So far, 2014 has been an interesting year for the Plano, TX real estate market.  The median home price reached a new record in June, and the average price per square foot was the second highest on record.  Marketing times for homes were down to just 24 days as home buyers scrambled to purchase homes during the summer and before the start of the school year in late August.  Although the supply of inventory rose slightly from record-low levels set earlier this year, that did not stop the surge in prices.

Click here for list of up-to-date Dallas area real estate market reports and charts

  • The median home sales price in Plano, TX reached a record high of $275,000 in June of 2014, which was a modest increase of 3.8% from June of last year.  If the supply of homes remains low, median prices could possibly edge higher and set yet another record next month.
  • The average sales price per square foot for homes in Plano was $117/ft in July 2014, up 6.2% from June of 2013 but slightly lower than the record high of $121 set in April of last year.
  • The average days on market for homes in Plano, TX was just 24 days in June of 2014, down over 30% from June of last year and just shy of the seven-year record of 23 days set in May of 2014.  Marketing times continue to decrease because of the limited supply of home inventory in the Plano housing market.
  • Home sellers, on average, received 98.7% of their original list price in June of 2014, which was up 2.9% from June of last year and also a seven-year record high.  The higher percentage is a reflection of the fierce competition among home buyers, with some homes selling in as little as one day on the market with multiple purchase offers.  When a home receives multiple offers, the final sales price will sometimes be higher than the actual list price.
  • The supply of home inventory improved slightly in June from previous months, but remained astonishingly low at just 1.6 months.  To put that in perspective, a “normal” market is considered six to eight months of inventory.  The last time Plano had a supply of homes of at least six months was in July of 2011.  The supply of homes has been less than four months since 2012.  The supply of homes hit a seven-year low in February of 2014 at 1.2 months and has inched up very slightly since then as new listings came on the market during the busy spring buying season.
  • There were 345 pending home sales in June of 2014 in Plano, down over 10% from June of last year.  The lower pending sale total shows just how tight the supply of homes is in the Plano market.  Pending sales are homes that are under contract to sell, have passed the option period deadline but have yet to close.  The vast majority of pending sales will likely end up closing, but some will fall through, most often due to buyer financing issues with their lender.
  • 372 homes sold in Plano in June of 2014, down 3.1% from June of last year and significantly lower than the highs of last year.  The supply of homes continues to be the major driver of home prices in Plano.  There simply aren’t enough homes to meet the constant demand.  And as more companies continue to relocate to the north suburbs, we may see new price records set in the coming months.  The supply of homes typically decreases after the summer ends due to fewer people wanting to put their home on the market during the holidays and winter months and after the start of school, but the flood of people relocating may not slow down anytime soon.

Highlights from the June 2014 real estate market in Plano, TX for June 2014:
Median Sales Price for Homes in Plano, TX for June 2014:

Seven Year Chart of Median Sales Price in Plano, TX:

Average Sold Price per Square Foot in Plano, TX for June 2014:

Seven Year Chart of Average Sold Price per Square Foot:

Average Days on Market for Homes in Plano, TX for June 2014:

Seven Year Chart of Average Days on Market for Homes in Plano, TX:

Average Percentage of Original List Price Received for Homes in Plano, TX for June 2014:

Seven Year Chart of Average Original List Price Received for Homes in Plano, TX:

Supply of Inventory (in Months) for Homes in Plano, TX for June 2014:

Seven Year Chart of Home Inventory Supply (in Months) for Plano, TX:

Homes for Sale (Supply of Active Listings) for Plano, TX for June 2014:

Seven Year Chart of Homes for Sale in Plano, TX:

Pending Home Sales in Plano, TX for June 2014:

Seven Year Chart of Pending Home Sales for Plano, TX:

Closed Home Sales in Plano, TX for June 2014:

Seven Year Chart of Closed Home Sales in Plano, TX:

DISCLAIMER: Powered by 10K Research.  All data provided by NTREIS.  Information deemed reliable but not 100% accurate.

Did you find this information helpful?  Are you looking to purchase or sell a home in Plano?  I would appreciate an opportunity to consult with you about your real estate needs and earn your business.  Please call me any time at (972) 978-3553 or complete the quick contact form below for a prompt response.

First Name:


Last Name:


Email Address:


Phone Number:


Your questions and comments:



Plese type in the 6 digit security code above into the space below to verify your email.

Security Code: