Sales in September were down by 4%. The average sale price continued to climb and was up by 6% while the median sale price was up by 9% indicating more sales in the higher ranges.
Pending sales were up by 20% so we can look forward to a rebound in October. The number of new listings was up by 13% but this did not help the shortage of properties currently on the market. The number of active listings was down by 22% and the months of inventory shrank to 1.5 months.
As in many other Cities in the Dallas area, Plano continues to be a strong sellers market and this trend will continue until we see the supply of homes increase sharply or demand by buyers diminish. Neither of these look likely to occur soon.
Sales: 322
Average Sales Price: $320,639
Median Sales Price: $268,500
Pending Sales: 253
New Listings: 309
Active Listings: 431
Months of Inventory: 1.5
Information provided by the Real Estate Center at Texas A&M.
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