According to the most recent data released by the NTREIS MLS for February 2021, the Plano real estate market is even shorter on inventory than usual.
The Bottom Line
The Plano housing market in February saw a continued slide in available inventory resulting in 69.6% fewer Plano homes for sale then the same time last year. This coupled with the significant winter storms that hit Texas resulted in a 34.1% increase in average Plano home sale prices over February of last year.
We continue to be in a seller’s market for those with Plano real estate for sale as well as all of Collin county TX real estate. Many homes are receiving multiple offers within 1-2 days of being on market and with several homes off the market due to needing repairs from the storms this will likely remain through then next couple months.
Let's Take A Look At The February 2021 Real Estate Market
Stats For Plano TX
New Listings: 166
(Down -43.2% from last year)
Sold Listings: 203
(Down -1.9% from last year)
Total Active Listings: 151
(Down -69.6% from last year)
Avg. Sale Price: $511,684
(Up +34.1% from last year)
List Price vs Sold Price Ratio: 100.7%
(Up +4.5% from last year)
Days on the Market: 7
(Down -75.0% from last year)
Months Supply of Homes: 0.6
(Down -70.0% from last year)
February saw a return to normal with more homes sold than homes being listed for sale. In fact, we saw a 43.2% drop in new listings. This trend has continued since July 2020 causing overall available inventory of Plano homes for sale keeps shrinking. In February, there was only 0.6 months of inventory which is 70% less available Plano homes than the same time last year.
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