Dallas Area Residential Sales Report – Plano, Texas

The single-family housing market in Plano is feeling a bit more chill these days. It’s not the crazy seller’s market it used to be, but it’s not a buyer’s free-for-all either. Think of it as a “somewhat competitive” market.

Here’s the scoop: Home prices are still going up, but not as fast as before. The median price for a single-family home in July was around $530,000, which is up a bit from last year. However, homes are taking a lot longer to sell—about 39 days on average, compared to just 28 last year. That gives buyers more time to think and less pressure to get into a bidding war.

Speaking of bidding wars, homes are now selling for a little bit less than their list price on average, and you’re seeing more and more price drops. That’s a huge shift. So, while you might not get a steal, you have more room to negotiate. The good news is, there are also more homes on the market to choose from.

Overall, it’s a more balanced market. Buyers have more options and less stress, and sellers can still get a good price, they just need to be more realistic with their expectations from the get-go.