Plano TX Housing Market June 2021

June 9, 2021

Plano Texas Real Estate Market Update June 2021

The Plano TX Housing Market June 2021 remains a strong seller's market.  There are numbers that are contributing to an increase of supply.  As of today, the demand for homes is still high.  This high demand is quickly consuming desirable inventory.  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 Tops Out?

Plano Median Sales Price Drops

The median sales price drops for the first time since November, 2020.  The previous two months have show an increase for both "homes for sale" and "month's supply" which increases inventory.  Unfortunately, new listings declined which does not help build inventory.  A decrease in new listings may indicate a return to rising prices 

Median Sales Price Plano TX

Plano TX Housing Market June 2021 Metrics for 7 Days

The image below displays the metrics for the seven days leading up to June 8, 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.  There does seem to be an increase of new listings but plenty of buyers waiting to buy. 

Plano TX MLS Data June 2021

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 snapshot as of June 8, 2021.  The sold properties are still outpacing the new listings.  The image above reveals a considerable amount of inventory are in pending status.  There is actually more in pending than homes sold.  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  Pending properties can also revert back to active status or even be withdrawn from the market.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 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 to find their next home as inventory remains tight.  

Buyers, in this market, continue to experience extreme low inventory of homes, causing them stress.  Many seller's are receiving multiple offers and many are above asking price.  In addition to multiple offers, many buyers are offering an all cash offer, removing any contingencies from the contract.  This makes it extremely competitive for buyers. 

Entering into the market now 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. 

#1 Complaint  for Real Estate Agents

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