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