Plano Market Update and Real Estate Advice

By
Real Estate Agent with Common name, Uncommon service - Smith & Smith Realty, LLC
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....
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Jerold and Terry Smith

Plano Texas Real Estate
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