This report in a month over month comparison which I hope gives you a better since of what is going on in the current market than the year over year numbers you see in most reports.
The market in Plano is continuing it’s return to a more normal market condition. Technically we are still in a sellers market due to supply, but buyers do not feel any compulsion to purchase as soon as possible. A lot of the inventory is caused by homes staying on the market for a longer period of time rather than new supply.
November saw a 29.3 % decrease in the number of sold units compared to October. Pending sales fell 10.4% The median sales price declined by 8%. The average sales price came in 5.4% lower. The ratio of sales price to original list was 95%.New listings dropped 21.7% and active listings were off 6.4%. Days on market rose 6.7% and the months of inventory fell by 5.6%.
Pending Sales: 103
Median Sales Price: $460,000
Average Sales Price: $536,119
Ratio of Sales Price to Original list: 95%
Active Listings: 363
Days on Market: 32
Months of Inventory: 1.7