Homes in one part of North Texas are beginning to cost more than homes in the Austin area. Collin County just saw its median sale price rise 37-percent from March of last year to March of this year.
The county’s median sale price is now $540,000, which is a $65,000 jump from the previous month. According to data out of the Austin area, median prices during the same time period hit $521,000.
When taking a broader look across North Texas, the median home price rose about 22-percent to $380,000 this March. Home prices were up about 19-percent in Dallas County, 23-percent in Tarrant County and 25-percent in Denton County.
Collin County is home to McKinney, Frisco, Celina and Prosper, which just so happen to be some of the fastest-growing communities in the nation. Despite the recent price jump, some tout Collin County as still more affordable than other metro areas.
Around 1,300 homes in Collin County sold this March. That’s down slightly from a year ago. Homes in the county sold at an average of more than eight percent above list price, and were under contract in about 22 days.