Fall 2024 Forecast for Real Estate in Collin County
By Bruce Walpole, REALTOR®
Walpole Realty Group
Keller Williams Realty
Stabilized Home Prices
After a non-traditional summer with lots of variability, prices are steadying, but Frisco, Plano, and McKinney are still competitive. Buyers might find some relief with more homes on the market—higher inventory. This means that Buyers will have choice and sellers will need to be prepared to negotiate.
New Construction Boom
Suburbs like Celina and Melissa are seeing a surge in new builds. Master-planned communities with parks, schools, and retail are drawing families looking for space. Established cities like Plano, Allen and McKinney will need to compete with better schools, mature neighborhoods, better infrastructure, and shopping.
Rental Market Heating Up
With mortgage rates being perceived to be higher than normal, more people are renting. Build-to-rent homes are popping up in Prosper and McKinney, and investors are staying active in the resale market.
Luxury Market Strong
High-end homes in Plano, Frisco and McKinney are still in demand. This segment is typically less impacted by interest rates.
Infrastructure Boost
New highways and transit projects are making areas like Celina and Princeton more accessible, but completion is slow.
Conclusion
How do these things impact your plans? Feel free to reach out to Walpole Realty Group to discuss your specific situation, it’s not one size fits all.
