Want to buy the 8,164-square-foot home at 6677 County Road 161 in McKinney, Texas? It’ll only set you back $2,999,900.
And that’s just one of seven homes in the city of McKinney on sale for more than $1 million, right now. According to the year-over-year trend they may not be on the market long, either.
Through the first half of 2013, the McKinney real estate market has improved in virtually every category possible.
The average sales price and number of units sold are up, while average days on the market and overall inventory of homes are down — signaling a positive trend in inventory turnover.
And although mortgage rates are up a little, they’re still historically low. Couple that with the obvious benefits of living in McKinney, and you have a housing market that’s attractive for consumers.
Basically, buyers are finding what they want, and sellers are getting over 96% of their asking price.
Imagine that; housing in such wonderful balance.
Given McKinney’s growing reputation as one of the best places to live in America, and now, a favorable home-buying market, I’d say things are looking up.
And that’s a good thing for everyone.