Single-Family:

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.