Plano Market Update - February 2022

MARKET HIGHLIGHTS:

• Median Sold Price: $467,700

• West Plano: $727,500

• Central Plano: $450,000

• East Plano: $367,000

• Homes Sold: 152 (lowest volume seen)

• Sold to List Ratio: 102%

• Median Days on Market: 7.5 days

• Current Inventory: 48 homes

Plano's January market showed the lowest sales volume in recent memory with just 152 homes sold—not from lack of demand but from severe inventory shortage as buyers immediately snatched up any new listing. Despite low volume, the median price surged to $467,700, just shy of 2021's annual peak, demonstrating strong upward price pressure. With only 48 homes available entering February—even fewer than January's 59—the supply crisis is intensifying.

The 102% sold-to-list ratio and 7.5-day median absorption showed buyers continued bidding aggressively. Central Plano led with the highest competition at 104% sold-to-list and 6-day absorption, while West Plano's luxury segment showed slightly longer 11-12 day timelines but similar bidding intensity at list price. The "under $250K" price point was effectively disappearing from the market as appreciation pushed inventory upward.

For Plano home buyers, the perspective shift was critical: viewing this as a buyer's market where purchasing now meant securing appreciation over the next 2-4 years, as those who bought in 2021 are already realizing significant equity gains.

For Plano home sellers, the opportunity was extraordinary with minimal competition and leverage to secure ideal terms—waiting for spring would likely mean more competition and potentially less favorable positioning than the current monopoly-like conditions.

Don't get left behind in 2022's competitive market. Let's discuss your buying or selling strategy today →