Dallas Area Residential Sales Report – Plano, TX

The Plano Market topped out in May. I thought it might be interesting to you to see how it has performed since them. Data is s comparison of May to October.

Single family home sales have declined by 35% from May through October. Pending sales were off by 48.34%. The median sales price dropped 29.83% while the average sales price came in with a decline of 28.9%. The ratio of sales price to original list price fell 11.94%. New listings were 40.8% lower. Active listings increased 46.73%. Days on market rose by 128.46% and the months of inventory  increased to 1.7 months.

Some of the decrease in sales price can be attributed to buyers purchasing smaller homes to offset the rise in interest rates.

May.                        Oct.                Change

Sales:

380                            247                  -133

Pending Sales:

302                            156                   -146

Median Sales Price:

590,000                    520,000        -175,975

Average Sales Price:

634,847                     568,440       -183,478

Ratio/ to Original Sales Price:

109.7                          96.6              -11.94%

New Listings:

451                              267                -40.8%

Active Listings:

321                             471                  46.73%

Days on Market:

13                                31                138.46%

Months of Inventory:

1                                 1.7                   70%

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