Collin County, Texas (PRWEB) October 10, 2013
If investors learned anything from the recent recession, it’s that the U.S. economy and real estate market are inextricably tied. That’s why it only makes sense that an area providing some of the nation’s most attractive and lucrative employment opportunities would continue to see real estate values grow. And such is the case in Collin County, Texas. The 886-square-mile area located just northeast of Dallas and Fort Worth (and actually including a bit of Dallas proper) has seen home values grow in major cities like Plano, McKinney and Frisco even after home values began dipping nationally after the hot first half of 2013. But it’s not just the scenic desirability of this area and proximity to the DFW metro area that provide incentive for home buyers; Collin County was recently ranked as one of the best places to conduct business in the entire country, giving the area’s real estate market some added luster.
This information comes in the form of a September 29th report from reputed business news website Nerdwallet.com, which ranked [Collin County in its Top 10 “Best Counties to Work In” nationwide. The website used a wide array of data and specifically looked at employment rates, median incomes, population growth and commute-to-work times to come up with its findings. Contributing factors for this designation being bestowed on Collin County included a low 5.8 unemployment rate as of July 2013, an average commute time of 27 minutes, a median individual income of more than $56,000 for full-time workers and rapid expansion in business growth, construction and population growth.
Click here for a McKinney home market update.
Additionally, of the 20 counties that made the “Best Counties” list, Collin County was the only Texas county to rank, making it even more attractive for those looking to find both housing and employment in the DFW area.
“Between the relocation of the Dallas Cowboys headquarters to Frisco, the vast education and health care service sector operating throughout the area and the continuing economic investment in the community by the Collin College Workforce and Economic Development department, Collin County homeowners have all the means at their fingertips to couple strong professional careers with exceptional living standards,” says DD Flynn, VP of Marketing with Prudential Texas Properties
And as for the aforementioned rising home values in Collin County, a series of September 30th real estate analytics reports by California-based data tracker Altos Research shows just how well Collin County is prospering. McKinney has seen its median list price for homes grow by about $20,000 since July to its current level of $299,000 on average. And home inventory is nearing six-month lows. Frisco homes are also continuing to thrive, with the last few weeks on record showing median list prices climbing to $417,900 for the seven-day average, and an all-time market high of about $415,000 for the more-weighted 90-day average. Inventory here is also nearing its lowest level since April. Finally, Plano home values are also on the rise after taking a hit in mid-June. The current Plano home median list price of $325,000 is within about $5,000 of the market’s all-time high. And like in McKinney and Frisco, inventory levels are dropping.
“Collin County homes are being scooped up, prices are staying strong or rising, and local business prosperity stands as a beacon of light for the greater national economy,” adds Flynn. “This is a fantastic sign for the North Texas real estate market as a whole, and a pattern that is bound to draw continued financial growth to the area across a multitude of professional sectors.”
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