Prices rise as inventory drops

Dallas Area Residential Sales Report for November – Plano, TX

Home sales rose 23% as compared to last November. Pending sales increased by 11%. The average sales price climbed 15% while the median sales price came in 10% higher. New listings declined 15% and the active  listings dropped 65%. The months of inventory now stands at 0.8 months. This is a very small supply.  6 months is considered a balanced market.  If you are a buyer you should expect vary heavy competition.

Sales: 266

Average Sales Price: $461,071

Median sales Price: $380,000

Pending Sales: 276

New Listings: 217

Active Listings: 225

Months of Inventory: 0.8 months

Information provided by The Real Estate Center

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