Plano Market Update - July 2021
Plano > Market Intelligence > Plano Market Update - July 2021MARKET HIGHLIGHTS:
Homes Sold: 347 transactions
Median Sold Price: $450,000
Sold to List Ratio: 103.90%
Median Days on Market: 6 days
Inventory: 200 homes
Plano's July market delivered a record 347 sales—the highest single-month transaction volume in recent memory—while the median price held at $450,000, keeping prices had stable after spring's dramatic acceleration. The 104% sold-to-list ratio shows buyers are still bidding 4% above asking, though down from spring's 105-107% peaks, and the 6-day median absorption demonstrates homes still vanish 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 inventory additions exceeding sales. If this pattern continues into fall, reaching one month of supply becomes plausible. This frenzied ultra-competitive environment shows the first signs of moderating, though still remains extraordinarily strong by historical standards.
For Plano home buyers in late summer, this environment offers slightly less insanity than spring—a few more choices, less overbidding—but preparation and decisiveness remain critical as top homes still attract aggressive competition requiring ready financing and flexibility.
For Plano home sellers, while not as extreme as spring, the market remains phenomenally strong: well-prepared homes with smart pricing still capture 7-10% premiums, but increasing price reductions on poorly positioned listings signal that preparation and strategy now matter more than simply listing.
Summer 2021 showing record volume but signs of moderation. Ready to capitalize before fall? Let's discuss your 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.
________________________________________________________
More Plano Market Coverage
Search Homes for Sale in Plano →
