Cary-McCoy-Phillips Creek-November 2020

Cary McCoy

6400 W. Plano Parkway #112 Plano, TX 75093

CRS, ABR, GRI

214.621.5491 CaryMcCoy@ebby.com CaryMcCoy.Ebby.com PhillipsCreekLifestyle.com

Phillips Creek Ranch www.PhillipsCreekLifestyle.com

Phillips Creek Ranch Resident and Specialist Trusted • Focused • Connected • Relocation Specialist

Real Estate Market Report | December 2020

See All Recent Phillips Creek Sales at PhillipsCreekLifestyle.com

DON’T JUST LIST YOUR HOME

LIST WITH THE NEIGHBORHOOD EXPERT! ACTIVE

PENDING

5333 Highflyer Hills Trail | Offered at $850,000 5 Beds, 5.0 Baths | 4,268 Estimated Square Feet

7014 Poco Soto Drive | Offered at $750,000 4 Beds, 4.1 Baths | 4,537 Estimated Square Feet

Prepared Especially for

Jonathan-Thomas and Angela-Marie Washington Jonathan-Thomas and Angela-Marie My marketing is representative of the time, effort, and money you have spent in obtaining and maintaining your home. If you are looking to sell, let me help you achieve exceptional results. Call me today at 214.621.5491.

Published by REAL Marketing (REM) | www.REALMarketing4You.com | 858.952.4280 | ©2020

Presented by Cary McCoy, Your Phillips Creek Real Estate Specialist and Neighbor

Fall Real Estate Market Update

Cary McCoy

THE MARKET IS ABNORMALLY HOT

CRS, ABR, GRI

214.621.5491 CaryMcCoy@ebby.com CaryMcCoy.Ebby.com PhillipsCreekLifestyle.com

Over $350 Million Sold | A Home Sold Every 3 Days My Average SP/LP Ratio is 99.6% Trusted • Focused • Connected • Relocation Specialist

Phillips Creek

Real Estate Market Report

Jonathan-Thomas and Angela-Marie, If you want to know what your home would sell for in today’s market, contact me today at 214.621.5491 for your free report.

Phillips Creek Homes Currently Active Status Active Active Active Active Active Active

Street Name Backstretch Boulevard Statesman Lane Highflyer Hills Trail Forefront Avenue Tailwater Trail Echols Drive

Bedrooms 4 5 5 6 4 5

Bathrooms 4.1 5.1 5.0 6.0 4.1 5.1

Living Area* 3,500 4,300 4,300 4,800 4,500 4,900

List Price $720,000 $779,000 $850,000 $930,000 $1,128,900 $1,799,995

Typically, the real estate market tends to hit the brakes in the fall, as kids return to school and families juggle work, extracurriculars, and the upcoming holidays. But that’s not what’s happening. Homes are getting snapped up faster as values rise and mortgage rates continue to slide.

Why is Homebuying Taking Off Now?

How the Pandemic Shaped the Market

Experts can’t point to just one reason why homebuying has defied expectations as we face a still uncertain economy and elevated levels of unemployment. Why is there such a big appetite now?

Experts agree; the coronavirus has changed what people are looking for in a home—but to what extent is up for debate. Are people really abandoning major cities to buy houses in the suburbs?

Low mortgage rates? More space to work from home? Buyers who waited for the pandemic to subside? It’s likely a combination of a few or all of these factors.

Data suggests an interest in more space but not necessarily leaving the city. Many want to trade in their penthouse for a townhouse rather than leave the city.

Buyers who were held back during the spring watched mortgage rates drop. Now that businesses are opening and more people are finding ways to live safely, the homebuying hesitancy has subsided. Low rates are just adding extra impetus to an already motivated buying segment.

“After analyzing a slew of housing market data, we have not seen suburban markets strengthen compared to urban ones, nor an increase in search activity for single-family detached homes,” says Cheryl Young, senior economist at Zillow. Regardless of where you live, extra space is commanding buyer interest.

“With unusually high buyer interest this late in the homebuying season, buyers are moving much faster than this time last year to beat out competition and lock in low mortgage rates. This means homes are sitting on the market for much less time, despite notably higher price tags.”

—Danielle Hale, Realtor.com economist

There are Currently 9 Pending Phillips Creek Homes

Phillips Creek Homes Sold in the Last 90 Days Homes Sold

Bedrooms

Bathrooms

Living Area

Sold Price

Average DOM

37

4-5

3.0 - 5.2

2,581 - 5,316

$492,500 - $1,150,000

49

Jonathan-Thomas and Angela-Marie, This is the perfect time of year to take advantage of the unique market and historic conditions; don’t miss this opportunity! Call me today at 214.621.5491 to receive a personal market analysis.

by Forbes.com. Published September 11th, 2020 at 12:18pm by Forbes staff. | Vecteezy.com

Cary McCoy and Ebby Halliday Realtors are not in any way affiliated with the Phillips Creek Ranch Owners Association, nor is this in any way an official advertisement or publication of Phillips Creek Ranch. © 2020. All rights reserved. This representation is based on sales and data reported by multiple brokers/agents to NTREIS MLS for August 9th, 2020 through November 9th, 2020. Listings and sales may not be those of Ebby Halliday Realtors. NTREIS MLS does not guarantee the accuracy of this data, which may not reflect all of the real estate activity in the area. E&OE covered. This market report is not intended to solicit properties already listed for sale nor intended to cause a breach of an existing agency relationship. *Square feet rounded to the nearest hundred.

Are You Thinking of Selling?

Find Out Your Home’s Value Today!

This comprehensive assessment of your home’s value is provided to you as a complimentary service by Cary, your Phillips Creek real estate specialist. You will not be contacted with any other solicitation.

www.PhillipsCreekLifestyle.com

I take pride in representing our community and protecting its home values. I look forward to another year as your trusted local resource for any of your real estate needs!