Plano, TX Residential Real Estate Sales Report for January

Single-Family:

Sales in January were up by 2%. The average sales price increased by 22% while the median sales price was up by 3%. Looks like there were a couple of high priced sales that pulled the average sales price up by such a large amount. Pending Sales rose by 7%. The new listings continued to decline and were down by 11%. The active listings dropped by 30% leaving the months of inventory at 0.8 months. Sure makes it difficult to find a home.

Sales: 182

Average Sales Price: $353,322

Median Sales Price: $262,000

Pending Sales: 210

New Listings: 252

Active Listings: 252

Months of Inventory: 0.8

Condos and Townhouses:

Plano does not have a lot of condos and townhouses so the data can be erratic.

Condo and townhouse sales were off by 30%. The average sales price declined by 25% and the median price by 34%. Pending sales dropped 20%. The number of new listings increases by 12% while the active listings declined by 5%. The months of inventory increased to a whopping 0.8 months.

Sales: 14

Average Sales Price: $161,588

Median Sales Price: $120,500

Pending Sales: 20

New Listings: 28

Active listings: 18

Months of Inventory: 0.8

Leases:

Leases increased by 7% in January. The average rent was up by 4% and the median rent by 2%. Pending leases jumped by 161%. The number of new listings declined by 2% while the active listings increases by 20%. The months of Inventory now stands at 1.4 months.

Leases: 118

Average Rent: $1,787

Median Rent: $1,700

Pending Leases: 60

New Listings: 167

Active Listings: 219

Months of inventory: 1.4  

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

Richardson, TX Residential Sales Report for January

Single-Family:

Sales were down by 8% in the Richardson area for January. As in the previous months this decline in sales is not due to less demand but to the shortage of available homes for sale. The average sales price increased by 14% while the median sales price was up by 7%. Pending sales were up by 15%. The number of new listings declined again this time by 9% and the active listings dropped by 32%. there is now a 0.7 month supply of homes for sale in the area.

Sales: 67

Average Sales Price: $ 233,755

Median Sales Price: $200,200

Pending Sales: 90

New Listings: 86

Active listings: 68

Months of Inventory: 0.7

Condos and Townhouses:

Richardson does not have a large number of condos and townhouses so the numbers can be erratic:

Sales were up by 229%. The average sales price increased by 4% while the median sales price  declined by 37%. Looks like there were a number of sales at the lower end of the rage but also some sales at the top end. Pending sales were up by 30%. the new listings increased by 35% but this did not offset the decline of 31% in the number of active listings. The months of inventory is now at 1.9 months.

Sales: 23

Average Sales Price: $99,545

Median Sales Price: $48,000

Pending sales: 13

New Listings: 23

Active Listings: 27

Months of Inventory: 1.9

Leases:

Residential leases were off by 47% in January. The average rent increased by 11% and the median by 4%. Pending leases increased by 30%. The new listings dropped by 24% and the active listings by 17%. there is a 1.3 months supply. just a little better than homes for sale.

Leases: 23

Average Rent: $1,550

Median Rent: $1,450

Pending Sales: 13

New Listings: 41

Active Listings: 50

Months of Inventory: 1.3

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

Far North Dallas Residential Sales Report for January

Single-Family:

Sales were up by 37% in January. The average sales price was down by7% but the median price was up by 12%. Pending sales showed a dip of 11%. The number of new listings declined by 16% while the active listings dropped by 5%. Nothing new here. Same story. No inventory. The months of supply is now at 1.4 months.

Sales: 70

Average Sales Price: $379,043

Median Sales Price: $340,000

Pending Sales: 65

New Listings: 91

Active listings: 144

Months of inventory: 1.4

Condos and Townhouses:

Sales increased by 10%. The average sales price declined by 1% while the median sales price jumped by 33%. Pending sales dropped by 23%. the number of new listings was down by 10% and the active listings by 36%. The months of inventory is 1 month. Very difficult to find a condo or a townhouse with this short supply.

Sales: 33

Average Sales Price: $138,978

Median Sales Price: $116,500

Pending Sales: 31

New Listings: 35

Active Listings: 45

Months of inventory: 1.0

Leases:

Residential leases were off by 33%. the average rental rate declined by 2% while the median rate increased by 3%. Pending leases jumped by 117% but this was comming off a very low number from last year. The number of new listings dropped by 14% and the active listings declined by 4%. The months of inventory  is at 1.5 months.

Leases: 34

Average rental: $1,751

Median Rental: $1,750  

Pending Leases: 13

New Listings: 54

Active Listings: 67

Months of inventory: 1.5

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

Dallas Area Residential Sales Report for January

Single-Family:

Single-family home sales increased by 3% in January. The average sales price increased by 9% while the median sales price was up by 12%. We continue to see the sales concentrated in the upper price ranges with very little participation under $140,000. Pending sales were also up 3%. The number of new listings were down by 4% and the active listings by 14%. Months of inventory now stands at 3.3 months

Condos and Townhouses:

Condo and townhouse sales were off by 7%. The average sales price increased by 6% but the median sales price declined by 3%. this is an indication of an increase in sales in the lower price ranges. Pending sales increased by 3% while the number of new listings dropped by 10% and the active listings by 14%. the months of inventory is sitting at 3.9 months.

Leases:

Residential leases were off by 8%. The average rent increased by 4% and the median rent by 8%. The pending leases jumped a whopping 134%. New listings declined 5% and the active listings fell by 6%.

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

Frisco, TX Residential Sales Report for December

Single-Family:

Sales were up by 10% in Frisco for December. the average sales price increased by 7% and the median price by 11%. The pending sales number increased by 10%. We saw a good jump of 16% in the number of new listings but the number of active listings continued to fall and was down by 10%. the months of inventory declined to 1.3 months.

Sales: 291

Average Sales Price: $365,799

Median Sales Price: $ 328,000

Pending Sales: 166

New Listings: 186

Active listings: 410

Months of Inventory: 1.3

Condos and Townhouses:

There are not enough condos and townhouses located in Frisco to generated any useful data.

Leases:

The number of residential leases in Frisco increased by 13% in December. The average rent increased by 14% while the median rent increased by 6%. Looks like we had more rentals in the lower price ranges in this month. Pending leases jumped 167%. The new listings increased by 33% pushing up the number of active listings by 22%. There was a slight increase in the months of inventory to 1.4 months which still does not leave us with much supply.

Leases: 103

Average Rental Rate: $2,079

Median Rental Rate: $1,850

Pending Leases: 64

New Listings: 153

Active Listings: 202

Months of Inventory: 1.4

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

McKinney, TX Residential Real Estate Report for December

Single-Family:

Sales were up 15% in the McKinney area for December. The average Sales Price increased by 9% while the median sales price rose by 5%. Pending sales climbed by 5%. The number of new listings jumped by 21% but the number of active listings still declined by 12%. The months of inventory remains very low at 1.1 months.

Sales: 230

Average Sales Price: $291,552

Median Sales Price: $259,900

Pending Sales: 123

New Listings: 141

Active Listings: 247

Months of Inventory: 1.1

Condos and Townhouses:

There are very few condos and townhouses in McKinney. Due to the small amount of properties the numbers tend to be very volatile and meaningless.

Residential Rentals:

Leases were down by 24% in December. The average rent increased by 4% but the medium declined by 2%. Pending leases were up by 108%. The number of new listings increased by 1% while the active listings jumped 56%. Even with the large increase in the active leases the months of inventory remains very low at 1.5 months.

Leases: 54

Average Rent: $1,613

Median Rent: $1,520

Pending Leases: 27

New Listings: 85

Active leases: 126

Months of Inventory: 1.5

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

Allen, TX Residential Report for December

Single-Family:

Single-Family homes sales in Allen were up by 16% in December. The average sales price climbed by 17% and the median sales price jumped a whopping 26%. The large disparity between these two numbers is caused by more sales being in the upper price ranges. While I do not have a breakdown of sales by price ranges in the Allen area, I can tell you that every price range below $140,000 in the Dallas area is in double digits to the negative and I do not believe Allen would be any different.

Pending Sales were up by 27%. New listings climber by 11% and the number of active listings increased by 24% but this only helped the months of inventory to increase slightly to 1.4 months.

Sales: 122

Average Sales Price: $326,940

Median Sales Price: $289,000

Pending Sales: 66

New Listings: 68

Active listings: 169

Months of Inventory: 1.4 months

Condos and Townhouses:

There are very few condos and townhouses in Allen. Because of this fact, the numbers are very volatile and can not really provide you with a trend.   

Leases:

Leases increased by 5% in December. The average rent was up by 1% and the median rent increased by 13%. Pending leases were up by 55%. The number of new listings jumped 25% but due to the increased executed leases the active leases declined by 2%. The months of inventory remains very low at 1.1 months.

Leases: 41

Average Rent: $1,764

Median Rent: $1,700

Pending Leases: 17

New Listings: 35

Active listings: 48

Months of Inventory: 1.1

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

Plano, TX Residential Sales Activity Report for December

Single-Family:

Plano experienced a 2% drop in sales for December. The average sales price increased by 5% and the median price by 4%. Pending sales were up by 27% indicating a rebound in January in closed sales. The number of new listings increased by 5% but the number of active listings declined by 27% leaving the months of inventory at 0.9 months. The market remains extremely tight with buyers finding very little to chose from.

Sales: 251

Average Sales Price: $309,490

Median Sales Price: $267,100

Pending Sales: 174

New Listings: 169

Active Listings: 260

Months of Inventory: 0.9

Condo and Townhouse:

There are not many condos and townhouses in Plano so these numbers can be volatile.

Sales were down by 22%. The average sales price was down by 3% while the median sales price increased by 2%. Pending Sales declined by 38%. The number of new listings increased by 55% but the active listings declined by 52%. The months of inventory stands at 0.5.

Sales : 22

Average Sales Price: $215,862

Median Sales Price: $196,750

Pending Sales : 10

New Listings: 17

Active Listings: 11

Months of Inventory: 0.5

Leases:

Leases were up by 43%. The average lease price was flat and the median rent increased by 4%. Pending leases jumped by 178%. The number of new listings increased by 49% while the number of active leases was up by 29%. Even with the sharp jump in the new listings and the active listings the months of inventory remains very low at 1.4 months.

Leases: 123

Average rent price: $1,792

Median Rent Price: $1,750

Pending Leases: 52

New Listings: 156

Active Listings: 205

Months of Inventory: 1.4

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

Lake Highlands/North East Dallas Residential Sales Activity Report for December

Single-Family:

Sales in the Lake Highlands/Northeast Dallas area were up by 2% in December. The average sales price increased by 1% and the median sales price was up by 6%. Pending sales jumped 50%. The number of new listings was up by 52% but this was offset by sales leaving the number of active listings declined by 4%. The months of inventory continued to drop and now stands at 1.5 months.

Sales: 59

Average Sales Price: $319,262

Median Sales Price: $309,000

Pending Sales: 42

New Listings: 38

Active Listings: 95

Months of Inventory: 1.5

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

Richardson, TX Residential Sales Activity Report for December

Single-Family:

Sales were down in the Richardson area in December by 22%. There are still a lot of buyers out there, but due to the extreme shortage of properties for sale, they just cannot find a home to buy. The average sales price increased by 22% and the median sales price jumped 18%. These price increases are also being fueled by the shortage of properties especially in the lower price ranges. Pending sales were up by 11%. We did see a small increase of 7 percent in the new listings, but the number of active listings declined by 12%. The months of inventory is at 0.9%. Yes, that’s right: less than 1 month’s supply!

Sales: 80

Average Sales Price: $238,112

Median Sales Price: $211,750

Pending Sales: 62

New Listings: 64

Active listings: 93

Months of Inventory: 0.9

Condos and Townhouses:

There are relatively few condo and townhouse complexes in Richardson so these numbers tend to jump around.

Sales were up by 91% in December. The average sales price increased by 7% while the median sales price also increased by 7%. The number of pending sales was up by a whopping 375%. I told you these numbers can jump around. New listings increased by 33% but the active listings dropped by 49%. The months of inventory declined to 1.6 months.

Sales: 21

Average Sales Price: $112,830

Median Sales Price: $80,120

Pending Sales: 19

New Listings: 12

Active Listings: 21

Months of Inventory: 1.6

Leases:

We are starting to see a decline in lease activity in a number of areas along with declines in rental rates. At this point I do not know if demand is slacking or if the shortage of rental properties is forcing potential tenants into apartments.

Leases were down by 14%. The average rent declined by 8% and the median rent was flat. In this case, it looks like there were simply more properties leasing in the lower price ranges and pulling the average down: but it is something to keep an eye on. The number of pending leases was up by 78%. The new listings were down by 13% and the active listings declined by 13%. The months of inventory remains very low at 1.1 months.

Leases: 24

Average Rent: $1,319

Median Rent: $1,400

Pending Leases: 16

New Listings: 28

Active Listings: 46

Months of Inventory: 1.1

Far North Dallas Residential Sales Activity Report for December

Single-Family

Sales in Far North Dallas were up by 3% compared to last  December. The average sales price jumped by 29% and the median sales price increased by 17%. These large increases are indicative of sales being skewed to the higher priced homes. Pending Sales increased by 20%. The number of new listings increased by 65% and while this large increase certainly helped the active listings were still down by 1% and the months of inventory remains very low at 1.6 months.

Sales: 103

Average Sales Price: $453,611

Median Sales Price: $346,500

Pending Sales: 55

New Listings: 66

Active Listings: 158

Months of Inventory: 1.6

Condos and Townhouses:

Condo and Townhouse sales were up by 69%. The average sales price increased by 20%. The median sales price went up by 93%. This is a clear indication that there were a number of abnormal sales at the high end. Pending Sales increased by 33%. The number of new listings declined by 3% and the active listings declined by 35%. The months of inventory is at 1.1 months. It’s very hard to find a condo or townhouse in this area.

Sales: 49

Average Sales Price: $178,287

Median Sales Price: $175,250

Pending Sales: 36

New Listings: 31

Active Listings: 53

Months of Inventory: 1.1

Leases:

Leases increased by 6% in December. The average rent declined by 4% and the median rent was flat. just looks like more lower priced properties leased in December in this area pulling the average down. Pending leases were up a whopping 360% compared to a year ago. this is really an aberration.  Last Decembers’ numbers were just very low. the number of new listings dropped by 21% while the active listings declined by 35%. The months of inventory is at 1.2 months. Not many properties to choose from!

Leases: 37

Average Rent: $1,602

Median Rent: $1,500

Pending Leases: 23

New Listings: 33

Active Listings: 54

Months of Inventory: 1.2

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