Thursday, October 28, 2010

Plano Homes in Foreclosure Remain Low

The third quarter statistics for Plano real estate and other Collin County communities show that foreclosures are a small part of the market.  Plano Foreclosures represent only 5.2% of the total available market.  The table below shows the most current information:

                                            Total Inventory         Foreclosures          % of inventory

Plano                                        1433                             75                          5.2%
Frisco                                       1372                             98                          7.1%
Allen                                          513                             33                          6.4%
McKinney                                  967                             66                          6.8%

Foreclosure inventory is down about 19.7 % from a year ago.  In the same period the traditional market inventory has declined by 10.7%.  Demand for homes has been lower this year but the supply of available homes has declined at about the same rate as the demand.  This leaves us in a fairly stable market.  Certain price points are more sensitive to pressure from foreclosures than other price points.  Of the total 1187 foreclosures available in the DFW real estate market  the price point breakdown looks like the following:

Price Point                                              Available Inventory        Change vs. 10/2009
Up to $149,999                                              678                                  -23%
$150,000 to $199,999                                    179                                  -7.3%
$200,000 to $299,999                                    144                                -20.9%
$300,000 to $499,999                                      99                                -34.4%
$500,000 and above                                         87                                +20.8%


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