Located 20 miles north of Dallas' downtown, Plano, Texas was once hailed as an "All-America City" by the National Civic League and Allstate Foundation in 1994 and a "Best City for Women," by the Ladies Home Journal in 2000 but the city has been in a housing funk due to mass layoffs because of tech-wreck. But now, local Realtors say the city is slowly pulling out of it.
"In the booming metropolis we call Plano," says Realtor Blake Eltis, "homes are in all price levels, we have great shopping and an award-winning school district."
"The Dallas area's unusual rain has stopped, and the temperature is hot," he says. "The Dallas real estate market is hot, too. The housing market in Dallas is on the rise back up. Homes are being listed and sold everyday. Homes in good condition and in prime locations are selling fast. There is a large supply of homes on the market. Although interest rates have risen, they still remain at a 30-year low. Now is a good time to buy. Do your homework, learn the neighborhoods that interest you, and offer a fair price. There are still deals out there to be had."
"The market for Plano really depends upon the area you are looking," explains Realtor Chris Harden. "While there are a lot of homes still on the market, they tend to sell within 97 percent of their list price for homes under $250,000 and contract relatively quickly. Upper-priced homes are still slow to sell but the market for these properties is coming around and have shown an increase in sales over last year. Interest rates have leveled off back under 6 percent after the Fed raised rates a 1/4 point. First quarter numbers were released and home sales in Plano were down 9 percent from last year."
"For the month of June in Plano we saw a small decline in the number of sales and an accompanying decline in the number of active listings," says Realtor Marie Walton. "There was also an increase in the average sale price indicating more sales in the upper price range. If you have been thinking about buying a home, now is a good time to do it. Interest rates have been rising, but are still at very good levels and there is a large supply of homes on the market to choose from."