Home > Local Real Estate Markets > Plano TX November 2009 Homes Sales Market Report

Plano TX reported 217 homes sold in November 2009. These numbers include single-family homes, condos, duplexes and townhomes.

* Note: The data below is considered accurate for real estate property types listed above for Plano TX encompassing MLS areas 55 (city of Plano) and 20 on the local NTREIS MLS data.

January: 146 Plano TX homes SOLD
February: 172 Plano TX homes SOLD
March: 208 Plano TX homes SOLD
April: 213 Plano TX homes SOLD
May: 267 Plano TX homes SOLD
June: 318 Plano TX homes SOLD
July:  309 Plano TX homes SOLD
August: 292 Plano TX homes SOLD
September: 259 Plano TX homes SOLD
October: 254 Plano TX homes SOLD

November 2009: 217 Plano TX sold homes
for $53,371,454

Plano TX November 2009 Homes Sale Market Report:

The November 2009 numbers outperformed 45% better than November 2008. However, for the year (2009), Plano TX sold 3,571 homes while in 2008, it sold 4,021 by this time of the year. In all price brackets, there were improvements in the number of homes sold, especially less than $400,000. The price per square feet was reduced, but the homes did not stay on the market as long.

Although the SOLD numbers saw significant improvements, the PENDING CONTRACTS especially on the lower-end markets (less than $300K) were less promising. This will lead to a prediction that most of these which should close in December will close out the December numbers not as good as November's. The mid-tier ($500K and up) numbers stayed where they were, but the decrease was in the lower-end tier ($300K or less).

Market Absorption rate is currently at 17 weeks, just over 4 months. Based on November numbers, Plano TX is considered as a Seller's Market.

Currently, Plano TX has 873 homes available for purchase. The lowest priced property is a 1-bedroom, 1-bathroom condominium off Amelia Court at Park Bluff, priced at $64,500 (a 1-bedroom and 1 bathroom). The most expensive home is a custom built home, 6-bedrooms, 6 full bathrooms, 3 half baths, over 10,000 square foot with a guest house spanning over 3/4 acres for $4.85 Million located in Willow Bend Country.

Comparison:

The lowest priced home sold for $65,000 (3-bedrooms, 1-bathroom property, 1,000 square feet). An investor's or handyman special, REO bank-owned property which 6 days to sell this property.

The highest priced home sold for just over $1.5 million (5-bedroom, 6 full bathrooms and 1 half bath, approximately 6,500 square feet) at Creeks at Willow Bend 75093. This is a stately property with Romanesque columns that greet you as you walk up. Swimming pool in courtyard style backyard, wall murals, gourmet kitchen and majestic master bedroom. It took 246 days to sell. 

The average home in Plano Texas is 4-bedroom, 3 bathrooms, just over 2,500 square feet and sold for $245,951 in 55 days on the market.

I think it is important to study the days on market for the homes sold. As a buyer, you will understand the "limits" of your negotiation power in general and as a seller, it is important to know the pricing correctly gives you the greatest chance to sell your home.

These numbers were generated from the Local MLS NTREIS board for November 2009:

If in-depth analysis is your domain, check out the breakdown of price ranges of the Plano TX home activities:
DOM is number of days the house is on the market.
Market Data is deemed correct as of 11/30/2009.

Less than $100,000:
SOLD = 13 homes; (35 days on market, $69/sq.ft.)
Under Contract = 15 homes; DOM = 34 days
AVAILABLE = 15 homes; DOM = 34 days

$100,001 - $200,000:
SOLD = 104 homes (51 days on market, $87/sq.ft.)
Under Contract =75 homes; DOM = 79 days
AVAILABLE = 237 homes; DOM = 91 days

$200,001 - $300,000:
SOLD = 61 homes (49 days on market, $88/sq.ft.)
Under Contract = 43 homes; DOM = 90 days
AVAILABLE = 196 homes; DOM = 101 days 

$300,001 - $400,000:
SOLD = 21 homes (53 days on market, $98/sq.ft.)
Under Contract = 13 homes; DOM = 85
AVAILABLE = 118 homes; DOM = 111 days  

$400,001 - $500,000:
SOLD = 4 homes (67 days on market, $117/sq.ft.)
Under Contract = 5 homes; DOM = 173 days
AVAILABLE = 157 homes; DOM = 95 days

$500,001 - $600,000:
SOLD = 3 homes (113 days on market, $128/sq.ft.)
Under Contract = 3 homes; DOM = 177 days
AVAILABLE = 29 homes; DOM = 184 days

$600,001 - $700,000:
SOLD = 5 homes (74 days on market, $149/sq.ft.)
Under Contract = 2 homes; DOM = 231 days
AVAILABLE = 26 homes; DOM = 150 days 

$700,001 - $800,000:
SOLD = 1 home (196 days on market, $163/sq.ft.)
Under Contract = 1 home; DOM = 154 days
AVAILABLE = 18 homes; DOM = 144 days

$800,001 - $900,000:
SOLD = 1 home (26 days on market, $176/sq.ft.)
Under Contract = NONE
AVAILABLE = 15 homes; DOM = 204 days  

$900,001 - $1,000,000:
SOLD = 1 home (135 days on market, $164/sq.ft.)
Under Contract = 2 homes; DOM = 156 days
AVAILABLE = 13 homes; DOM = 206 days 

Over $1 Million:
SOLD = 3 homes (243 days on market, $221/sq.ft.)
Under Contract = 3 homes; DOM = 357 day
AVAILABLE = 47 homes; DOM = 296 days

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