Plano residential prices dropped 5.1% for 2009…from an average of $266,000 to $253,000.  This drop of 5.1% compares to Frisco’s 7.6% decline; Prosper down 2.6 and McKinney down only 1.2%.  Plano median sales price is now $210,000 down from 3.1% from last year’s $217,000.  For all of 2009, there were 3109 homes sold in Plano half of which were sold below the mean price of $210,000 and half of which were sold for more than $210,000. Plano is the  highest populated city in Collin County by far at around 275,000 compared to McKinney’s 130,000 and Frisco’s 102,000.

On the brighter side of things, Plano’s inventory of homes( listings) dropped from 1178 at the end of 2008 to 978 at end of 2009.  This is a good sign that indicates a transition from a buyers market to a normal market scenario.  By dividing the inventory of 978 by the number of sales in the most recent  month( Dec.) 229 we come up with a monthly supply of 4.3 months.  Normal is between 4 and 6 months.  Last year at this time the absorption rate was 6.5 months which tilts toward a buyers market.  This is good news for Plano home owners that want to sell their homes or just want to stay put

Moreover, the DOM(days on market) average for 2009 came down from 87 to 82.  Plano home sellers obtained an average of 94.4% of their listing prices.  According to today’s Dallas Morning News, the metroplex prices for 2009 were all over the place.  For example, the Park Cities were down well over 10% as was east and north Dallas.

 Plano Tx Homes for Sale                          Prosper Tx Homes for Sale

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