Sales were up by 9% in Plano for July. The average sales price was flat and the median sales price only rose by 3%. A little time out in the price increases. Pending sales jumped a whopping 30% so we can be assured that the August sales number will be up substantially. There was a very good increase of 24% in the new listings and an 11% rise in active listings. Unfortunately these increases only brought the months of inventory up to 1.9 months. Still a very short supply!
Sales: 414
Average Sales Price: $337,899
Median Sales Price: $299,000
Pending Sales : 416
New Listings: 594
Active Listings: 579
Months of Inventory: 1.9
Leases:
Leasing activity increased by 15% in July. the average rent rose 4% and the median rent by 1%. Pretty flat really. Pending leases jumped 202%. this is coming of a low base last year. There was a sharp increase of 25% in the number of new listings and a 23% jump in the active listings. However, as in single-family these increases only brought up the months of inventory to 1.5 months. It's harder to find a rental property than to find a house to buy!
Leases: 225
Average Rent: $1,937
Median Rent: $1,820
Pending Leases: 160
New Listings: 316
Active Listings: 243
Months of Inventory: 1.5
Information provided by the Real Estate Center at Texas A&M.
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