Well, Plano followed the July trend and sales were off by 9%. Pending sales also fell by 11% so it looks like August will be a down month too!. The average sales price increased 9% while the median sales price rose by 7%. The number of new listings declined 18% however, the active listings rose 8%. The months of inventory now stands at 2.1 months. 6 months is considered a balanced supply/demand. The Plano market is still very much tilted to the Seller's side.
Yesterday I read a report on sales in California in July, Sales there were off by 4.9% in July. So, what ever caused the sales decline here appears to be also effecting California.
Sales : 360
Average Sales Price: $367,037
Median Sales Price: $320,000
Pending Sales: 371
New Listings: 490
Active Listings: 623
Months of Inventory: 2.1
Information provided by The Real Estate Center at Texas A&M.
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