Dallas Area Residential Sales Report for February – Plano, TX
Buyers snap up homes as soon as they hit the market!!
Home sales declined by 34% as compared to last February. Pending sales dropped 32% as buyers just can’t find that dream home due to the short supply.
The average sales price increased by 8% while the median sales price rose by 13%. There was a small increase of 3% in the number of new listings but the active listings were down 20%. The months of inventory, a measure of supply/demand stands at 2 months. 6 months is considered a balanced market.
Average Sales Price: $546,909
Median Sales Price: $482.000
Pending Sales: 140
New Listings: 184
Active Listings: 65
Months of Inventory: 0.2 months
Information provided by The Texas Real Estate Center