I just posted the results of the Market Breakdown for Richardson, TX. I thought it would be interesting to compare Richardson to Plano, TX. Plano is the next city North, and many people compare the two cities all the time for school districts and neighborhoods. Growing up in Richardson, I'm a little biased to the comparison, however, I am currently in Collin County and not Dallas County which means BabyHarris will go to Plano Schools, so the comparison is very important.
If I use the same categories as I did on Richardson, here is the breakdown for Plano.
Original List Price: $270,812.97
Reduced Price: $267,734.98
Sales Price: $260,827.72
List Vs Sales: 96.31%
Original List Price: $294,539.66
Reduced Price: $263,134.19
Sales Price: $256,004.48
List Vs Sales: 86.92%
WOW!! Look at those numbers. Last year, Plano was selling at over 96% of asking price. This year, they're selling almost 87% of asking price. What happened? As you can see, houses are still selling at about the same price as last year, however, Plano has already been one of those "dreaming" cities that think they should get a million dollars for their $100k house. With that, the sellers listed WAYYY too high, but agents that "let" them list too high, but overall, the market will still dictate what the houses are worth.
Again, you can't look just at these numbers as they don't tell the full story. Other numbers you need to know are that the average days on the market last year was 61 days, and this year, the average is ONLY 58 days on the market. These Plano sellers aren't taking too long to figure out that they're overpriced. They're selling in UNDER 2 months!!
To me, that's still a very strong market!! If you have a house on the market longer than a couple of months in the Plano area, you need to reevaluation your goals. Are your goals to continue to allow people to endlessly walk throught your house for weeks and months to come... or is your goal to SELL your house and move on with your life and a brand new start in your new home??
Remember, I work all of North Dallas County and Collin County including Richardson, Plano, Allen, Frisco, Carrollton, Garland, Rowlett, McKinney, etc... my car will take us anywhere you need to go!!
ARE YOU PACKED YET?!