Celina Tx Real Estate Market - November 2023

Welcome to the November 2023 Celina Texas Real Estate Market Update. The data below is from October 2023 and is reported by NTREIS. 

As you can see, Celina has experienced a significant drop in the number of listings under contract, right at 24%. The time it takes to sell a home in Celina has doubled. This signifies how important it is to hire the right agent to price and market your Celina Tx home.

The good news is all the media reports screaming about a sell off are wrong. We have seen modest price adjustments due to over-pricing during COVID and the lack of inventory. The price reductions are averaging about 2.5% less than 2022's home prices.

We are definitely seeing a slow down in the Celina real estate market, but it is mainly due to a bad economy and much higher interest rates.

As we enter the next Presidential election cycle we should see lower interest rates and a strengthening of the market.

2022 2023 % Change
Closed Sales 231 202 -12.6
Median Sales Price $585,000 $568,750 -2.8
Average Sales Price $635,764 $619,827 -2.5
Ratio to Original List Price 102% 95.7% -6.2
Days On Market 26 52 100
New Listings 329 280 -14.9
Under Contract 25 19 -24.0
Active Listings 37 55 48.7
Months Of Inventory 1.7 3.4 99.4

*** We base our predictions on data from our local MLS for the previous month year to date sales.

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