The 2019 real estate market in Celina, Texas experienced a dynamic year, characterized by rising sales volumes and longer average time on the market. New construction homes served as a key growth driver, while pricing trends demonstrated both resilience and steady value appreciation. This analysis provides a deeper look into property features, pricing patterns, and noteworthy outliers.
Key Takeaways and Trends from the 2019 Real Estate Market in Celina, TX
Pricing Range
Home prices ranged from $21,600 to $1,220,000, providing options for buyers across different budget categories. The median price of $365,000 reflected steady demand for mid-range homes.
Market Efficiency
An average ClsPr/LstPr ratio of 96.61% indicated overall market health and reasonable pricing expectations, although the slightly higher average DOM suggested a longer transaction process for some properties.
Unique Outliers
The most expensive property sold in 2019 exemplifies the allure of luxurious, custom-built estates designed for multi-generational living. However, the top sale price decreased compared to previous years, pointing to shifting dynamics in the luxury segment.
Mortgage Rate Impact
The average 30-year fixed mortgage rate dropped to 4.13% from 4.70% the previous year, providing buyers with more favorable financing options. This improvement likely boosted affordability and contributed to the increased sales volume seen in 2019.
Total Homes Closed
A total of 932 residential single-family homes were sold in Celina, TX during 2019, marking a significant increase from the previous year. Out of these, 648 were new construction homes, reflecting strong development momentum. Additionally, 47 homes included pools, providing insight into the demand for lifestyle-enhancing amenities.
Property Pricing Insights
- Minimum Price: $21,600
- Maximum Price: $1,220,000
- Average Price: $383,709
- Median Price: $365,000
Prices in 2019 reflected a broad range, catering to both entry-level families and affluent buyers. The balance between average and median values indicated that mid-range homes continued to dominate the market.
Property Size and Features
- Average Beds: 4
- Average Baths: 3
- Average Square Footage: 2,824 sqft
- Average Lot Size: 0.321 acres
Most homes offered spacious layouts ideal for families. The variation in lot sizes highlights a mix of urban and suburban properties catering to diverse buyer preferences.
Market Dynamics
- Days on Market (DOM): 101 days on average, with a median of 80 days.
- Average ClsPr/LstPr Ratio: 96.61%, indicating pricing alignment to buyer expectations.
- Average ClsPr/OLP Ratio: 93.43%, reflecting some price adjustments over original listing prices to close deals.
- Average Price per Square Foot: $137.24, showing a slight increase from the prior year, indicating steady property appreciation.
Insights into the Most Expensive Celina, TX Property Sold in 2019
The most expensive home sold in 2019 was a stunning custom-built estate with luxury amenities. Below are the highlights:
- Price: $1,220,000
- Beds/Baths: 7 beds, 6 baths
- Square Footage: 5,513 sq. ft.
- Price Per Square Foot: $221.30
- Lot Size: 3.1 acres
- Days on Market (DOM): 76
- ClsPr/LstPr Ratio: 98.47%
- ClsPr/OLP Ratio: 93.92%
- Year Built: 1996
This property catered to high-end buyers with features such as a guest house ideal for multi-generational living, a pool, outdoor living spaces, and a storm shelter. While its closing price fell below the prior year’s top sale, it exemplifies the continued allure of luxury homes in Celina. The slightly quicker sale period of this high-value property also signifies efficient transaction dynamics in this segment.
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.
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Overview of Differences Between the 2019 and 2018 Real Estate Markets in Celina, Texas
Total Homes Sold
2018: 772
2019: 932
Home sales increased by 20.7%, driven by stronger buyer interest and a significant rise in new construction activities.
Number of Homes with Pools
2018: 45
2019: 47
Pool home sales rose slightly by 4.4%, highlighting niche but persistent demand for properties with luxury features.
Number of New Construction Homes
2018: 507
2019: 648
New construction home sales surged by 27.8%, showcasing robust development across Celina to meet increasing demand.
Average Sales Price
2018: $401,964
2019: $383,709
The average sales price declined by 4.5%, reflecting a shift in market dynamics toward affordability or a broader range of entry-level options.
Average Days on Market (DOM)
2018: 89 days
2019: 101 days
Homes took 13.5% longer to sell on average, indicating a slightly slower market pace or more inventory to choose from.
Average Price Per Square Foot
2018: $135.30
2019: $137.24
The price per square foot saw a modest 1.4% increase, showing steady value growth despite the dip in average sales price.
Most Expensive Property Sold
2018: $2,000,000 (5,614 sq. ft., $356.25/sq. ft.)
2019: $1,220,000 (5,513 sq. ft., $221.30/sq. ft.)
The top-end property sale price dropped by 39%, indicating tempered activity in the luxury market segment, reflected in both the lower total price and price per square foot.
Summary of Real Estate Market Analysis for Celina, TX in 2019
The 2019 real estate market in Celina, TX exhibited significant growth in transaction volume, marked by a rise in closed sales and a strong influence of new construction homes. While pricing trends revealed slight adjustments, the market maintained healthy dynamics with a steady appreciation in price per square foot. This conclusion will explore perspectives for homebuyers, including first-time buyers, and home sellers, wrapping up with final reflections on the market’s future trajectory.
Homebuyers and First-Time Homebuyers Perspective
For homebuyers, 2019 provided numerous opportunities, such as a wide pricing range and an influx of new construction homes with modern features. The wide pricing range—from entry-level homes to luxury estates—offered options for various budgets. First-time homebuyers especially benefited from the availability of affordable new construction properties. However, the average sales price and rising price per square foot highlighted the need for financial readiness. Securing mortgage pre-approval was critical for buyers to strengthen their offers.
Home-Sellers Perspective
Home-sellers in Celina benefited from a growing market with increased buyer interest. Properties priced strategically and reflective of their value achieved solid ClsPr/LstPr ratios, underscoring the importance of accurate pricing. New construction sellers saw particular success in 2019, leveraging modern designs and amenities. However, with certain properties lingering longer on the market, sellers were reminded of the importance of marketing efforts, pricing flexibility, and property readiness to appeal to potential buyers.
Final Thoughts
The 2019 real estate market in Celina, TX demonstrated resilience and growth, driven by steady development and active participation from both buyers and sellers. For homebuyers and sellers alike, adapting to market conditions and leveraging strategic tools like mortgage pre-approval or accurate pricing proved critical to their success. Looking ahead, the strong performance metrics signal continued opportunities in Celina’s real estate scene for those who stay informed and prepared for the market’s shifts.
Why Historical Statistical Data Matters in the Celina, Texas Real Estate Market
Did you know that Appraisers and Realtors rely on historical statistical data to determine a property’s current value?
The information presented above is just a small glimpse into the wealth of essential data available to help both homebuyers and sellers set realistic expectations and gain an initial understanding of the real estate market in Celina, Texas. Real estate transactions are intricate, and what you see here is merely a sample of the many factors at play in each deal in this city.
Beyond these insights, a comprehensive analysis is available that focuses on specific aspects like zip codes, neighborhoods, and homes within certain school districts in Celina. This granular data dives deeper into market trends, allowing for a precise understanding of local dynamics. Additionally, historical data plays a critical role in crafting informed strategies, providing the context needed to make confident decisions that align with your goals.
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Whether you’re a homebuyer or a home seller, the information on this page highlights just a fraction of what’s important to know about the Celina, TX real estate market. Data like this is key to understanding trends, making informed decisions, and achieving your real estate goals.
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A Comprehensive Analysis of Single-Family Residential Housing Market in Celina, TX: 2010 to Present
Discover the trends, stats, and insights shaping Celina’s real estate market year by year!
2010-2020
Celina, TX Real Estate Market Report 2010: Analysis and Trends
Celina, TX Real Estate Market Report 2011: Analysis and Trends
Celina, TX Real Estate Market Report 2012: Analysis and Trends
Celina, TX Real Estate Market Report 2013: Analysis and Trends
Celina, TX Real Estate Market Report 2014: Analysis and Trends
Celina, TX Real Estate Market Report 2015: Analysis and Trends
Celina, TX Real Estate Market Report 2016: Analysis and Trends
Celina, TX Real Estate Market Report 2017: Analysis and Trends
Celina, TX Real Estate Market Report 2018: Analysis and Trends
Celina, TX Real Estate Market Report 2019: Analysis and Trends
Celina, TX Real Estate Market Report 2020: Analysis and Trends
This market analysis is intended solely for educational purposes. This market analysis is based on data sourced from NTREIS, Inc. This analysis is exclusively focused on single-family homes and does not account for other property types. The total number of real estate transactions within the specified period and location may vary. Data accuracy cannot be guaranteed due to potential input errors made by NTREIS users. This market analysis does not account for all new construction home sales. If you need detailed information about recorded property sales or other public records, please contact the appropriate city or county office.