Plano Market Update - April 2022

MARKET HIGHLIGHTS:

• Median Sold Price: $529,000 - new record!

• West Plano: $720,000

• Central Plano: $502,500

• East Plano: $385,000

• Homes Sold: 165

• Sold to List Ratio: 110%

• Median Days on Market: 5 days

• Current Inventory: 102 homes

• Pending/Under Contract: 285 homes

Plano's March market delivered another stunning record with the median price hitting $529,000—reaching the $500Ks earlier than anticipated in the year. Volume improved to 165 sales as more listings came to market, and buyers met them with extraordinary aggression: a 110% median sold-to-list ratio meant half of all homes sold for 10% or more above asking. With 285 homes currently under contract, April's sales were projected to show similar or higher volume.

The 5-day median days on market (and 12-day average) demonstrated the dual market reality: exceptional homes sold in days while unique or expensive properties took longer, pulling the average up. Central Plano led competition with 110% sold-to-list and 4-day absorption, while all three regions showed intense bidding. Inventory climbed to 102 homes—welcome news for buyers gaining more choices, though still representing less than a month of supply across most price points.

For Plano home buyers, the improved inventory was encouraging but competition remains fierce—getting clear on financing and cash position before shopping is essential, with budgets needing $50K+ cushions to bid on $500K homes given the 10%+ overbid environment.

For Plano home sellers entering spring, more competition means the importance of preparation is paramount—top-tier homes capture 15-22% premiums, showing that $75K-$110K in extra profits could await those who invest in presentation and strategic pricing.

Spring inventory is climbing but so is competition. Ready to make your move? Let's create your winning strategy →