Single-Family:

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.