A red-hot market for home-sellers in Collin County

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by JOBIN PANICKER

Bio | Email | Follow: @jobinpnews

WFAA

Posted on April 29, 2014 at 11:02 PM

FRISCO — There’s no place like your first home. Matt Wilson of Frisco has 14 years of memories in his first home, and now he's finally ready to move on... but it's happening a lot faster than he had expected.

"I listed it on Monday around 11 o'clock. Wednesday morning we had five qualified solid offers," he said.

It took all of three days, and he had had planned for 30. All the offers were above the asking price, and that’s very indicative of the way Collin County's housing market is right now.

Marvin Jolly of the Collin County Association of Realtors said this is a seller's market. He said there are so few homes in inventory that buyers are in a frenzy over bidding.

This is happening as news arrives that two automakers have decided to plant U.S. headquarters in Plano and McKinney — Toyota and Hisun Motors, respectively.

"This could be the beginning of many many big things to come over the next five to 10 years, and Collin County is only about 50 percent built out," Jolly said.

Collin County cities only have between 1.3 and 2 months of housing inventory available. That means, for example, in Frisco — where inventory is 1.5 months — if no more houses went on the market, every house would be bought up in 45 days.

"We’re all working together to help the buyer find the home he or she needs," said Meredith Held of Ebby Halliday Realtors.

E-mail jpanicker@wfaa.com

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