In spite of the doom and gloom we are hearing these days on the news every day, this could not be a better time to purchase a home in Plano, TX. If you're an existing home owner in Plano, maybe uncertain about selling, you'll find the current market is extremely active with serious buyers.
If you're looking to buy a home, there is about 4 months supply of new listings, a stable price market and better interest rates than we've seen in some time.
If you're currently renting and haven't yet ventured into Plano home ownership, we've provided suggestions below that could help with your decision.
Plano Real Estate Stats
We know this is a great time to purchase real estate in Plano, but don't take our word for it, here are the current stats for January 2020.
There is a great selection of homes on the market, and offered by motivated sellers. Sellers are receiving an average of 95.4% of the list price for single-family homes.
Prices have increased: 7.3% since January 2019 for single-family homes. This is enough to demonstrate a stable buyers market without any ridiculous price spikes. Plano homes are remaining on the market for about 75 days on average, which is great for sellers.
What does this mean if you’re selling a house in Plano?
It is a good time to sell your home and cash out the equity in the home.
What does this mean if you’re buying a house in Plano?
It is still a seller's market. Be ready to compete with other buyers in the market.
Plano Home Value Estimate
If you want to know what your home might sell for find out using our instant home value estimator.
Texas Mortgage Rate Trends
Current rates in Plano, Texas are 3.73% for a 30 year fixed loan, 3.06% for a 15 year fixed loan and 3.48% for a 5/1 ARM.
This data was taken from Realtor.com and based on rates as of March 2020. You can see that the interest rates have gone down over the past 30 days, and have currently settled in a range below 4%.
New Home Construction Options in Plano
The new home construction industry in Plano is booming. What many people don't realize, you can own a brand new home or townhome in Plano or under $400,000. In fact, there is a huge range of available inventory ranging from the $350,000s into the millions - basically something for everyone.
New communities in Plano are:
Villas of Hogan's Glen
Tips: Looking for A Top Plano Real Estate Agent?
When looking for a top real estate agent in Plano, how can you look for a real estate agent who excels in their field?
You need to look for a real estate agent with designations and certifications.
If you are interested in moving to our great city of Plano and need help finding a home, I would appreciate the opportunity to help you. I have lived in Dallas metro area for over 14 years. With nearly 40 suburbs in the Dallas area, with our help, you are sure to find a neighborhood to match your “must-haves” list and narrow down your top choices. Contact us for an in-depth analysis of your needs and recommendations along with market reports of various neighborhoods! Discover new construction homes or master planned communities in PlanoTX, Frisco TX, McKinney TX, Prosper TX, Coppell TX or Irving TX which offer homes to suit every lifestyle and budget.Since many of my clients are relocation buyers, I have all the tools you need to help your home search. Whether it is video previews of homes, extended work hours, digital signatures for documents or more, I can make this process as comfortable as possible no matter where you are located.