Dallas Area Residential Sales Report for May – Plano, TX

Sales down. Prices Up!

Single family home sales fell by 16.8% in May compared to lat May. Properties under contract also declined by 19.9%. The median sales price rose 42.4% while the average sales price increased 25%. The ratio of sales price to original list price was 110%.  New listings did not help down 10.1% . Active listings dropped 7.4% taking the months of inventory to 1 month. 6 months is considered a balanced market.

Sales: 283

Median Sales Price: $593,000

Average Sales Price: $658,777

Ratio of Sales Price to Original List Price: 110%

New Listings: 376

Active Listings: 275

Months of Inventory: 1 month

Information provided by The Texas Real Estate Center