Collin County land prices holding their own

"As prices have inflated, the real estate market ballooned up and now air is coming out of the bubble. Collin County did not blow up," said Betty Magee of Magee & Associates, Realtors. The median price of an existing, single-family home in California for November of 2006 was $555,290, a 1.4 percent increase over the revised $547,870 median for 2005 as reported by the California Association of Realtors. In New York the numbers are less severe. The November 2006 statewide median sales price of $250,000 represented a 5.7 percent decline from the November 2005 median of $265,000. The November 2006 median did increase by 3.5 percent compared to the October 2006 median of $234,000. As for Collin County, the median price for November 2006 was $193,700, $361,590 less than California. According to the Real Estate Center, single-family homes sales for December of 2006 in Collin County were at 6,333, a 5 percent decrease from the following year. The 5 percent decrease can be seen as a positive compared to November homes sales that were down 7 percent from the previous year. While home sales are down, the December average price per home was up 2 percent from the previous year, indicating that there is a slight appreciation. The Dallas Morning News reported a 5 percent decrease in housing sales last week.

[Inside Collin County Business]