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The 2024 real estate market in Princeton, Texas showcased resilience and adaptability. With 1,497 single-family homes sold, new constructions played a notable role, accounting for two-thirds of the total sales. However, the market saw slightly lower average prices compared to previous years. Economic conditions, including a 6.90% average mortgage rate and modest decreases in gas and energy costs, influenced buyer and seller behaviors.

Total Homes Closed

A total of 1,497 homes were closed in 2024, marking a significant increase in activity.

New construction homes accounted for 989 sales, displaying robust growth in this category.

Homes with pools numbered at 12 properties, sustaining interest in leisure-friendly amenities.

Property Pricing Insights

The market saw a narrowing price range compared to 2023, with reduced maximum prices but consistent availability of budget-friendly options for buyers.

• Minimum Price: $95,000
• Maximum Price: $895,000
• Average Price: $336,350
• Median Price: $332,500

Property Size and Features

• Bedrooms ranged from 2 to 6, averaging 4 per home.
• Bathrooms ranged from 1 to 5, with an average of 2 bathrooms.
• Square Footage varied between 768 and 4,006 sqft, with an average of 1,922 sqft.
• Lot Sizes ranged from compact at 0.001 acres to 8.434 acres, averaging 0.181 acres, highlighting a preference for smaller properties.

Market Dynamics

• Days on Market (DOM) has risen to an average of 44 days, with a maximum of 439 days, highlighting a continued slowdown in transaction activity.
• Average ClsPr/LstPr Ratio was 97.84%, reflecting steady buyer-seller negotiations compared to 2023.
• Average ClsPr/OLP Ratio held firm at 96.15%, reinforcing stable listing strategies.
• Average Price Per SqFt was $178.85, a slight decrease from 2023, indicating affordability gains.

Economic context

Average Electricity Costs in Dallas-Fort Worth in 2024

Electricity prices rose again to $0.19 per kilowatt-hour in 2024, up from $0.17 in 2023. The steady rise in energy costs underscored the growing value of homes equipped with renewable energy solutions. Energy-conscious designs likely remained a key factor in real estate market trends.

Average Price for Regular Gasoline in Texas in 2024

Gas prices settled slightly lower at $2.86 per gallon in 2024, down from $3.06 in 2023. This decrease, while modest, might have encouraged more exploratory behavior from buyers considering homes in more distant locations. The reduced cost of transportation relieved some financial stress for commuting.

Average 30-Year Fixed Mortgage Rate in 2024

The average 30-year fixed mortgage rate fell marginally to 6.90% in 2024, down from 7.00% in 2023. While still elevated, this slight decline could provide homebuyers with additional opportunities to re-enter the market. Pre-approvals with a local mortgage loan originator remained critical in helping buyers react quickly to evolving financial conditions and maintain a competitive edge.

Curious about today’s mortgage rates and the home you can comfortably afford?

Submit a no-obligation mortgage application today and get pre-approved to determine your budget and take the first step toward homeownership with confidence.

Summary of Real Estate Market Analysis for Princeton, TX in 2024

The 2024 real estate market in Princeton, Texas presented a dynamic yet challenging environment, with significant shifts impacting both homebuyers and home-sellers.

Homebuyers’ Perspective

For homebuyers, the market leaned heavily in their favor. A disproportionate number of new construction homes—nearly two-thirds of total home sales—created plenty of options for those seeking modern, move-in-ready properties. Builders further sweetened the deal with extensive incentives, ranging from flexible financing to added upgrades, making new construction homes especially attractive. These factors, paired with marginally lower preowned home prices, opened opportunities for buyers to negotiate and achieve greater value. This abundance of inventory, combined with softer price points, pointed to a market where patience and research could lead to excellent deals.

Home-Sellers’ Perspective

Conversely, home-sellers, particularly those with preowned homes, faced mounting challenges. The overwhelming supply of affordable new construction homes—loaded with builder incentives—created stiff competition that preowned homes struggled to match. This dynamic exerted downward pressure on preowned home prices, making it crucial for sellers to adapt. Strategic pricing became essential, as overpricing reduced the likelihood of attracting buyers in a market that offered newer alternatives. Additionally, investing in home improvements, staging, and enhanced curb appeal grew more important for sellers aiming to compete effectively.

Overall, the 2024 market was shaped by significant disruptions brought on by the rise of new constructions and evolving buyer preferences. Homebuyers celebrated a wealth of attractive options, while home-sellers were encouraged to adapt their strategies to successfully capture interest in a highly competitive market.

The Importance of Statistical Data in Princeton, Texas Real Estate Market

Did you know that appraisers and Realtors rely on historical statistical data to determine a property’s current value?

Analyzing historical market data is essential for making informed decisions in today’s real estate market. Examining past trends provides valuable insights that facilitate accurate pricing, more strategic negotiations, and a comprehensive understanding of market dynamics. By understanding market dynamics, both homebuyers and home-sellers can leverage the conditions to achieve their goals.

It’s All About You and Your Real Estate Goals!

My mission is to serve you! With my knowledge and expertise, I’m here to help you achieve all your real estate goals!
I’m passionate about helping buyers and sellers navigate the exciting real estate landscape in Princeton, Texas! Whether you’re searching for your dream home, exploring land options, or looking for commercial properties, my Real Estate Services have you covered.

Contact me today for all your real estate needs in Princeton, Texas! Call/text 214-940-8149

A Comprehensive Analysis of Single-Family Residential Housing Market in Princeton, TX: 2010 to Present

Discover the trends, stats, and insights shaping Princeton’s real estate market year by year!

In 2023, the Princeton, Texas real estate market was defined by climbing mortgage rates, with the average rate for a 30-year fixed mortgage reaching 7% and elevated utility costs ($0.17 per kilowatt-hour electricity). These economic pressures tested affordability but spurred demand for energy-efficient and modern homes, particularly new construction properties. Despite financial hurdles, the market remained vibrant, with 961 homes sold and a broad price range catering to both entry-level and luxury buyers.

Total Homes Closed

A total of 961 homes were sold in 2023. Of these, 565 were new construction homes, signaling strong demand for modern, energy-efficient builds. Additionally, 10 homes featured pools, demonstrating consistent interest in lifestyle-enhancing properties.

Property Pricing Insights

• Minimum Price: $115,000
• Maximum Price: $1,550,000
• Average Price: $346,690
• Median Price: $334,690

While most homes sold within the mid-range, the presence of high-end properties pushed the upper limits of the market.

Property Size and Features

• Bedrooms: Ranged from 1 to 6; average was 4 bedrooms.
• Bathrooms: Ranged from 1 to 7; average was 2 bathrooms.
• Square Footage: Ranged from 480 sqft to 6,180 sqft; average was 1,901 sqft.
• Lot Size: Ranged from 0.001 acres to 14.34 acres; average lot size was 0.237 acres.

The market offered a wide variety of options, catering to small families and buyers seeking expansive estates.

Market Dynamics

• Days on Market: Ranged from 0 to 311 days, with an average of 35 days and a median of 19 days, indicating a moderately-paced market.
• ClsPr/LstPr Ratio: Averaged 98.18%, suggesting homes commonly sold slightly below the asking price.
• ClsPr/OLP Ratio: Averaged 96.37%, showing some price reductions during the sales process.
• Price per Square Foot: Averaged $186.88, reflecting the market’s overall value relative to property size.

The balance between buyer urgency and seller pricing strategies defined the market’s dynamics.

Economic context

Average Electricity Costs in Dallas-Fort Worth in 2023

Electricity prices dropped slightly to $0.17 per kilowatt-hour in 2023, compared to $0.18 in 2022. While this small decrease provided some relief, energy-efficient homes remained a top priority for homebuyers. Such features offered long-term cost savings that appealed to budget-conscious households.

Average Price for Regular Gasoline in Texas in 2023

Gas prices fell to $3.06 per gallon in 2023, down from $3.47 the previous year. This decline could have renewed interest in suburban properties by making commutes more affordable. homebuyers may have placed higher importance on access to amenities and infrastructure to balance the potential for rising future gas prices.

Average 30-Year Fixed Mortgage Rate in 2023

Mortgage rates increased to 7.00% in 2023, up sharply from 5.53% the prior year. This jump added significant pressure to affordability and homebuyers’ decision-making. Pre-approvals through local mortgage loan originators became essential in helping buyers secure competitive rates and stay within budget during challenging conditions.

Curious about today’s mortgage rates and the home you can comfortably afford?

Submit a no-obligation mortgage application today and get pre-approved to determine your budget and take the first step toward homeownership with confidence.

Summary of Real Estate Market Analysis for Princeton, TX in 2023

The 2023 real estate market in Princeton, TX reflected significant shifts, offering distinct opportunities and challenges for both homebuyers and home-sellers.

Homebuyers’ Perspective

For homebuyers, the year presented a mix of hurdles and prospects. The sharp rise in mortgage rates to 7.00% significantly impacted affordability, making cautious financial planning essential. However, a notable increase in new construction homes—565 in total—provided a range of modern options, often appealing with enhanced features and the allure of energy-efficiency. Additionally, a slight decrease in average home prices, with the median dropping to $334,690, offered some relief, especially to buyers navigating tighter budgets. The longer Days on Market (DOM), averaging 35 days, created room for negotiation, allowing buyers to approach purchases with more patience and confidence. This environment rewarded strategic offers and value-conscious decisions, especially in a market becoming less competitive.

Home-Sellers’ Perspective

For home-sellers, 2023 posed new challenges requiring a more thoughtful approach. Properties averaged longer DOM compared to the previous year, stretching from 21 to 35 days, an indication that buyers were more deliberate and thorough in their decision-making. Furthermore, the close-to-list price ratio declined to 98.18%, reflecting a slight softening in buyer enthusiasm compared to 2022’s high of 101.63%. Sellers had to lean on competitive pricing strategies, professional staging, and marketing to stand out in a calmer market. Yet, opportunities abounded for those selling newer or larger properties, as demand for spacious homes and contemporary features remained strong. Sellers who understood these trends and adapted quickly were better positioned to capture buyer interest and achieve favorable outcomes.

Both homebuyers and home-sellers navigated a transitioning market in 2023, balancing economic headwinds and emerging opportunities. The year demanded decisiveness but also clarity, making adaptability the key to success for all parties.

The Importance of Statistical Data in Princeton, Texas Real Estate Market

Did you know that appraisers and Realtors rely on historical statistical data to determine a property’s current value?

Analyzing historical market data is essential for making informed decisions in today’s real estate market. Examining past trends provides valuable insights that facilitate accurate pricing, more strategic negotiations, and a comprehensive understanding of market dynamics. By understanding market dynamics, both homebuyers and home-sellers can leverage the conditions to achieve their goals.

It’s All About You and Your Real Estate Goals!

My mission is to serve you! With my knowledge and expertise, I’m here to help you achieve all your real estate goals!
I’m passionate about helping buyers and sellers navigate the exciting real estate landscape in Princeton, Texas! Whether you’re searching for your dream home, exploring land options, or looking for commercial properties, my Real Estate Services have you covered.

Contact me today for all your real estate needs in Princeton, Texas! Call/text 214-940-8149

A Comprehensive Analysis of Single-Family Residential Housing Market in Princeton, TX: 2010 to Present

Discover the trends, stats, and insights shaping Princeton’s real estate market year by year!

The 2022 real estate market in Princeton, Texas experienced a pivotal shift, shaped by economic adjustments such as the rise in 30-year average mortgage rates to 5.53%. Despite the increased cost of financing, property values soared to record-breaking levels, with both average and median prices reaching all-time highs. New construction homes and properties featuring pools remained in high demand, reflecting continued growth and evolving lifestyle preferences in the area.

Total Homes Closed

A total of 690 single-family homes were sold in 2022, marking an overall decline from 849 the previous year.

New construction homes accounted for 249 properties, showing sustained demand for modern builds.

Homes with pools increased to 17 properties, indicating a growing appeal for leisure-oriented features.

Property Pricing Insights

• Minimum Price: $135,000
• Maximum Price: $1,600,000
• Average Price: $369,296 (up from $311,550 in 2021)
• Median Price: $351,996 (up from $300,000 in 2021)

Rising prices reflect stronger competition and evolving homebuyer priorities.

Property Size and Features

• Bedrooms: Ranged from 1 to 6, with an average of 4 bedrooms per home.
• Bathrooms: Ranged from 1 to 5, with most homes featuring 2 bathrooms on average.
• Square Footage: Homes ranged from 576 sqft to 5,348 sqft, with an average of 1,869 sqft—a slight decrease from 2021.
• Lot Size: Varied from 0 to 19,189 acres, with the median being 0.140 acres, showing smaller average lot sizes in general.

Market Dynamics

• Days on Market (DOM): Homes sold in an average of 21 days, a sharp improvement from 38 days in 2021, highlighting faster sales.
• ClsPr/LstPr Ratio: Averaged 101.63%, showing sustained demand with buyers paying slightly above listing prices.
• ClsPr/OLP Ratio: Spiked to 245.02%, driven by standout properties that performed exceptionally well.
• Average Price Per SqFt: $201.61, up significantly from $154.56 in 2021.

Economic context

Average Electricity Costs in Dallas-Fort Worth in 2022

Average electricity prices spiked to $0.18 per kilowatt-hour in 2022, a sharp increase from $0.14 in 2021. Higher energy expenses placed added strain on household budgets, driving demand for energy savings. Homes with modern insulation, solar installations, or energy-saving appliances gained significant appeal during this period.

Average Price for Regular Gasoline in Texas in 2022

Gas prices surged to $3.47 per gallon in 2022, jumping from $2.65 in 2021. The substantial increase in transportation costs likely swayed homebuyers to favor central locations or areas close to public transit. Long commutes to suburban or rural homes might have lost some appeal in light of elevated gas prices.

Average 30-Year Fixed Mortgage Rate in 2022

Mortgage rates climbed steeply to 5.53% in 2022, up from 3.15% the year before. The notable rise in rates significantly impacted affordability, persuading many to reassess their homeownership goals. Homebuyers were urged to secure pre-approval with a local mortgage loan originator to better understand their financial limits in a tightened market.

Curious about today’s mortgage rates and the home you can comfortably afford?

Submit a no-obligation mortgage application today and get pre-approved to determine your budget and take the first step toward homeownership with confidence.

Summary of Real Estate Market Analysis for Princeton, TX in 2022

The 2022 real estate market in Princeton, Texas presented unique challenges and opportunities for both homebuyers and home-sellers, shaped by shifting economic conditions and evolving buyer preferences.

Homebuyers’ Perspective

For homebuyers, rising mortgage rates—reaching an average of 5.53%—posed significant affordability challenges, especially for entry-level buyers. Higher average and median property prices further narrowed access to homes in lower price ranges. However, the market offered notable opportunities, particularly in the availability of new construction homes, with 249 properties catering to those seeking modern designs and updated features. The increase in homes with pools also provided buyers the chance to invest in lifestyle-focused properties. With the average Days on Market (DOM) dropping to just 21 days, the market became highly competitive, reinforcing the need for buyers to act decisively and prepare strategically to secure desired properties before they sell.

Home-Sellers’ Perspective

For home-sellers, the 2022 market dynamics created substantial advantages. Average property prices soared by 18.5%, while the median price increased by over $50,000 compared to 2021, positioning sellers to gain significant returns. The faster pace of sales—reflected in the reduced DOM—meant well-priced, move-in-ready homes were in high demand. Sellers needed to carefully balance competitive pricing with market conditions to meet buyer expectations and maximize offers. Features like pools and larger properties resonated strongly with buyers seeking additional value, giving sellers of such homes an edge in the market. Meanwhile, the slight decline in new construction home sales hinted at an opportunity for resale properties to fill the gap in supply.

Both homebuyers and home-sellers in 2022 navigated a dynamic, fast-moving market influenced by economic shifts and changing priorities. Sellers enjoyed the benefits of increasing property values and brisk sales, while buyers had to overcome financial barriers but still found value in new developments and lifestyle-focused investments. The year emphasized the importance of preparation, understanding market trends, and adapting to the fast-evolving real estate environment.

The Importance of Statistical Data in Princeton, Texas Real Estate Market

Did you know that appraisers and Realtors rely on historical statistical data to determine a property’s current value?

Analyzing historical market data is essential for making informed decisions in today’s real estate market. Examining past trends provides valuable insights that facilitate accurate pricing, more strategic negotiations, and a comprehensive understanding of market dynamics. By understanding market dynamics, both homebuyers and home-sellers can leverage the conditions to achieve their goals.

It’s All About You and Your Real Estate Goals!

My mission is to serve you! With my knowledge and expertise, I’m here to help you achieve all your real estate goals!
I’m passionate about helping buyers and sellers navigate the exciting real estate landscape in Princeton, Texas! Whether you’re searching for your dream home, exploring land options, or looking for commercial properties, my Real Estate Services have you covered.

Contact me today for all your real estate needs in Princeton, Texas! Call/text 214-940-8149

A Comprehensive Analysis of Single-Family Residential Housing Market in Princeton, TX: 2010 to Present

Discover the trends, stats, and insights shaping Princeton’s real estate market year by year!

The second year of the COVID-19 pandemic continued to shape the real estate market in Princeton, Texas. Work-from-home trends and lifestyle changes encouraged demand for spacious homes and properties with unique features. HomeBuyers benefited from historically low mortgage rates averaging 3.15%, further fueling market activity. With 849 homes sold, the market demonstrated resilience in the face of economic challenges.

Total Homes Closed

A total of 849 residential single-family homes closed in Princeton, TX in 2021.

New Construction Homes: 402, highlighting an active development year.

Homes with Pools: 12, reflecting steady interest in leisure-driven amenities.

Property Pricing Insights

• Minimum Price: $130,000
• Maximum Price: $1,025,000
• Average Price: $311,550
• Median Price: $300,000

This data reflects rising property values and a growing demand across pricing tiers, especially in the mid-to-luxury range.

Property Size and Features

• Bedrooms: Properties ranged from 1 to 6 bedrooms, with an average of 4.
• Bathrooms: Ranged from 1 to 5 baths, with an average of 2 full baths.
• Square Footage: Homes varied from 768 sqft to 4,543 sqft, with an average of 2,080 sqft.
• Lot Size: Lot areas ranged from 0.000 to 12.980 acres, averaging 0.308 acres per home.

The focus on larger homes and generous lot sizes illustrated buyer preferences for comfort and space.

Market Dynamics

• Days on Market (DOM): Properties averaged 38 days on the market, showing slightly quicker transactions than 2020.
• ClsPr/LstPr Ratio: 101.70%, indicating frequent sale prices above listing prices.
• ClsPr/OLP Ratio: 104.22%, showcasing competitive buyer demand compared to original listings.
• Average Price Per Square Foot: $154.56, reflecting a per-square-foot increase aligned with overall price growth.

Economic context

Average Electricity Costs in Dallas-Fort Worth in 2021

Electricity prices rose again to $0.14 per kilowatt-hour in 2021, up from $0.13 in 2020. This upward trend in energy costs likely pushed buyers to prioritize homes with efficient heating and cooling systems. Green-certified homes may have seen increased interest as buyers sought to offset higher utility bills.

Average Price for Regular Gasoline in Texas in 2021

Gas prices climbed to $2.65 per gallon in 2021, up from $1.82 in the prior year. This sharp increase put pressure on household budgets, especially for buyers with long commutes. Urban properties or homes in transit-accessible locations likely became more appealing as buyers aimed to minimize transportation expenses.

Average 30-Year Fixed Mortgage Rate in 2021

The average 30-year fixed mortgage rate dropped slightly to 3.15% in 2021, down from 3.38% in 2020. This decline further fueled homebuying demand, making mortgages more affordable despite rising home prices. Potential homebuyers were strongly advised to secure pre-approval through local mortgage loan originators to enhance their financial readiness during highly competitive conditions.

Curious about today’s mortgage rates and the home you can comfortably afford?

Submit a no-obligation mortgage application today and get pre-approved to determine your budget and take the first step toward homeownership with confidence.

Summary of Real Estate Market Analysis for Princeton, TX in 2021

The 2021 real estate market in Princeton, TX was marked by intense activity and opportunity, creating unique dynamics for both homebuyers and home-sellers.

Homebuyers’ Perspective

For homebuyers, historically low mortgage rates averaging 3.15% provided a rare opportunity to secure financing at affordable terms. However, increased property prices—especially with the average price rising to $311,550—created challenges for entry-level buyers. New construction homes, accounting for 402 of the sales, stood out as an attractive option for those seeking modern amenities and energy-efficient features. The competitive nature of the market, reflected in the jump in close-to-list price ratios above 101.70%, meant buyers needed to act quickly and decisively to secure their desired properties. For many, focusing on lifestyle priorities like additional space and comfort became more critical than ever.

Home-Sellers’ Perspective

For home-sellers, the 2021 market offered strong incentives, with higher property valuations driving increased profits. The rise in both average and median prices represented a lucrative environment to sell, while a slightly shorter 38-day average DOM indicated sustained buyer interest. Sellers who priced their properties competitively were more likely to attract offers above the listing price, as shown by the robust ClsPr/LstPr ratios. Larger homes with features like more bedrooms, larger lot sizes, or pools continued to command attention, and the growing demand for spacious, lifestyle-oriented properties presented an opportunity to maximize value. By tailoring listings to highlight these sought-after features, sellers could further capitalize on the prevailing market trends.

2021 showcased a market shaped by resilience and adaptability. Lower financing costs and evolving buyer priorities drove competitive demand, while sellers enjoyed the rewards of higher valuations for well-positioned properties. Both groups benefited from the dynamic synergy of accelerated development and shifting needs, solidifying Princeton’s market strength during another extraordinary year.

The Importance of Statistical Data in Princeton, Texas Real Estate Market

Did you know that appraisers and Realtors rely on historical statistical data to determine a property’s current value?

Analyzing historical market data is essential for making informed decisions in today’s real estate market. Examining past trends provides valuable insights that facilitate accurate pricing, more strategic negotiations, and a comprehensive understanding of market dynamics. By understanding market dynamics, both homebuyers and home-sellers can leverage the conditions to achieve their goals.

It’s All About You and Your Real Estate Goals!

My mission is to serve you! With my knowledge and expertise, I’m here to help you achieve all your real estate goals!
I’m passionate about helping buyers and sellers navigate the exciting real estate landscape in Princeton, Texas! Whether you’re searching for your dream home, exploring land options, or looking for commercial properties, my Real Estate Services have you covered.

Contact me today for all your real estate needs in Princeton, Texas! Call/text 214-940-8149

A Comprehensive Analysis of Single-Family Residential Housing Market in Princeton, TX: 2010 to Present

Discover the trends, stats, and insights shaping Princeton’s real estate market year by year!

The Princeton, Texas real estate market in 2019 displayed balanced growth and stability amid evolving buyer preferences and fluctuating economic conditions. This analysis identifies trends, highlights notable data, and examines key market dynamics, providing a comprehensive look at Princeton’s housing activity over the year.

Total Homes Closed

• Closed transactions: The market closed 514 homes, showing steady activity with only a minor decline from 2018’s 525.
• New construction homes: Sales reached 275 homes, increasing from 264 in 2018, underscoring strong development efforts.
• Homes with pools: Dip in sales to 7 homes from 10 properties in 2018, reflecting a downward trend in luxury pool homes.

Property Pricing Insights

The market displayed slight price adjustments compared to 2018:

• Minimum price: Fell significantly from $72,000 to $40,000, introducing more affordable options.
• Maximum price: Incrementally increased from $599,000 to $600,000, driven by a luxury property at the upper end.
• Average price: Rose marginally by 0.6%, from $233,494 to $234,809, maintaining steady pricing levels.
• Median price: Decreased slightly to $227,900, down from $228,900, signaling stabilization in the mid-market.

Property Size and Features

Princeton’s homes catered to varied preferences with consistent property features:

• Bedrooms: Average of 4 bedrooms, consistent with 2018.
• Bathrooms: Average of 2 bathrooms, unchanged from the prior year.
• Square footage: Average size declined modestly to 1,867 sqft, down from 1,897 sqft in 2018.
• Lot sizes: Averaged 0.304 acres, smaller than 2018’s 0.377 acres, reflecting more compact real estate options.

Market Dynamics

The market shifted slightly in terms of efficiency and value:

• Days on Market (DOM): Homes averaged 38 days, up from 30 days in 2018, indicating slower turnover.
• ClsPr/LstPr Ratio: Remained steady at 98.84%, a minor improvement from 98.79%.
• ClsPr/OLP Ratio: Rose to 99.13%, improving from 97.81%, showing better alignment of closing and original prices.
• Average price per sqft: Increased to $128.40, up from 2018’s $125.24, reflecting a 2.5% growth in property value per unit space.

Economic context

Average Electricity Costs in Dallas-Fort Worth in 2019

The average electricity price in 2019 climbed to $0.14 per kilowatt-hour, up from $0.13 in 2018. This uptick added some pressure on household budgets, further solidifying the need for energy-efficient homes. Properties featuring solar panels or smart home technologies likely gained value as homebuyers sought ways to mitigate rising energy expenses.

Average Price for Regular Gasoline in Texas in 2019

Gas prices fell slightly to $2.29 per gallon in 2019, down from $2.44 in 2018. This small decline brought modest relief to transportation costs and may have encouraged suburban home purchases, where commuting distances tend to be longer. Homebuyers likely balanced fuel costs with home prices when making location decisions.

Average 30-Year Fixed Mortgage Rate in 2019

Mortgage rates averaged 4.13% in 2019, down from 4.70% the year before. This noticeable decline made homeownership more attainable for many homebuyers and likely spurred activity in the housing market. Pre-approvals through local mortgage loan originators remained key for buyers wanting to confidently pursue homes amid favorable rate conditions.

Curious about today’s mortgage rates and the home you can comfortably afford?

Submit a no-obligation mortgage application today and get pre-approved to determine your budget and take the first step toward homeownership with confidence.

Summary of Real Estate Market Analysis for Princeton, TX in 2019

The 2019 real estate market in Princeton, Texas presented a balanced landscape with opportunities and challenges for both homebuyers and home-sellers.

Homebuyers’ Perspective

For homebuyers, 2019 was a year of increased affordability and opportunity. With the minimum home price dropping to $40,000, entry-level buyers found it easier to enter the market. The surge in new construction homes (275 properties) offered modern design and updated features, appealing to those seeking move-in-ready options. Additionally, lower mortgage rates (4.13%) boosted affordability by reducing monthly payments, making homeownership more attainable.

Buyers also had room to negotiate, particularly on properties with longer Days on Market (38 days) compared to the previous year. This added time allowed buyers to carefully evaluate options and secure favorable deals, especially on higher-priced or luxury homes.

Home-Sellers’ Perspective

Home-sellers faced increased competition and evolving buyer preferences, requiring strategic adjustments to ensure success. The slight rise in DOM meant it was crucial to price homes competitively from the start. Accurate and realistic pricing aligned with market expectations could lead to quicker closings and fewer adjustments throughout the sales process. However, the improved ClsPr/LstPr (98.84%) and ClsPr/OLP (99.13%) ratios showed that buyers were willing to meet listing prices for well-positioned properties.

New construction homes proved to dominate, reflecting continued demand for updated amenities and turnkey homes. Sellers of older properties might benefit from minor upgrades to match these buyer preferences. Additionally, while pool homes saw a decline in sales to just 7 properties, luxury homes—like the $600,000 standout sale—demonstrated demand for premium features such as larger living areas, pools, and expansive lots. Sellers in this segment should prepare for longer timelines but know that buyers are still willing to pay for the right property.

The Importance of Statistical Data in Princeton, Texas Real Estate Market

Did you know that appraisers and Realtors rely on historical statistical data to determine a property’s current value?

Analyzing historical market data is essential for making informed decisions in today’s real estate market. Examining past trends provides valuable insights that facilitate accurate pricing, more strategic negotiations, and a comprehensive understanding of market dynamics. By understanding market dynamics, both homebuyers and home-sellers can leverage the conditions to achieve their goals.

It’s All About You and Your Real Estate Goals!

My mission is to serve you! With my knowledge and expertise, I’m here to help you achieve all your real estate goals!
I’m passionate about helping buyers and sellers navigate the exciting real estate landscape in Princeton, Texas! Whether you’re searching for your dream home, exploring land options, or looking for commercial properties, my Real Estate Services have you covered.

Contact me today for all your real estate needs in Princeton, Texas! Call/text 214-940-8149

A Comprehensive Analysis of Single-Family Residential Housing Market in Princeton, TX: 2010 to Present

Discover the trends, stats, and insights shaping Princeton’s real estate market year by year!

The 2018 Princeton, Texas real estate market showcased rapid growth fueled by robust new construction activity, rising home prices, and increasing demand. This analysis uncovers key market patterns and trends, providing a detailed breakdown of sales data, property characteristics, and economic factors shaping the year.

Total Homes Closed

• Closed transactions: A total of 525 homes sold, reflecting strong activity and a 25.9% increase from 2017’s 417 sales.
• New construction homes: 264 homes, a remarkable rise from 187 in 2017, indicating a booming housing development sector.
• Homes with pools: Sales rose to 10 homes, up from 6 in the prior year, showing increased interest in luxury amenities.

Property Pricing Insights

The pricing metrics for 2018 denote steady growth across all segments:

• Minimum price: Increased from $62,000 to $72,000, suggesting higher minimum valuations per property.
• Maximum price: Rose from $540,000 to $599,000, driven by luxury sector demand.
• Average price: Climbed 8.5%, from $215,261 to $233,494, reflecting overall market appreciation.
• Median price: Jumped to $228,900, up 6% from $215,900, showcasing a healthier mid-market sector.

Property Size and Features

The Princeton, TX real estate market in 2018 served buyers with diverse needs, offering properties across a range of specifications:

• Bedrooms: An average of 4 bedrooms, consistent with 2017.
• Bathrooms: Typically 2 bathrooms, maintaining similar trends to the prior year.
• Square footage: Homes ranged from 840 sqft to 3,907 sqft, with 1,897 sqft as the average, up slightly from 1,882 sqft in 2017.
• Lot sizes: Averaged 0.377 acres, compared to 0.361 acres in 2017, reflecting slight growth in property space.

Market Dynamics

Efficiency remained a central theme with slight adjustments to specific metrics:

• Days on Market (DOM): Homes required an average of 30 days to sell, up from 23 days in 2017, signaling a longer turnover cycle.
• ClsPr/LstPr Ratio: Slight dip to 98.79%, showing slightly softer negotiations compared to 99.41% in 2017.
• ClsPr/OLP Ratio: Dropped to 97.81%, normalizing after the overbidding anomalies in 2017’s 134.60%.
• Average price per sqft: Grew to $125.24, up from $116.61, representing a 7.4% increase in property value per unit of space.

Economic context

Average Electricity Costs in Dallas-Fort Worth in 2018

Electricity prices increased to $0.13 per kilowatt-hour in 2018, compared to $0.12 in 2017. This climb likely drove demand for energy-efficient housing and renovations, placing greater emphasis on properties with modern upgrades that helped households manage increasing utility costs.

Average Price for Regular Gasoline in Texas in 2018

Gas prices also rose, reaching $2.44 per gallon in 2018, up from $2.19 in 2017. With transportation becoming more expensive, proximity to workplaces and public transportation remained important for homebuyers. Walkable neighborhoods and mixed-use developments gained traction during this period.

Average 30-Year Fixed Mortgage Rate in 2018

Mortgage rates climbed to 4.70% in 2018, from 4.14% in the previous year. For many homebuyers, this level of interest rate signaled urgency to act before rates increased further. Getting pre-approved by a local mortgage loan originator was pivotal for navigating the pressures of a market increasingly shaped by rising rates.

Curious about today’s mortgage rates and the home you can comfortably afford?

Submit a no-obligation mortgage application today and get pre-approved to determine your budget and take the first step toward homeownership with confidence.

Summary of Real Estate Market Analysis for Princeton, TX in 2018

Princeton’s real estate market in 2018 maintained its upward momentum, with strong gains in sales volume, pricing, and new construction. While affordability faced headwinds with higher interest rates, the market continued to grow through diversified inventory and demand across all buyer segments. The luxury market thrived with standout sales, like the $599,000 estate.

The Importance of Statistical Data in Princeton, Texas Real Estate Market

Did you know that appraisers and Realtors rely on historical statistical data to determine a property’s current value?

Analyzing historical market data is essential for making informed decisions in today’s real estate market. Examining past trends provides valuable insights that facilitate accurate pricing, more strategic negotiations, and a comprehensive understanding of market dynamics. By understanding market dynamics, both homebuyers and home-sellers can leverage the conditions to achieve their goals.

It’s All About You and Your Real Estate Goals!

My mission is to serve you! With my knowledge and expertise, I’m here to help you achieve all your real estate goals!
I’m passionate about helping buyers and sellers navigate the exciting real estate landscape in Princeton, Texas! Whether you’re searching for your dream home, exploring land options, or looking for commercial properties, my Real Estate Services have you covered.

Contact me today for all your real estate needs in Princeton, Texas! Call/text 214-940-8149

A Comprehensive Analysis of Single-Family Residential Housing Market in Princeton, TX: 2010 to Present

Discover the trends, stats, and insights shaping Princeton’s real estate market year by year!

The 2017 real estate market in Princeton, Texas showed strong growth, driven by rising home prices, faster sales, and heightened activity in new construction and premium properties. This analysis dives into sales trends, pricing, property features, and market dynamics in Princeton for a deeper understanding of the year’s real estate landscape.

Total Homes Closed

• Closed transactions: A total of 417 homes sold, a notable increase from 351 in 2016.
• New construction homes: 187 properties, indicating a booming construction sector and rising demand for new developments.
• Homes with pools: Only 6 homes sold with pools, a drop from 12 in 2016, signaling shifting preferences or availability.

Property Pricing Insights

The pricing metrics for 2017 reflect upward trends across the board:

• Minimum price: Dropped slightly to $62,000 from $65,000 in 2016, providing accessibility to budget homebuyers.
• Maximum price: Slightly decreased from $559,700 to $540,000, driven by a shift in luxury segment transactions.
• Average price: Rose 7.7% to $215,261, up from $199,966.
• Median price: Climbed to $215,900, representing an 11.3% increase from $194,000, emphasizing growth in the mid-market range.

Property Size and Features

The 2017 market offered a diverse range of home sizes catering to different buyer needs:

• Bedrooms: Typically 4 bedrooms, steady compared to 2016.
• Bathrooms: Averaged 2 bathrooms, but some homes included up to 5 bathrooms.
• Square footage: Ranged from 720 sqft to 3,799 sqft, maintaining the same average of 1,882 sqft as in 2016.
• Lot sizes: Averaged 0.361 acres, smaller compared to 0.470 acres in 2016, pointing to increasingly denser developments.

Market Dynamics

The overall efficiency of the market improved in 2017, helping sustain competitive conditions:

• Days on Market (DOM): Homes sold in an average of 23 days, slightly higher than the 20-day average in 2016, but still strong.
• ClsPr/LstPr Ratio: Improved marginally to 99.41%, up from 99.53%, sustaining tight seller-buyer negotiations.
• ClsPr/OLP Ratio: Surprisingly spiked to 134.60% from 98.90%, driven by anomalies in overbids and new construction premiums.
• Average price per sqft: Increased to $116.61, a significant 8.4% rise from $107.59 in 2016, showcasing higher property value per unit area.

Economic context

Average Electricity Costs in Dallas-Fort Worth in 2017

Electricity prices rose to $0.12 per kilowatt-hour in 2017, after a year at $0.11. This small uptick likely reignited interest in smaller homes or energy-efficient features. homebuyers remained cautious about properties with older energy systems, viewing them as less desirable long-term investments.

Average Price for Regular Gasoline in Texas in 2017

Gas prices increased to $2.19 per gallon in 2017, up from $1.91 in 2016. While still relatively affordable, the rise may have led homebuyers to reconsider the financial trade-offs of suburban living. Proximity to public transportation hubs became a more significant factor during housing searches.

Average 30-Year Fixed Mortgage Rate in 2017

Mortgage rates rose to 4.14% in 2017, up from 3.79% the year prior. The return of higher rates reminded homebuyers of the importance of locking in favorable financing terms early. Pre-approval through local mortgage loan originators remained vital to navigating the shifting landscape effectively and with confidence.

Curious about today’s mortgage rates and the home you can comfortably afford?

Submit a no-obligation mortgage application today and get pre-approved to determine your budget and take the first step toward homeownership with confidence.

Summary of Real Estate Market Analysis for Princeton, TX in 2017

The 2017 real estate market in Princeton, Texas reinforced its upward trajectory, boasting increased sales, higher prices, and steady demand for new construction homes. Despite higher costs tied to loans and utilities, the market achieved sustained growth, driven by responsive developments and competitive buyer activity. Looking ahead, the market’s upward trend reflects a healthy balance of affordability and aspirational inventory, setting the tone for continued performance in 2018.

The Importance of Statistical Data in Princeton, Texas Real Estate Market

Did you know that appraisers and Realtors rely on historical statistical data to determine a property’s current value?

Analyzing historical market data is essential for making informed decisions in today’s real estate market. Examining past trends provides valuable insights that facilitate accurate pricing, more strategic negotiations, and a comprehensive understanding of market dynamics. By understanding market dynamics, both homebuyers and home-sellers can leverage the conditions to achieve their goals.

It’s All About You and Your Real Estate Goals!

My mission is to serve you! With my knowledge and expertise, I’m here to help you achieve all your real estate goals!
I’m passionate about helping buyers and sellers navigate the exciting real estate landscape in Princeton, Texas! Whether you’re searching for your dream home, exploring land options, or looking for commercial properties, my Real Estate Services have you covered.

Contact me today for all your real estate needs in Princeton, Texas! Call/text 214-940-8149

A Comprehensive Analysis of Single-Family Residential Housing Market in Princeton, TX: 2010 to Present

Discover the trends, stats, and insights shaping Princeton’s real estate market year by year!

The 2016 real estate market in Princeton, Texas demonstrated remarkable growth in sales volume and efficiency, fueled by favorable economic conditions and robust buyer demand. This analysis summarizes closed transactions, pricing trends, property features, and market dynamics, offering key insights into the evolving landscape.

Total Homes Closed

• Closed transactions: 351 homes sold, a substantial 67.9% increase from 2015, reflecting an overwhelmingly active market.
• New construction homes: 136 homes sold, a sharp rise from 15 the previous year, showcasing a boom in development activity.
• Homes with pools: 12 homes sold, up from 9 in 2015, highlighting steady demand for luxury features.

Property Pricing Insights

The following price metrics reflect growing market value and diversity:

• Minimum price: Increased from $38,000 in 2015 to $65,000, signaling improvements in the entry-level segment.
• Maximum price: Jumped from $407,500 in 2015 to $559,700, reflecting expanding high-end market activity.
• Average price: Rose to $199,966, up by 19.2% from $167,775 in 2015.
• Median price: Increased to $194,000, marking a 19.0% growth from $163,000 in 2015.

Property Size and Features

HomeBuyers had access to a range of home sizes and configurations in 2016.

• Bedrooms: Averaged 4 bedrooms, up from 3 in the previous year.
• Bathrooms: Increased to an average of 2 bathrooms, with homes offering up to 5 bathrooms.
• Square footage: Properties ranged from 768 sqft to 4,849 sqft, with an average of 1,882 sqft, slightly larger than the previous year.
• Lot sizes: Averaged a reduced 0.470 acres, down from 0.682 in 2015, reflecting denser development in new construction.

Market Dynamics

The market showcased impressive gains in efficiency and property value retention.

• Days on Market (DOM): Faster closings, averaging 20 days, down from 36 in 2015.
• ClsPr/LstPr Ratio: Improved to 99.53%, up slightly from 98.72%, reflecting continued tight pricing alignments.
• ClsPr/OLP Ratio: Dropped to 98.90%, indicating a decrease in over-list bids compared to the previous year’s 144.99%.
• Average price per sqft: Climbed to $107.59, representing a strong 17.4% increase from $91.65 in 2015.

Economic context

Average Electricity Costs in Dallas-Fort Worth in 2016

Electricity prices continued to decrease, settling at $0.11 per kilowatt-hour in 2016, down from $0.12 in 2015. This steady decline further incentivized interest in larger homes, which naturally consume more power. The trend also nudged developers to prioritize energy efficiency in new housing projects.

Average Price for Regular Gasoline in Texas in 2016

Gas prices dropped further to $1.91 per gallon in 2016, down from $2.17 in 2015. This decline reduced commuter expenses, inspiring homebuyers to explore housing options further from city centers. Properties in areas with good road infrastructure likely became more desirable, as homebuyers factored in affordable fuel costs.

Average 30-Year Fixed Mortgage Rate in 2016

Mortgage rates fell slightly again, settling at 3.79% in 2016, compared to 3.99% the prior year. This favorable environment for financing encouraged many homebuyers to jump into the market. Getting pre-approved with a local mortgage loan originator ensured buyers could seize opportunities quickly and position themselves in a competitive market.

Curious about today’s mortgage rates and the home you can comfortably afford?

Submit a no-obligation mortgage application today and get pre-approved to determine your budget and take the first step toward homeownership with confidence.

Summary of Real Estate Market Analysis for Princeton, TX in 2016

The 2016 real estate market in Princeton, TX stands as a breaking historical point, marking the city’s transition into a period of dramatic and sustained growth. This year set a new precedent with 351 homes sold—a staggering 67.9% increase in sales volume compared to 2015. The surge in new construction homes, with 136 properties built, demonstrated a revitalized commitment to development and urban expansion. Rising property values, highlighted by an 19.2% increase in average price and higher demand for luxury homes, further underscored the market’s maturity and appeal.

Economic factors played a vital role in shaping these milestones. Lower mortgage rates, dropping to an average of 3.79%, provided buyers with easier financing options, while reduced gas and utility costs enhanced overall affordability for homeowners. This convergence of growth indicators positioned Princeton as a prime market, attracting both investors and families looking for long-term opportunities.

The market’s heightened momentum, particularly in faster Days on Market (DOM), robust close-price ratios, and increased buyer confidence, reflects the beginning of a dynamic era for the city. Princeton’s transformation in 2016 marked not only a breakthrough in real estate but also a catalyst for broader economic growth and urban betterment.

Looking ahead, the city’s strategic expansions, coupled with marked affordability and increased residential appeal, promise a flourishing future. Princeton, Texas has firmly cemented its position as an emerging hub in the region, poised for sustained real estate success and vibrant community development in the years to come.

The Importance of Statistical Data in Princeton, Texas Real Estate Market

Did you know that appraisers and Realtors rely on historical statistical data to determine a property’s current value?

Analyzing historical market data is essential for making informed decisions in today’s real estate market. Examining past trends provides valuable insights that facilitate accurate pricing, more strategic negotiations, and a comprehensive understanding of market dynamics. By understanding market dynamics, both homebuyers and home-sellers can leverage the conditions to achieve their goals.

It’s All About You and Your Real Estate Goals!

My mission is to serve you! With my knowledge and expertise, I’m here to help you achieve all your real estate goals!
I’m passionate about helping buyers and sellers navigate the exciting real estate landscape in Princeton, Texas! Whether you’re searching for your dream home, exploring land options, or looking for commercial properties, my Real Estate Services have you covered.

Contact me today for all your real estate needs in Princeton, Texas! Call/text 214-940-8149

A Comprehensive Analysis of Single-Family Residential Housing Market in Princeton, TX: 2010 to Present

Discover the trends, stats, and insights shaping Princeton’s real estate market year by year!