Plano Real Estate Market Trends & Statistics
For Q1 2020 the median list price for Plano, TX is $465,000 with the market action index hovering around 43. This is an increase over last month's market action index of 40. Inventory has held steady at or around 417.
Plano Real Estate Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory. Currently we are seeing a Slight Seller's Advantage
Plano's market action index trend has been has been increasing since late Summer 2019. This increase reflects the strength of the plano real estate market and local sellers ability to maintain close to their original listings prices without having to decrease. Also, as reflected the inventory chart below home for sale inventory has been declining which has put additional demand on the market.
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward home pricing pressure in the near future if the trend continues in Plano TX.
Plano TX Real Estate Market Profile
|Median List Price||
|Per Square Foot||
|Days on Market||
|Slight Seller's Advantage|
Each Plano TX home segment below represents approximately 25% of the market ordered by price.
Plano Homes Average Days on Market
The Plano real estate market currently has and 90-Day rolling average of 118 days on market with a 7 day moving average that is showing a decline but has stalled at 121 days on market with intial signs of moving back up to match the increasing 90-Day average.. Based on previous DOM trends I believe that the 90 day average will continue to push upwards in coming months as available home for sale inventory is sold off and local market demand heats up in early Spring into Summer 2020.
Plano Real Estate Inventory Averages Q1 2020
Plano home inventory continues to have downward pressure with 537 homes for sale over an average of the past 90 days. This is a decline of 50% as overall inventory continues to be sold. We believe the primary contributor this sell off of inventory is due to a continuation of lower mortgage interest rates that occured during the 2nd half of 2019
Plano Median List Price Trends Q1 2020
While we have seen flucations in the median list price of homes for sale in Plano TX, we are starting to see a gradual increase in Q1 2020. In addition, the median list price 90-day average of $436,676 has exceeded what we saw back in Q1 2017, while the 7-Day average is showing dramatic upward pressure, with an average of $465,000. This 7-Day increase may be a contribution from more expensive homes being listed for sale in Plano TX.
Plano's Home Price Per Square Foot Average Q1 2020
Plano homes average price per square foot has remained mostly flat over the past year. We are starting to see an increase that may correlate to the average listing price increases reflected in the above chart. We will have to see if upward pressure on cost per square foot continues as the Spring and Summer markets. 90-Day averages is currently at $150 sqft, while the 7-day rolling average is showing dramatic increases to $153 this quarter
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NTREIS data last updated May 31, 2020.