Hidden Creek is a stunning neighborhood nestled in McKinney, TX. Builders such as Highland Homes, Sotherby Homes, Centex and Grand Homes built this sought-after community in the late 90's. In 2008 44 homes sold in Hidden Creek, according to MLS statistics.
The low price went for $130,824 and the high price was $345,000, with sellers receiving 98% of list price on average. The average price per square foot was $74.46.
Of the 44 sales, 12 were either foreclosures or short sales (27%). This figure is an important one when determining value of the homes in the neighborhood. Foreclosures and short sales can drive down values, given that the motivation for selling the home is different than a normal sale.
Another interesting facts, yet a fact that is hardly ever revealed but SHOULD be, is the fact that 16 of 44 sellers contributed towards buyer's closing costs! Why is this so important? Let's say a home sells for $100,000. The sellers did not pay for any of the buyer's closing costs. Let's say their neighbors with the EXACT same floorplan and condition sells for $100,000, BUT also paid for $5,000 of the buyer's closing costs. Are these 2 offers equal? NO. The neighbor could have also sold the house for $95,000 and NO closing costs and the offer would have been equal. Closing costs need to be factored into comparables.
Below are how the 25 sales broke down, month by month:
January - 3 sales
February - 1 sale
March -2 Sales
April - 3 sales
May - 3 sales
June - 4 sales
July - 6 sales
August - 9 sales
September - 6 sales
October - 3 sales
November - 3 sales
December - 1 sale
If you're looking for a McKinney Realtor that KNOWS Hidden Creek Real Estate, then give me a call!
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If you're looking for a home in the McKinney, TX area then search for homes on my main Collin County real estate website at www.ServinginCollinCounty.com.
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