According to Steve Haid from the Collin County Association of Realtors, ” closed sales in September were 4.4 percent higher than September 2008 and 7.9 percent higher than September 2007, reports the Collin County Association of Realtors (CCAR). In addition, listings under contract were up 9.2 percent over the same month last year, and median sales price increased by 1.3 percent over September 2008.

The CCAR Pulse, which delves into the real estate markets of 36 local communities, also reports that for the first time in 2009, most monthly real estate market indicators were higher than the same month in 2008. For instance, the time on the market between listing a home and placing it under contract fell nearly 8 percent versus one year ago. In addition, homes listed in MLS sold for 94.2 percent of the original list price in September 2009 – up from September 2008 and 2007. All this adds up to terrific news for home sellers and home builders.

The number of available foreclosures also shrank dramatically compared to a year ago.

“There are currently 647 foreclosure listings available for sale in Collin County versus 1,535 at the same time in 2008,” says Steve Haid, CCAR member services director. “While we are quickly selling foreclosure listings, the number of new foreclosure listings is nearly 11 percent lower than a year ago. This is encouraging local economic news, as many parts of the country continue to see a rising number of foreclosures.”

Buyers are also benefitting from the current market. Mortgage interest rates continue to be at record lows, and the Home Affordability Index improved by nearly 11 percent over a year ago. The housing market continues to remain balanced; however, there is a shortage of available homes priced under $200,000 and an oversupply of homes priced above $300,000.

“Even though September is typically not one of the busiest months of the year for real estate sales, this September was the strongest we have seen in two years. It is too soon to be able to say the market has turned around, but this is definitely an exciting one-month improvement,” notes Haid.

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