioritize energy efficiency in new housing projects.

Average Price for Regular Gasoline in Texas in 2016

Gas prices dropped further to $1.91 per gallon in 2016, down from $2.17 in 2015. This decline reduced commuter expenses, inspiring homebuyers to explore housing options further from city centers. Properties in areas with good road infrastructure likely became more desirable, as homebuyers factored in affordable fuel costs.

Average 30-Year Fixed Mortgage Rate in 2016

Mortgage rates fell slightly again, settling at 3.79% in 2016, compared to 3.99% the prior year. This favorable environment for financing encouraged many homebuyers to jump into the market. Getting pre-approved with a local mortgage loan originator ensured buyers could seize opportunities quickly and position themselves in a competitive 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.

Summary of Real Estate Market Analysis for Celina, TX in 2016

The 2016 real estate market in Celina, Texas demonstrated remarkable activity and growth. The surge in total homes sold, coupled with favorable economic conditions like lower mortgage rates and declining energy costs, created a competitive and attractive environment for both buyers and sellers. With an increased availability of new construction homes and highly desirable listings, the year highlighted the market’s adaptability to diverse buyer preferences and seller ambitions.

Homebuyers and First-Time Homebuyers Perspective

For homebuyers, especially first-time buyers, 2016 was rich with opportunities. Lower mortgage rates of 3.79% made homeownership more attainable, while the wide range of pricing options—from entry-level to luxury properties—catered to varied budgets.
Securing mortgage pre-approval was crucial in such a fast-moving market, giving buyers an edge by increasing their credibility and streamlining the buying process.
The increase in new construction homes further provided modern, move-in-ready housing options, appealing particularly to those looking for contemporary amenities and energy-efficient designs. Buyers needed to act swiftly, as homes spent an average of just 58 days on the market, reflecting a fast-paced and competitive buying process.

Home-Sellers Perspective

For home-sellers, 2016 was a favorable year, with an average close price to listing price ratio of 97.42%, reflecting strong buyer demand. The increase in average property values and price per square foot bolstered selling confidence, while well-maintained and updated homes sold quickly in the competitive market. The growing popularity of new construction did, however, create added pressure for older properties to match aesthetic and functional standards. Sellers benefited greatly from collaborating with realtors, who provided important marketing strategies, crafted effective listing presentations, and advised on competitive pricing.

Final Thoughts

The 2016 real estate market in Celina, TX showcased a balance of opportunities and challenges for both buyers and sellers. Lower mortgage rates and robust activity in new construction encouraged market growth, while the fast pace of transactions emphasized the need for informed decision-making and timely actions. This year reinforced the importance of preparation, strategy, and adaptability in achieving success in the 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.

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

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 Celina, 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 Celina, Texas! Call/text 214-940-8149

A Comprehensive Analysis of Single-Family Residential Housing Market in Celina, TX: 2010 to Present

Discover the trends, stats, and insights shaping Celina’s real estate market year by year!