Plano Market Update - April 2023
Plano > Market Intelligence > Plano Market Update - April 2023MARKET HIGHLIGHTS:
Homes Sold: 188 transactions
Median Sold Price: $527,500
Sold to List Ratio: 100.30%
Average Days on Market: 8 days
Homes Sold Above Asking: ~65%
Inventory: 0.9 months supply
Plano's April market showed constrained inventory driving continued competition with just 188 single-family homes sold. Despite lower transaction volume, the median price held strong at $527,500, continuing 2023's upward trend as prices are consistently rising each month. At 0.9 months of supply—lower than the broader DFW market—Plano remains a premium marketplace where demand significantly outpaces available homes.
Multiple offers returned in force in April, with 65% of homes selling at or above asking price. The top quartile commanded 103% of list price, while the top 10% reached 108% or higher, clear evidence of bidding wars on well-presented properties. Homes moved quickly at a median of 8 days on market. However, buyers in 2023 continue to be pickier than recent spring real estate markets—with higher prices and rates, they are willing to pass on homes that don’t present strong value.
For Plano home buyers, realistic expectations are critical, only one third of buyers successfully negotiated below asking, and not by much. Success requires preparation and strategy in a market that still heavily favors sellers.
For Plano home sellers, the opportunity is significant with minimal competition, but success requires that homes look great and be priced strategically since buyers at higher rates and prices expect move-in ready condition.
Wondering how spring 2023's tight inventory will evolve this year? Let's discuss the market’s trajectory →
Note: The video market update was prepared with the most current data available at the time of filming. This post has been updated to reflect finalized historical data.
________________________________________________________
More Plano Market Coverage
Search Homes for Sale in Plano →
