What happened in Plano TX Real Estate – January 2013
It is still a STRONG Seller’s Market in Plano Texas!!! Anytime there are less than 6-months of inventory available for purchase it is considered a Seller’s Market because there are more buyers than there are homes available for sale. This means that homes are selling more quickly and usually for top dollar. Currently we have 2-months of inventory in Plano TX.
Here’s a recap of what the real estate market in Plano TX was doing in January 2013.
Inventory is DOWN: In January 2013 there were only 328 homes available for sale in Plano Texas. This is down 2.7% from January 2012.
Homes are selling FAST: Last year the average time to sell a home was 103 days on the market. In January 2013 the average time is 78 days on the market – that’s a 24.2% drop in the time it takes to sell.
Home prices are rising: The average homes sales price in Plano, Texas is $262,482 as of January 2013. This is an increase of 8.2% from last year.
STRONG Seller’s Market: Current inventory shows only a 2 month supply of homes available for sale (that’s down 42.7% from January 2012). A balanced market is a 6 month supply (and a buyer’s market is anything over 6 months supply).
Buyers are still getting loans locked with 4% or less interest for 30-yr fixed. Home buyers in Plano Texas are looking for a home to purchase, and when they find one that is well-maintained and priced right – they are making their purchase offers quickly.
If you are considering selling your home in Plano, now is the time to move. Call me TODAY at 214-418-0180. Let me show you how we can help you achieve your goals together.
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