The Plano Market topped out in May. I thought it might be interesting to you to see how it has performed since them. Data is s comparison of May to October.
Single family home sales have declined by 35% from May through October. Pending sales were off by 48.34%. The median sales price dropped 29.83% while the average sales price came in with a decline of 28.9%. The ratio of sales price to original list price fell 11.94%. New listings were 40.8% lower. Active listings increased 46.73%. Days on market rose by 128.46% and the months of inventory increased to 1.7 months.
Some of the decrease in sales price can be attributed to buyers purchasing smaller homes to offset the rise in interest rates.
Nov. Oct. Change
Sales:
380 247 -133
Pending Sales:
302 156 -146
Median Sales Price:
590,000 520,000 -175,975
Average Sales Price:
634,847 568,440 -183,478
Ratio/ to Original Sales Price:
109.7 96.6 -11.94%
New Listings:
451 267 -40.8%
Active Listings:
321 471 46.73%
Days on Market:
13 31 138.46%
Months of Inventory:
1 1.7 70%
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