Plano, TX Residential Sales Report for March

Single-Family:

Single-family sales were off by 9% in the Plano area in March. Demand is still high but buyers are having trouble finding a house to buy. The average sales price increased by 9% while the median sales price jumped by 16%. As with other areas, the average and median sales prices are being pulled up by not only demand but also by abnormally low numbers of sales in the lower price ranges. There were 7 sales below $150,000 and 5 sales above $1,000,000.

Pending sales were up by 7%. The number of new listings fell by 10% and the active listings by 29%. The months of Inventory dropped to 0.9 months.

Sales: 241

Average Sales Price: $361,156

Median Sales Price: $313,000

Pending Sales: 271

New Listings: 333

Active Listings: 268

Months of Inventory: 0.9

Condos and Townhouses:

There are very few condos and townhouses in Plano. Due to this fact, the condo and townhouse numbers are very erratic and I do not report them.

Leases:

Leases were up by 7%. The average rent increased by 5% as did the median rent.

Pending leases jumped 200%. The number of new listings climbed by10% while the active listings were up by 6%. Unfortunately these increases did not help the months of inventory which now stands at 1.1 months.

Leases: 157

Average Rent: $1,824

Median Rent: $1,800

Pending Leases: 102

New Listings: 187

Active Listings: 171

Months of Inventory: 1.1

Information provided by The Real Estate Center at Texas A&M.