How's the Market in West Plano?
In real estate the best way to learn about your neighborhood is to look at surrounding areas, like a 5 mile radius or look at the MLS sub areas of real estate data. National and city news is loaded with information way too broad to even touch your local real estate market. The only way to know it's in and outs is by being in the market buying and selling houses every single day! Trends evolve, like now it's low inventory, buyers are struggling with financing conditions and some seller's are asking for pre approval letters before you can even submit an offer. Yes, get pre approved and your offer will more than likely be accepted first.
The good news are buyers are out there taking advantage of great rates, sellers are more realistic in their pricing but are not going to put up with hiccups that delay a closing.
Sales are better but the market is still slowly going forward.
Take a look at the chart below, this data is for West Plano - MLS Area 20-1 and will give you a good look into your local real estate activity. Results are against June of 2011.
- Median Sale Price $472K +6.4%
- Avg List Price $591,155. +8.6%
- Avg Price Per Sq Ft $137. - 4.7%
- Days on Market 82 -6.5
- % Orig Price 94% +14.28%
- Month Supply 6.9 -26.7%
- Homes for Sale 285 -21.5%
- New Listings 77 -19.8%
- Pending 44 -8.3%
- Closed 76 + 33.3%
Any questions, or to look at your neighborhood more closely let us know. We're here to help!