Monday, August 23, 2010

Where do Plano home sales go from here

The data for the MLS area of Plano is mixed at best.  New home sales for the month of July were 250 units which was of by 26% from a year earlier.  Dollar volume was also off 25%.  Average price for homes was $267,795 which was up 1% from a year earlier.  And the median price was $240,000 which was 8% higher.

Year to date data is more encouraging but we need to be careful about a trend reversal.  Sales year to date were 1613 which was down only 4% and the dollar volume followed suit.  Average price was unchanged at $263,209 and the median price was up 2% at $220,000.

August and September numbers will tell us more but the market has a somewhat soft feel to it.  I do think we will see better numbers in September and through the rest of the year.

                                                   July                                            Year to Date
Sales                                          250                                                    1613
Pending Sales                              224                                                    1850
Average Price                        $260,242                                            $256,246
Average Days on Market             71                                                        77
Total Single Family inventory    1453

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