Single-Family:

Sales were up 3% in the Plano area for August. The average sales price increased by 10% while the median sales price climbed by 9% as compared to a year ago. These increases are in line with increases in other areas. As is the case in many areas the pending sales number jumped  a strong 39%. We saw more inventory come on the market as the new listings rose 7% and the active listings increased 14%. However these increases in supply only caused the months of inventory to rise to 1.9 months. It’s still very hard to find a good home.

Sales: 397

Average Sales Price: $360,517

Median Sales Price: 4298,410

Pending Sales: 368

New Listings: 430

Active Listings: 556

Months of Inventory: 1.9

Leases:

Leases were up a whopping 39%. the average rent increased by 3% and the median rent by 4%.

Pending leases rose 39%. The number of new listings fell 12% and the active listings dropped 7%. The months of inventory now stands at 1.3 months. It’s harder to find a rental property that it is a home to purchase and that’s saying something.

Leases: 232

Average Rent: $1,976

Median Rent: $1,880

Pending Leases: 125

New Listings: 213

Active Listings: 215

Months of Inventory: 1.3

Looking for some fun this weekend? Head out to the Plano Balloon Festival. You can find more information about this event on my blog site.

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