Taking a Look at the Luxury Market for Denton & Collin Counties
Are you in the market for a million dollar home? Are you interested in what the top of the real estate market is doing in Denton & Collin Counties?
We have been seeing home price appreciation in both Denton County and Collin County markets within the past 2 years. Here is a look at the Luxury Market where we have looked at all sales of homes of $1 Million or more. The data we have looked at is reported sales in the NTREIS MLS database.
When we look at the median sale price for sales above $1 million, looking at a 12 month data point, both Collin and Denton Counties median sale price range from $1,246,986 to $1,300,000.
Here is a look at the same data of median sale price for sales over $1 Million for the past 10 years. You can see that the median sale price peaked in 2008-2009 around $1,400,000 but has stayed around $1,300,000 with one large drop in 2013 for Collin County.
As you can see from the graph above, the months of supply has decreased consistently with Denton County sales, however Collin County has seen an increase in inventory for the first part of this year.
This chart shows the number of sales that were listed at$1 million or more. There has been an increased in the number of listings so far in 2016. It will be interesting to see what the number will be by the end of 2016.
The price per square foot decreased for both Collin and Denton counties for 2015, however, they have both increased so far in 2016. Median Sale Price Per Square Foot ranges from $186 to $232.