Plano Market Update - August 2021

MARKET HIGHLIGHTS:

• Median Sold Price: $450,000 (3 months stable)

• Homes Sold: 355 (highest in recent memory)

• Sold to List Ratio: 103%

• Median Days on Market: 6 days

• Current Inventory: 200 homes (~2 weeks supply)

Plano's July market delivered a record 355 sales—the highest single-month volume in recent memory—while the median price held at $450,000 for the third consecutive month, confirming prices had stabilized after spring's dramatic acceleration. The 103% sold-to-list ratio showed buyers still bidding 3% above asking, though down from spring's 105-107% peaks, and the 6-day median absorption demonstrated homes still vanished within a week despite slight moderation.

Inventory held roughly flat at 200 homes (two weeks of supply), maintaining the year's defining constraint though showing signs of incremental monthly additions exceeding sales. If this pattern continued into fall, reaching one month of supply became plausible. The frenzied ultra-competitive environment showed first signs of moderating, though remained extraordinarily strong by historical standards.

For Plano home buyers in late summer, the environment offered marginally less insanity than spring—a few more choices, slightly less overbidding—but preparation and decisiveness remained critical as top homes still attracted aggressive competition requiring ready financing and flexibility.

For Plano home sellers, while not as extreme as spring, the market remained phenomenally strong: well-prepared homes with smart pricing still captured 7-10% premiums, but increasing price reductions on poorly positioned listings signaled that preparation and strategy now mattered more than simply listing.

Summer 2021 showing record volume but signs of moderation. Ready to capitalize before fall? Let's discuss your strategy →