Is McKinney, TX a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing McKinney is a seller's market

Buyer's
Market

Difference Since February 2023

At the same time last year, McKinney was a Neutral Market.

Key Takeaway

McKinney is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in McKinney, TX

How much do homes in McKinney, TX cost?

Median Sold Price

$367,000

$246/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$53,000(-12.6%)

Key Takeaway

Homes in McKinney have sold for 12.6% less than they did a year ago.

Summary: The median home sold price in McKinney was $367,000 in February 2024, down 12.6% from last year, and the median price per square foot was $246.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $364.2K$330.3K
-9.3%
3 $420.5K$367.5K
-12.6%
4 $463.9K$378.6K
-18.4%
5+ -$446.8K
N/A

Summary: McKinney housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 9.3%, 3 bedroom homes decreased by 12.6%, 4 bedroom homes decreased by 18.4%, and 5+ bedroom homes did not change.

Housing Supply in McKinney, TX

How many homes are available in McKinney, TX?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
1216+33.3%

Summary: The McKinney real estate market had 16 homes for sale in February 2024, a 33.3% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 11
0.0%
3 711
+57.1%
4 44
0.0%
5+ 00
0.0%

Summary: The McKinney housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 57.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
13+200.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in McKinney, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in McKinney in February 2024, up by 200.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.

Days on Market for McKinney, TX

How long does it take to sell a home in McKinney, TX?

Average Sale Time

Feb 2023Feb 2024CHANGE
70 Days23 Days-67.4%

Summary: Homes in McKinney had an average of 23 days on market in Feb 2024, down by 67.4% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in McKinney has remained consistent over time.

Summary: During February 2024, 3 homes were sold in McKinney; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

Newest Listings in McKinney, TX

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