Sales for February in Plano were flat. The average sales price increased 17% and the median sales price was up by 9% compared to a year ago. Pending sales were off by 4%. The number of new listings actually increased by 9% but this did not help the active listings which dropped by 26%. The months of inventory had a corresponding decline to 0.9 months.
It’s really tough to find a good house in Plano to buy!
Sales: 230
Average Sales Price: $336,660
Median Sales Price: $272,020
Pending Sales: 209
New Listings: 295
Active listings: 265
Months of Inventory: 0.9
Condos and Townhouses:
There are not a lot of condos or townhouses in Plano so the numbers can be volatile.
Sales were off by 19% in February. The average sales price jumped 109% and the median price by 170%. These huge increases were caused by several sales in the $700,000 to $900,000 price range that are not typical for this area. Pending Sales were off by 10%. The new listings declined by 33% but we did get an increase in the number of active listings by 67%. The bad news is there is only a 0.7 months supply. It’s harder to find a condo or townhouse in Plano that it is to find a single-family home.
Sales: 17
Average Sales Price: $327,873
Median Sales Price: $270,000
Pending Sales: 19
New Listings: 18
Active listings: 15
Months of Inventory: 0.7
Leases:
Leases were down by 11%. The average rent increases by 7% and the median rent by 8%. Pending leases jumped by 139%. The new listings were up by 1% while the active listings increased by 19%. The months of inventory climber a little bit to 1.3 months.
Leases: 117
Average Rent: $1,838
Median Rent: $1,720
Pending Leases: 74
New Listings: 163
Active Listings: 203
Months of Inventory: 1.3
Information provided by the Real Estate Center at Texas A&M.
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