75025 in Plano Texas continues to see a steady rise in days on market and the months supply of available homes.
Days on Market:
Months Supply of Housing:
The National Association of REALTORS® considers a 6 month supply of housing to be a balanced market. Areas with supplies under 6 months are a seller’s market, and supplies over 6 months are a buyer’s market. So while both have continued to rise, the market remains relatively balanced.
The good news is that the sales price per square foot has risen considerably since January 2010 and is only slightly below January 2007.
Sales Price per Square Foot:
As we enter into the winter months (typically a slower sales period), I expect we will see these trends continue until early 2012. While mortgage interest rates remain at all-time lows and Plano has a stable economy, it appears that both conventional and investor buyers are taking a “wait and see” approach to home buying.
Data Source: NTREIS on October 30, 2011
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