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Moving to Texas, Collin County?

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Here are few things to consider if you are moving to Collin County: population is about 900,000 with an unemployment rate under 4%.

Question is to buy or to rent? 

The real estate market its very hot in Texas (not just from the weather!) with strong buyer demand and not enough available homes for sale. But, there are many homes available for rent all over Collin County.

For the past 2 years homes for sale  inventory have remained very low, while the available homes for rent seems to increase year over year.

I have compiled a list with the homes on the market, available for sale and the homes available for rent as of 10/19/2016 in the major cities within Collin County.

There are 2 trends that can be seen here: increased sale prices and values for single family homes and an increased number of homes for rent.

A number of hedge funds and investment companies have purchased in the recent years  homes for cash and turned around and rented those homes. I am aware about 3 different companies that have done it, and continue to buy more homes.

For Sale & For Rent Data

The hottest rental markets are McKinney, Frisco and Plano.

How to read the numbers: homes for sale are only the ones available for sale (not Pending); Listing price is median price. Days on the market are the average. Homes for rent are the ones available with the listed monthly rental.

Allen

For sale: 308 homes/List price -$395,000 /61 days
For Rent: 92 homes – $1,900/month – 34 days

McKinney

For Sale: 713 homes/List price – $395,000 /71 days
For Rent: 221 homes – $1,895/month

Frisco

For Sale: 776 homes/List price – $510,000/78 days
For Rent: 226 homes – $2,250/month – 35 days

Plano

For Sale: 540 homes/List price – $425,000/64 days
For Rent: 247 homes – $2,100/month – 43 days

Wylie

For Sale: 164 homes/List price – $303,500/48 days
For Rent: 35 homes – $1,695/month -27

Murphy

For Sale: 56 homes/List Price – $427,450/65 days
For Rent: 8 homes – $2,198/month – 27 days

For more information contact Nord Realty today

 

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