Plano, TX home prices and housing market

Plano sellers are still asking prices this market stopped paying a year ago. The typical Plano home is now worth about five hundred fifty-eight thousand dollars, down roughly 5.4 percent over the past year. But the median list price sits near six hundred sixteen thousand dollars, a gap of almost sixty thousand dollars between what sellers want and what homes are actually valued at. That gap explains everything else. About 770 homes are for sale right now, and the typical listing takes 43 days to move, so buyers have time to be picky. The result is that more than a quarter of active listings, about 26.7 percent, have already cut their price, even with 382 fresh listings hitting the market this month. If you are selling in Plano right now, the homes that sell are the ones priced where values actually are, not where they were last year. Price to today's market and you will likely move in about six weeks. Aim for last year's number and expect to sit, then cut.