Plano Market Update - July 2021

MARKET HIGHLIGHTS:

• Median Sold Price: $450,000 - new high!

• Homes Sold: 328

• Sold to List Ratio: 104%

• Median Days on Market: 5 days

• Current Inventory: 190 homes (~2 weeks supply)

• First Half of 2021: 

• 1,449 sold (+19% YoY)

• $430K median

Plano's June market delivered 328 sales—the most in several years—while the median price reached a new high of $450,000, up from May and representing approximately $70,000 appreciation since December 2020. The 104% sold-to-list ratio showed buyers bidding 4%+ above asking with fierce competition, and the 5-day median absorption demonstrated homes vanishing within a week. First-half 2021 totals reached 1,449 sales (up 19% year-over-year) at a $430K median, marking a fantastic seller's market.

Inventory remained severely constrained at just 190 homes (two weeks of supply), though each month saw slightly more listings than sales, suggesting slow incremental improvement. The top quartile of homes commanded 7-10% premiums above asking, while poorly positioned listings began seeing price reductions—a signal that preparation and strategy now mattered more than simply listing in the hot market.

For Plano home buyers in summer 2021, slightly more inventory than spring offered marginal improvement in choices, but fierce competition persisted: financing preparation, budget clarity, and decisiveness remained essential, with flexibility on location and features helping navigate the constrained market.

For Plano home sellers, the phenomenal environment still favored well-prepared properties: top homes captured 7-10% premiums ($30K-$45K on median), but success increasingly required excellent presentation and smart pricing as buyers became slightly more selective than spring's anything-goes frenzy.

Summer 2021 is hitting new highs with record homes sold. Ready to maximize this phenomenal market? Let's connect →