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Plano Market Update and Real Estate Advice
Monday is an office day so we look at the market to determine what is going on to help buyers and sellers in this market. There are 1801 homes for sale in Plano that have been on the market for an average of 75 days. The median price is $260,000. For the past month or so the days on market has been trending up but the inventory and market action has remained flat, which basically means in layman terms, no strong indicators. Homes that are selling are under $325,000, 81 units sold last week. Only 8 homes sold last week over $600,000. Back in May the median price in Plano was $350,000, now it is $260,000. What this shows is that prices have adjusted and that they have remained stable through the mortgage mess. City Overview Median List Price - $260,000 Average List Price - $372,451 Asking Price per Sq. Ft.- $92 Average Days on Market - 75 Total Inventory - 1801 Sold this week - 89 Percent of Properties with Price Decrease - 49% (WOW!) Advice for Seller's is if you truly want or need or sell, take the read more.... ... more
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