"As prices have inflated, the real estate market ballooned up and now air is coming out of the bubble. Collin County did not blow up," said Betty Magee of Magee & Associates, Realtors. The median price of an existing, single-family home in California for November of 2006 was $555,290, a 1.4 percent increase over the revised $547,870 median for 2005 as reported by the California Association of Realtors. In New York the numbers are less severe. The November 2006 statewide median sales price of $250,000 represented a 5.7 percent decline from the November 2005 median of $265,000. The November 2006 median did increase by 3.5 percent compared to the October 2006 median of $234,000. As for Collin County, the median price for November 2006 was $193,700, $361,590 less than California. According to the Real Estate Center, single-family homes sales for December of 2006 in Collin County were at 6,333, a 5 percent decrease from the following year. The 5 percent decrease can be seen as a positive compared to November homes sales that were down 7 percent from the previous year. While home sales are down, the December average price per home was up 2 percent from the previous year, indicating that there is a slight appreciation. The Dallas Morning News reported a 5 percent decrease in housing sales last week.
[Inside Collin County Business]
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