The December 2012 housing reports released by Collin County Association of Realtors this week hold some good news for sellers in Plano. Consider these statistics comparing December 2012 to December 2011:
·Number of days on market before sale decreased to 66 (down from 102 days in 2011)
·The inventory of homes for sale decreased to 564 (down from 836 in 2011)
·The months of inventory available decreased to 1.9 months (down from 3.4 months in 2011)
·The number of listings under contract increased to 197 (up from 168 in 2011)
·The percentage of original list price received increased to 95.2% (up from 93% in 2011)
The not so good news for Plano sellers is that the average sales price declined a bit to $257,788. This is down 1.5% from $261,603 in December 2011. And the median sales price in Plano was down to $208,000 in December 2012 (down 0.5% from $209,000 in 2011). However, when you weigh that against the number of days on market it may not be all bad. Factor in the hold costs of a home selling 36 days quicker...1 less month of mortgage, taxes, insurance and utilities payments along with other expenses such as HOA dues, lawn maintenance, security system, etc.
For buyers wishing to purchase in Plano these statistics provide important implications. Buyers need to be prepared to move quickly (ie – know what you're looking for, be prequalified for a mortgage) and the most successful offers will likely be close to if not at or above asking price depending on the location and condition of the property. For several months now we’ve been seeing multiple offers and quick sales for “hot” properties that are updated and market priced.
With interest rates what they are these days it's a good time to buy or sell. If you're considering either, call me.
Sandy Setliff is a Realtor® with JP and Associates Realtors®. She specializes in residential real estate sales in Collin and Denton Counties. She can be reached at 214 620 1615/cell, 972 375 9448/office or via email at email@example.com.
Author:Sandy Setliff Phone: 214-620-1615 Dated: January 22nd 2013 Views: 2,528 About Sandy: Sandy Setliff, a longtime resident of North Texas, specializes in residential real estate sales in N...
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