Dallas Area Residential Sales Report for February - Plano TX
Sales have been declining in the Plano area for several months now and February was no exception. Sales fell 9% compared to a year ago. The average sales price was up 7% while the median sales price was flat. Price increases have been moderating. Pending sales fell 12% so it looks like March will continue the downward trend in sales. The number of new listings rose 3% while the active listings jumped 22%. As I have explained in other reports, this large increase in active sales is an anomaly caused by extremely low inventory levels last February. The important number to look at is the months of inventory and in Plano's case, the February number is 1.5 months. This is the big problem. Buyers are out there but they just can not find the home for their lifestyle due to the low supply.
Sales: 229
Average Sales Price: $418,805
Median Sales Price: $334,000
Pending Sales : 284
New Listings: 332
Active Listings: 437
Months of Inventory: 1.5
Information provided by The Real Estate Center
#mariesellsdallas #plano #planorealestate #planohomesforsale #realestate #planorealestatetrends
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