As of November 2024, the Plano, Texas housing market exhibits several notable trends:
Median Home Prices:
The median listing price is approximately $547,000, reflecting a 3.9% increase year-over-year.
The median price per square foot stands at $227.
The median sold home price is around $525,300.
Market Activity:
Homes are selling after an average of 57 days on the market, indicating a slight increase compared to the previous year.
The sale-to-list price ratio is 98.8%, suggesting that homes are selling close to their listing prices.
Inventory Levels:
The number of homes for sale has risen by 2.6% from October to November 2024, totaling 936 available properties.
This increase in inventory may provide buyers with more options in the market.
Market Classification:
Plano is currently considered a buyer's market, meaning the supply of homes exceeds demand, potentially giving buyers more negotiating power.
Comparison with Nearby Cities:
Plano's median home price is higher than neighboring Richardson ($465,100) but lower than Parker ($1.2 million).
Conclusion:
The Plano housing market in November 2024 shows moderate price appreciation and increased inventory, offering potential opportunities for buyers. However, the extended days on market suggest a need for sellers to price competitively and ensure properties are market-ready.
Call us at 469-269-6541 for more information about Plano real estate!
Contact Top Plano Listing Agent for Your Home Sale
If you’re ready to embark on your home sale journey with confidence after reading our home sale tips, we are here to assist you every step of the way. Selling your home is a significant decision, and we are committed to making the process as smooth and successful as possible.
Based on our years of experience in the Plano real estate market, we know the Plano real estate market and can give you expert advice for your individual situation. We will sit down with you for a free one-on-one consultation, and deliver a comprehensive data profile of your local area & property.
Call us at 469-269-6541 or Contact us today to discuss your home sale needs and receive personalized guidance, as recommended in this home
