Plano Market Update - February 2021
Plano > Market Intelligence > Plano Market Update - February 2021FEBRUARY 2021 MARKET HIGHLIGHTS:
Homes Sold: 213 transactions
Median Sold Price: $390,000
Price Change YTD: +7%
Sold to List Ratio: 101.00%
Average Days on Market: 7 days
Homes Sold Above Asking: ~65%
Inventory: 81 homes
Plano’s February market delivered 213 sales—matching February 2020—while the median price of $390,000 already showed 7% year-over-year appreciation just two months into 2021. The 101% sold-to-list ratio demonstrated buyers paying above asking, with 65% of homes selling at or above list price. The top 10% of homes commanded 108% of asking, meaning the most desirable properties attracted bidding wars 8%+ above their asking prices. Seven-day median absorption showed half of all homes vanishing within a week.
With only 81 homes available (0.4 months supply - essentially only 10-11 days if there are no new listings), the inventory shortage has created a “super seller’s market” across all price points from entry-level through luxury. The 304 homes currently under contract/pending signal similar March volume ahead, maintaining the strong momentum.
For Plano home buyers in early 2021, aggressive preparation is essential—complete financing readiness, understanding of cash position for overbidding, and mental preparation for moving quickly within days of new listings to compete against other buyers willing to pay premiums.
For Plano home sellers, while the market enabled even unprepared listings to sell, strategic positioning captures extraordinary value: the top tier earn 8% premiums through excellent presentation, smart pricing, and professional marketing, translating to tens of thousands in additional profits.
Early 2021 is showing signs of a “super seller’s market”. Ready to position yourself for success? Let’s create your strategy →
Note: This 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.
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