Hello, everyone, and welcome back to my blog! I’m Marie Walton, a REALTOR® with Ebby Halliday REALTORS, and today I am excited to bring you the latest market update for Plano, Texas in November 2023. Whether you’re a buyer or seller, this information is crucial for making informed decisions in our ever-changing real estate market.

Let’s start with the Months Supply of Inventory, which currently stands at 2.18 months. This number represents the hypothetical time it would take to sell all the homes on the market if no new listings were added. Over the past 12 months, we’ve seen a decrease of 3.11% in the Months Supply of Inventory, indicating a slightly more competitive market.

Now, let’s talk about List to Sold Price Percentage. In Plano, Texas, sellers are experiencing an average List to Sold Price percentage of 98.5%. This means that homes are selling very close to their list price, showing that sellers are achieving their desired prices in the current market conditions.

Next, let’s discuss the Median Days on Market, which is an important metric for both buyers and sellers. Currently, homes in Plano are spending an average of 26 days on the market before being sold. This indicates a relatively quick turnover, suggesting a high demand for properties in our city.

Lastly, let’s dive into the Median Sold Price. The median sold price in Plano is currently at $503,750. This figure represents the middle point of all the sold properties in the area, and it’s important to note that this can vary depending on the specific neighborhood and property type.

So, what does all this data mean for you as a buyer or seller in Plano, Texas? Well, for sellers, the low Months Supply of Inventory and high List to Sold Price Percentage indicate a favorable market for sellers. However, buyers should be prepared for a competitive market with homes selling close to their list prices and relatively quick turnovers.

Remember, real estate is a dynamic industry, and these numbers are just a snapshot of the current market conditions. If you’re thinking of buying or selling, it’s crucial to work with a knowledgeable REALTOR® who can provide you with accurate and up-to-date information specific to your needs.

If you have any questions or would like to explore your options in the Plano real estate market, feel free to reach out to me. I’m here to assist you every step of the way.

Marie Walton: Thank you for dropping in today! Don’t forget to subscribe to my blog for more valuable updates and tips. Until next time, take care and happy house hunting!