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Old 05-04-2023, 06:34 PM
 
565 posts, read 559,422 times
Reputation: 979

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Quote:
Originally Posted by serger View Post
So, if accurate, Celina is higher than Plano and Richardson.. Madness.
It's because Celina doesn't have the bottom end like Richardson does. Richardson has a handful of neighborhoods with really small 1950s era houses that realistically can't sell for over $400k given the size and a lot less if in poor condition. That drastically brings down the average down (those neighborhoods bring the average sale price down probably $150k and the price per square foot average down at least $30-40 per square foot).

Not only that there's tons of tear down activity in the non 1950s era neighborhoods (bigger lots and better schools) so that also contributes to it bringing down the average price. Those 1950s era neighborhoods aren't having the million-dollar newbuilds that you find in the surrounding 1960s era neighborhoods.
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Old 05-04-2023, 09:54 PM
 
1,383 posts, read 1,089,834 times
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It was interesting how Addison managed to rack up such high prices. It's mostly condos and townhomes with a few zero lot line homes, and most of those are 1980s and 90s. I don't know if they have good schools, but it has something Plano and Richardson do not.

It will be interesting to see what happens when the housing stock in places like Celina and Melissa begins to age. I don't think it's going to follow the path of Addison.

I don't think new construction is doing much for Little Elm. One would think people would be going bonkers to be so close to all of the most expensive amenities in Frisco at a fraction of the cost.
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Old 05-05-2023, 08:24 AM
 
5,265 posts, read 6,410,278 times
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Quote:
Addison.... it has something Plano and Richardson do not.

Addison is 5 sq miles, ie: it's really small. Richardson is 5X larger and Plano is like 20X larger in area.
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Old 05-05-2023, 09:55 AM
 
8,154 posts, read 3,682,802 times
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Quote:
Originally Posted by Leonard123 View Post
Why is it surprising? Celina is mostly new construction, and a lot of those new houses are McMansions. The price gap between new areas and old areas has been growing exponentially the past few years.

While the numbers aren't on there, even Melissa surpasses Plano and Richardson according to Redfin and Realtor. It's even more popular than McKinney. People are following their noses to Mount Melissa.
I'm just surprised that so many people want to live in McMansions in ... Celina
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Old 05-05-2023, 10:25 AM
 
Location: Dallas
674 posts, read 335,803 times
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Quote:
Originally Posted by serger View Post
I'm just surprised that so many people want to live in McMansions in ... Celina
Same, it baffles me.
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Old 05-05-2023, 12:09 PM
 
5,265 posts, read 6,410,278 times
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Quote:
I'm just surprised that so many people want to live in McMansions in ... Celina

I personally know 3 families that lived in north Dallas/Richardson/Plano who moved up there because they wanted more space and a newer house. They weren't city people. 2-3 families still come back for things like shopping, hair cuts, etc, so I'll randomly see them at the grocery store.
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Old 05-05-2023, 04:20 PM
 
5,842 posts, read 4,181,212 times
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Quote:
Originally Posted by serger View Post
I'm just surprised that so many people want to live in McMansions in ... Celina
I'm just surprised that so many people want to live in McMansions.
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Old 05-05-2023, 07:31 PM
 
772 posts, read 937,052 times
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Quote:
Originally Posted by Wittgenstein's Ghost View Post
I'm just surprised that so many people want to live in McMansions.
Why?


Recent events with the Covid pandemic did a lot to boost the popularity of a large home in a safe subdivision. We know a lot of people who had smaller homes in California and New York/New Jersey who sold out and moved to TX, AZ, or FL to get a larger home that offered them multiple living options they didn't have before, like media rooms, man caves, pools and outdoor living areas, etc. They were going stir crazy being cooped up with family in small homes and condos.


Like it or not, the McMansion is the epitome of the American Dream for most people.
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Old 05-05-2023, 08:02 PM
 
1,383 posts, read 1,089,834 times
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Quote:
Originally Posted by TheOverdog View Post
I personally know 3 families that lived in north Dallas/Richardson/Plano who moved up there because they wanted more space and a newer house. They weren't city people. 2-3 families still come back for things like shopping, hair cuts, etc, so I'll randomly see them at the grocery store.
The demand for new housing is outpacing the demand for convenient locations. The price gap is at the point where getting a decorator and contractor to do a full gut and remodel would be far less expensive than building new.

I suppose some people think that the tollway is a big draw and will make Celina like its southern neighbors with all the amenities and attractions of Frisco and west Plano alongside the country feel of east Prosper. Others think Celina is a peaceful, rural getaway. I think both will be disappointed.

I thought Celina was bad, but Highland Homes at the Painted Tree neighborhood in McKinney has raised their prices $80K across the board since December and sold well over 100 lots and possibly over 150. These are 40 and 50 foot wide lots from 1600 square feet, not McMansions. I can't figure out what the draw is other than being new, and neither can anyone else I talk to.

I'm surprised Little Elm hasn't been at least as big a hit as Melissa. Buyers seem to turn up their noses at Little Elm. In Melissa, they'll be pinching them.


Quote:
Originally Posted by Wittgenstein's Ghost View Post
I'm just surprised that so many people want to live in McMansions.
They seem to be a particularly big draw to Indians. However, so does new housing in general. Perhaps it's a cultural trend.

Last edited by Leonard123; 05-05-2023 at 08:20 PM..
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Old 05-05-2023, 08:56 PM
 
252 posts, read 208,356 times
Reputation: 353
Quote:
Originally Posted by DFW_FTW View Post
Current mortgage and refinance rates
Accurate as of 05/03/2023.

Product Interest rate
30-year fixed-rate 6.385%
20-year fixed-rate 6.133%
15-year fixed-rate 5.313%
10-year fixed-rate 5.562%
7-year ARM 6.317%
5-year ARM 6.041%
3-year ARM 6.125%
30-year fixed-rate FHA 5.982%
30-year fixed-rate VA 5.459%


Addison, TX Housing Market
The median listing home price in Addison, TX was $564.9K in March 2023, trending up 25.8% year-over-year. The median listing home price per square foot was $260.

Plano, TX Housing Market
The median listing home price in Plano, TX was $527K in March 2023, trending up 10.9% year-over-year. The median listing home price per square foot was $221.

Frisco, TX Housing Market
The median listing home price in Frisco, TX was $699.9K in March 2023, trending up 26.1% year-over-year. The median listing home price per square foot was $247.

Celina, TX Housing Market
The median listing home price in Celina, TX was $652.1K in March 2023, trending up 24.3% year-over-year. The median listing home price per square foot was $232.

Euless, TX Housing Market
The median listing home price in Euless, TX was $375K in March 2023, trending up 8.7% year-over-year. The median listing home price per square foot was $212.

Grapevine, TX Housing Market
The median listing home price in Grapevine, TX was $564.5K in March 2023, trending up 18.8% year-over-year. The median listing home price per square foot was $247.

Richardson, TX Housing Market
The median listing home price in Richardson, TX was $459K in March 2023, trending up 15% year-over-year. The median listing home price per square foot was $219.

Garland, TX Housing Market
The median listing home price in Garland, TX was $325K in March 2023, trending up 10.2% year-over-year. The median listing home price per square foot was $187.
Current mortgage and refinance rates
Accurate as of 05/05/2023.

Product Interest rate
30-year fixed-rate 6.415%
20-year fixed-rate 6.149%
15-year fixed-rate 5.304%
10-year fixed-rate 5.750%
7-year ARM 6.384%
5-year ARM 6.047%
3-year ARM 6.125%
30-year fixed-rate FHA
30-year fixed-rate VA 5.448%


Highland Park, TX Housing Market
In April 2023, the median listing home price in Highland Park, TX was $3.4M, trending up 2.7% year-over-year. The median listing home price per square foot was $808.


University Park, TX Housing Market
In April 2023, the median listing home price in University Park, TX was $2.5M, trending up 48.5% year-over-year. The median listing home price per square foot was $566.


Lucas, TX Housing Market
In April 2023, the median listing home price in Lucas, TX was $1.1M, trending up 32.5% year-over-year. The median listing home price per square foot was $300.


Melissa, TX Housing Market
In April 2023, the median listing home price in Melissa, TX was $515K, trending up 5.6% year-over-year. The median listing home price per square foot was $204.


Southlake, TX Housing Market
In April 2023, the median listing home price in Southlake, TX was $1.5M, trending up 38.1% year-over-year. The median listing home price per square foot was $349.

Bedford, TX Housing Market
In April 2023, the median listing home price in Bedford, TX was $365K, trending up 8.1% year-over-year. The median listing home price per square foot was $206.


Colleyville, TX Housing Market
In April 2023, the median listing home price in Colleyville, TX was $900K, trending up 15.5% year-over-year. The median listing home price per square foot was $266.


Prosper, TX Housing Market
In April 2023, the median listing home price in Prosper, TX was $848.7K, trending up 37.7% year-over-year. The median listing home price per square foot was $259.


Mesquite, Dallas County, TX Housing Market
In April 2023, the median listing home price in Mesquite, Dallas County, TX was $308.5K, trending up 7.9% year-over-year. The median listing home price per square foot was $179.


Sachse, TX Housing Market
In April 2023, the median listing home price in Sachse, TX was $482.4K, trending up 13.5% year-over-year. The median listing home price per square foot was $203.


Carrollton, TX Housing Market
In April 2023, the median listing home price in Carrollton, TX was $448.9K, trending up 12.3% year-over-year. The median listing home price per square foot was $217.


The Colony, TX Housing Market
In April 2023, the median listing home price in The Colony, TX was $500K, trending up 11.1% year-over-year. The median listing home price per square foot was $233.


Little Elm, TX Housing Market
In April 2023, the median listing home price in Little Elm, TX was $479K, trending up 19.8% year-over-year. The median listing home price per square foot was $203.


Lewisville, TX Housing Market
In April 2023, the median listing home price in Lewisville, TX was $440K, trending up 8.1% year-over-year. The median listing home price per square foot was $223.


Farmers Branch, TX Housing Market
In April 2023, the median listing home price in Farmers Branch, TX was $480.8K, trending up 20.5% year-over-year. The median listing home price per square foot was $240.
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