The 2022 real estate market in Celina, Texas underwent notable transformations as rising mortgage rates redefined both buyer behavior and seller strategies. This analysis explores the key trends, pricing fluctuations, and standout properties, offering a comprehensive overview of the market’s shifting dynamics.

Total Homes Closed

A total of 908 homes were sold in 2022, representing a continued reduction from previous years. Among them, 309 were new construction homes, showing developers adapting cautiously to market trends. Also, 77 homes with pools were sold, highlighting sustained demand for luxury and lifestyle-enhancing features.

Property Pricing Insights

• Minimum Price: $143,000
• Maximum Price: $7,000,000
• Average Price: $687,117
• Median Price: $630,949

While the average and median prices reflect a strong demand for mid-to-upper-tier homes, the high-end market saw growth as evidenced by the significant increase in the maximum price compared to prior years.

Property Size and Features

• Average Bedrooms: 4
• Average Bathrooms: 3
• Average Square Footage: 2,861 sq. ft.
• Average Lot Size: 0.369 acres

Properties offered ample space for buyers, aligning with post-pandemic preferences for larger homes that accommodate flexible living arrangements.

Market Dynamics

• Average Days on Market (DOM): 27 days
• Average Close Price to Listing Price (ClsPr/LstPr): 102.28%
• Average Close Price to Original Listing Price (ClsPr/OLP): 101.36%
• Average Price Per Square Foot: $241.69

Homes moved briskly, often selling above the initial listing price. This trend reflects a still-competitive market despite cooling demand in some segments due to rising borrowing costs.

Economic context

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.

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

The 2022 real estate market in Celina, Texas reflected notable shifts, with rising mortgage rates playing a central role in shaping both buyer behavior and seller strategies. Despite these challenges, the market displayed resilience, with opportunities for both buyers and sellers to succeed when equipped with the right knowledge and support from experienced real estate professionals.

Homebuyers and First-Time Homebuyers Perspective

For homebuyers, especially first-time buyers, navigating the market required strong preparation and strategic planning. Mortgage pre-approval proved to be a critical step, allowing buyers to understand their financial limits and position themselves as credible contenders in competitive situations. The guidance of skilled realtors further enhanced the experience, offering invaluable market insights, negotiation expertise, and clarity in decision-making. Home-Buyers benefited greatly from staying informed, working with professionals, and adapting to economic changes such as fluctuating interest rates.

Home-Sellers Perspective

For home sellers, the year highlighted the importance of strategic pricing and marketing to attract buyers amidst a shifting landscape. Many relied heavily on the marketing strategies and expert advice of realtors to showcase their properties effectively and secure the best possible outcomes. From pricing homes accurately to promoting key features like pools or acreage, realtors provided the expertise needed to maximize property appeal. Sellers who partnered with professionals were better prepared to adjust to buyer demands and leverage concessions to close deals successfully.

Final Thoughts

Ultimately, the 2022 Celina, TX real estate market underscored that both buyers and sellers thrive when they are informed and prepared. Knowledgeable realtors played a vital role in providing the insights and strategies critical to navigating a dynamic market. For buyers, a pre-approved mortgage and the guidance of an experienced professional ensured smoother transactions and better outcomes. For sellers, the strategic advice and marketing acumen of realtors were essential elements for success. Whether buying or selling, a proactive approach and collaboration with a trusted real estate expert were the keys to achieving goals in an evolving 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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