Cindy Peters has been in real estate since 2003 and moved here to Celina 13 years ago. She loves Celina and all that it has to offer. Cindy’s sweet spot is downtown Celina. Not only does she sell a lot downtown, but she also loves the historic square and how the city is making it a priority to keep that historic feel. Being active in the local community allows her the opportunity to meet and network with new people, and that is why she is currently active on the Chamber of Commerce in Celina. Owning a small business is her true American dream, and she considers herself lucky to help and guide those who are working toward making Collin County a great place to live, work, and play.
Cindy answers our questions about the future of the real estate market in Celina and how she foresees the market heading in 2023.
What is the demographic of your buyer and where are they moving to Celina from?
I am seeing more and more families moving to this area from out of state. People like the values and the schools here and love the small-town feel of the downtown area.
Over the last year, how has your buyer changed?
My investors have pulled back a little due to the rising prices but families relocating to this area has increased. However, with the continual rise of interest rates throughout the year, many buyers have pulled back from the market. Unfortunately, higher interest rates mean it's harder for buyers to qualify for the same loan amount they might have been able to afford a year ago, and that reality is hard to face.
What is the average time for a home to sell?
As of right now, homes are averaging anywhere from 30-60 days on the market.
What are the biggest challenges today in the market?
Though we had a crazy first half of 2022 housing market, that has shifted, although we still have a strong housing market here in our area. Even though interest rates have gone up the prices are not as high and buyers have more negotiating room. After a peak in May and June, the average home sale price dropped but then jumped back up again in October. Prices are starting to normalize, and we are beginning to see similar trends to the pre-pandemic market.
How are you preparing to help your clients for the next year?
Information and data are key. Everyone has different reasons for buying and selling so I help them navigate the current market conditions to evaluate what is best for them. While home prices and interest rates have been climbing, inventory levels have not kept up with demand. In October, the number of homes sold was down 29% from last year, and not because people aren't buying, but because there just aren't enough new homes being listed.
Have you seen an increase in new vs. preowned home sales?
I have seen an increase in new home sales due to lower pre-owned home inventory.
Cindy Peters hosts our monthly Realty Report and provides specific real estate information about various neighborhoods in Celina and Gunter. For more information on our local housing market, contact Cindy Peters - Compass Realtor:
Cindy.Peters@Compass.com
214.564.7886
CindyPetersRealEstate.com