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Plano Real Estate Market Update – July 2013


City of Plano Real Estate Market Update Dashboard

Seriously, if you’re into “real” real estate data this post is for you.  These numbers come from the Plano MLS based on actual sold  volume.

So, what does this mean?

Plano Real Estate Market  Update - Aug - 2013

Take a look at the odometer dials.

This is interesting because it goes back 5 years.

Do you remember 5 years ago?

Setting the stage:

This is right before the markets blew up and the melt down ensued.
Of course, real estate everywhere was starting to feel this back in 2007.

Remember now ?  Good.  Then you can feel good about the current market!

Insight:

Closed Sales dial shows 5 yr. July average units 338.
July 2013 shows 385 units and that will increase.

New Listings dial shows 5 yr. July average units 495.
July 2013  shows 553 units.
This shows confidence of sellers to list their homes.

Active Listings dial shows 5 yr. average units of 1217.
July 2013 shows low inventory of 795 units.
Buyers will be and are thrilled with new inventory coming on market.
Rome wasn’t built in a day!

Med Sale $ dial shows 5 yr. average price of $224,730.
July 2013 shows $246,750.
A 9.7% in Plano appreciation.
Whoo – Hoo!

The Takeaway:

You can take a look at the snapshot for YoY & MoM statistics.  Everything you are hearing about real estate right now happened 2 to 3 months ago. It is a process to sell a home.

The market has slowed down now due to typical seasonal changes and perhaps because of an increase of interest rates.  Rates are still LOW. I see price reductions everyday and have so for the last 8 weeks.  Buyers, lenders and appraisers are very cautious on pricing. Still.

As soon as sales comps support price increases than more gains will be made.

You have to notice that people are moving here in droves.  Thanks to Amazon and State Farm for moving there regional offices to North Texas.  All & all,  a pretty positive outlook for Plano.

We have come a long way since 2008 and don’t let anyone tell you we didn’t have it as bad here, we had our own hell, just not like say: Arizona or California and others. It was not as bad here because you couldn’t finance your life at a 120% into oblivion! You know who you are.

If you need a sellers or buyers broker that likes to crunch the numbers so you can see what’s really going on. Call us, we’ll be happy to help! 214-415-9829.

About Terry Smith

Passionate about real estate, positive problem solver, specialty boutique real estate brokerage that does things your way! A full-time Broker & REALTOR®, helping people buy and sell homes in the Dallas - Plano area. Whether you're a buyer just starting out or someone with luxury properties to sell. I have extensive knowledge and experience to help you with your real estate transaction. I am a native Dallasite. Have questions? Ask me. You can find me on Google+ and Pinterest.

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