Plano Market Update - February 2022
Plano > Market Intelligence > Plano Market Update - February 2022MARKET HIGHLIGHTS:
Homes Sold: 132 transactions
Median Sold Price: $462,950
Sold to List Ratio: 106.6%
Median Days on Market: 5 days
Homes Sold Above Asking: ~80%
Inventory: 59 homes
Plano's February market saw more strong prices, with the median at $462,950 despite historically low sales volume of just 132 homes—a direct result of sellers simply not listing. The inventory shortage drove unprecedented bidding wars with a median sold-to-list ratio of 107%, meaning half of all homes sold for 7% or more above asking. The top quartile commanded 13%+ premiums, translating to $50,000-$120,000 in additional profits for well-presented homes.
Competition reached fever pitch with 80% of homes selling above their original list price and median absorption at just 5 days—essentially the logistical minimum for real estate transactions. All three regions of Plano showed similar bidding intensity, with central Plano leading at 109% sold-to-list. With only 59 homes available across all price points, the constrained inventory shows no sign of easing.
For Plano home buyers entering spring 2022, realistic expectations are critical: waiting for price drops or rate decreases will likely result in even higher costs as homes at the current $460K median will likely climb higher due to extremly limited inventory and the consistent bidding up of homes.
For Plano home sellers, the window for maximum advantage is narrowing as spring typically brings more competition. Sellers who are listings now are capturing premiums of 13%+ and preferred terms that sellers who wait may not achieve.
Spring 2022 is here and competition is intensifying. Ready to position yourself for success? Let's talk strategy →
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.
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