The Plano TX Housing Market September 2021 remains a strong seller's market. The median sales price for single family, single detached, resale homes closes out at $450,000. This is the same median sales price for the previous month of August. The median days on market still indicates a continued strong demand for single family homes in Plano, Texas. Activity for the last seven days reveals the new listings outpacing sold properties. The information gathered for this update is from NTREIS, North Texas Real Estate Information Systems. The charts on the video can be found on the Plano Texas Housing Market page.
Plano Housing Prices Steady?
Plano Median Sale Price Remains Steady
The median sales price did not change from previous month of August, 2021. The upward momentum seems to have stabilized for the last few months. Keep in mind this is for the entire city of Plano. At this time, the numbers do not indicate a downward trend, rather prices seem to be cooling off.
Plano TX Housing Market September 2021 Metrics for 7 Days
The image below displays the metrics for the seven days leading up to September 9, 2021 in the City of Plano, TX. This is based off of single family resident homes. You will notice that new listings are outpacing sold listings. It has been a long time since this has happened. There does seem to be quite a few pending and active option contract properties. This will contribute to listings sold for this coming month's report.
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 September 9, 2021. The new listings are still outpacing the sold listings. The image above reveals a considerable amount of inventory are in pending status as well as active option contract properties. The properties will typically convert to sold properties. These properties can also revert back to active status or even be withdrawn from the market.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 TX Home Sellers and Buyers
The Plano real estate market seems to have settled a bit for the past 3 months. Although the median sales price remains the same, the days on market also has not changed. A low of six days on market indicates a continued high demand for properties. 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. Plano TX is showing an increase of available properties and seeking buyers are still consuming quickly. We are now heading into the fall and activity usually decreases as we leave the summer months. 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.