Plano TX Housing Market April 2021

April 15, 2021

Plano TX Housing Market April 2021

The Plano TX Housing Market April 2021 revealed home prices continue to increase and inventory (although a slight increase) remains at historic lows.  The information gathered for this update is from NTREIS, North Texas Real Estate Information Systems.  The parameters were set for the city of Plano, single family residents and resale - which excludes new construction.  The charts on the video can be found on the Plano Texas Housing Market page.

Plano Housing Remains Scarce

Median Sale Price - Record High

The most notable move was another record high for the median sales price.  This metric alone had an increase from February to March of more than 5% and as a reminder, that is for one month.  This increase equates to over 60% increase on an annual basis.  

Plano TX Housing Market Median Sale Price April 2021

Plano TX Housing Market April 2021 Metrics for 7 Days

The image below displays the metrics for the seven days leading up to April 13, 2021 for the City of Plano, TX.  This is based off of single family resident homes. You will notice that sold homes are outpacing new listings which continues the demand for more housing. 

Plano TX Housing Market April 2021 MLS Data

Data From the MLS, Multiple Listing Service

The information provided in photo is taken from the MLS.  This snapshot of seven days reveals the Plano market is continuing in the same path.  The increase of median sales price is the result of high demand and low inventory.  The new listings that hit the market were at 40 for the previous seven days while the sold properties are 40% higher sitting at 56 total sold homes.  It must be noted that this data was a snapshot and the market continues throughout the day.  The numbers can change drastically in any given day so keep that in mind.   

Plano Home Sellers and Buyers

The Plano real estate market will continue to move as does any market.  Homeowners can sell now for premium prices but there are consequences.  One of these is the challenge for sellers is to find their next home as inventory remains tight.  Buyers, in this market, are already experiencing this extreme low inventory of homes causing them stress.  The current date is April 13, 2021 and historically this is the time inventory of homes increase.  There was a slight increase of new listings from February to March.  This may indicate homeowners feeling more comfortable about selling which could increase supply for buyers.  Entering into the market now whether selling or buying can be stressful.  To help avoid this stress, be prepared and know what to expect and more importantly, know all of your options.  Let me know if there is anything I can do for you. 

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