Here is where the North Dallas market actually stands heading into August, minus the spin.
Start with rates, because that is what moves buyers. The 30-year fixed was averaging about 6.6% at the end of July, according to Freddie Mac. That is roughly flat compared to a year ago. Rates have been chopping around in the mid-6s for a while now, and most buyers have stopped waiting for a magic number that keeps not showing up. They are buying when the house and the payment make sense.
Now the numbers by city, because North Dallas is not one market. It is five or six different ones.
Frisco is holding up well. The median sits around $690,000, basically flat year over year, but the number of homes for sale is up close to 9 percent. More inventory and steady prices means buyers have more room than they did two years ago, while sellers who price correctly are still moving. Homes are going in the high 20s on days on market for the ones priced right.
Plano is the steadiest of the bunch. Median around $535,000, down just slightly from last year. The reason it is holding is simple: inventory is still running below where it was a year ago. Less supply keeps prices firm.
McKinney has softened a little. The median over the last three months is around $505,000, down a few percent, and homes are sitting a touch longer than they did last year. Nothing dramatic, but sellers there need to be sharper on price.
Prosper and Celina are the ones to watch. Both are getting reset by new construction. Prosper's median is near $790,000, down double digits from its peak. Celina is running in the high $400,000s to low $500,000s, with new listings and new-home sales up big. When builders flood a submarket with incentives, resale sellers have to compete or wait.
So what do you do with all this?
If you are buying, this is the most breathing room you have had in years. More choices, less bidding-war pressure, and real negotiating leverage on anything that has been on the market past 30 days. If you are open to new construction in Prosper or Celina, use those builder incentives as a chip against resale homes.
If you are selling, the message is short. Price it right the first week. The homes that get chased are the ones that come out priced correctly with strong photography and clean presentation. The ones that sit are almost always overpriced out of the gate, and chasing the market down costs you more than pricing right up front ever would. And if you are in the far north, remember you are competing with brand-new builder inventory, so your prep has to be that much better.
Bottom line: this is a balanced market, not a crash. Prices are flat to slightly down depending on the city, inventory is up in most areas, and rates are steady. Buyers have leverage they did not have before, and sellers who do it right still win.
Thinking about buying or selling in North Dallas? Call or text Ronnie at 214-709-2073 or email ronnie@exclusivedfw.com. Straight answers, no sales pitch.
Market data in this post is pulled from publicly available sources including Redfin, Realtor.com, Zillow, and mortgage rate trackers. Numbers are directional and not official MLS figures. For exact numbers on your specific home or neighborhood, contact Ronnie for a custom report.
