Plano TX Housing Market August 2021

August 10, 2021

Plano TX Real Estate Market Report August 2021

The Plano TX Housing Market August 2021 continues to remain a strong seller's market.  The median sales price decreased for the city of Plano for the month ending July 2021.  Despite the decrease, the median days on market indicate a continued strong demand for single family homes in Plano, Texas.  Activity for the last seven days reveals more homes coming on the market than previous months.  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 Prices Stalls?

Plano Median Sale Price Drops a 2d Time

The median sales price drops for the second time since November, 2020.  The momentum seems to have stalled a bit last few months.  Keep in mind this is for the entire city of Plano.  The July numbers dropped a bit but it is easy to conclude that the overall trend is still moving upwards.  

Median Sales Price Plano TX

Plano TX Housing Market August 2021 Metrics for 7 Days

The image below displays the metrics for the seven days leading up to August 6, 2021 the City of Plano, TX.  This is based off of single family resident homes. You will notice that sold homes and new listings are beginning to have more of a balance.  There does seem to be an increase on the number of properties that were decreased in price.  

Plano Market Activity last 7 days

Data From the MLS, Multiple Listing Service

The information provided in photo is taken from the NTREIS, MLS.  This snapshot of seven days reveals the Plano market as of August 6, 2021.  The sold properties are still outpacing the new listings but not by much.  The image above reveals a considerable amount of inventory are in pending status.  The pending properties will typically convert to sold properties.  Pending properties can also revert back to active status or even be withdrawn from the market.  Keep in mind the numbers in this image is a snapshot of activity.  The market is constantly moving which causes the numbers to constantly change.  

Plano Home Sellers and Buyers

The Plano real estate market is continuing to move in an upward trend, despite the drop in median sales price.  Homeowners can still sell for premium prices but there are more properties hitting the market.  If the number of new listings continues to increase then this should help with the current high demand.  

Buyers in the market continue to compete for inventory.  This is revealed through the median days on market which is still in the single digit days.  Summer will soon come to an end and the demand usually decreases as we leave the summer months.  The market has been anything but normal since March of 2020.  Only time will tell if we begin to ease back into some sense of normal.  Also, keep in mind that interest rates remain near historic lows, good for buyers and sellers.  

Entering into the market  whether selling or buying can be stressful.  There are strategies that can be implemented for both seller's and buyer's to experience a more smooth transaction.  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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