McKinney home values climb as others cool

McKINNEY – The north Dallas suburb of McKinney has seen its home values hit one the highest peaks in the city’s history in recent weeks. This signals a very bright future for an area that has seen some of the most robust population growth in the nation over the past decade.

McKinney’s median home list price has risen to $300,000, according to Altos Research. It’s also up about $10,000 from the beginning of 2013.

The inventory of McKinney properties for sale has been dropping, with 670 homes for sale representing the lowest the area has seen since May. Additionally, the area’s market action index (MAI) is trending up at 44.19.

Any number over 30 for a MAI indicates higher demand than supply, and at its current level, McKinney is strongly outpacing larger metros like Dallas (37.54) and Fort Worth (36.56) in terms of its strength as a seller’s market.

The average days on market for McKinney homes is also relatively low at just 68, in comparison with Dallas’ 103 and Fort Worth’s 92.