Plano Market Update - February 2023
Plano > Market Intelligence > Plano Market Update - February 2023MARKET HIGHLIGHTS:
Homes Sold: 164 transactions
Median Sold Price: $534,000
Price Change YTD: +15%
Sold to List Ratio: 98.7% (below 100%)
Average Days on Market: 25 days
Inventory: 0.75 months supply
Plano's February market demonstrated remarkable price resilience with the median reaching $534,000—up 15% year-over-year despite national headlines predicting crashes. With 164 homes sold and only 119 properties available as March begins, the market is operating with just three weeks of supply. This scarcity maintains strong seller positioning across all price points, including the luxury segment which had softened in recent months.
The sold-to-list ratio of 99% shows sellers capturing nearly full asking price, and homes are selling faster than earlier in the year at 24 days on market—a trend expected to accelerate as spring progresses. The top-tier homes are seeing bidding wars resurface, with some properties commanding 3% premiums above asking as buyers recognize quality presentation and strategic pricing.
For Plano home buyers, your strategy requires financing preparation and realistic expectations about bringing extra cash to compete on desirable properties. While not matching 2022's extremes, the best homes still attract multiple offers.
For Plano home sellers, the opportunity is clear with minimal competition, there is a premium pricing environment but only for homes that look great and present as move-in ready. Buyers are increasingly discerning after watching both prices and mortgage rates climb.
Want to understand how February’s price jump sets up this year? Let's discuss →
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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