Plano Market Update - June 2021

MARKET HIGHLIGHTS:

• Median Sold Price: $440,500

• Homes Sold: 282

• Sold to List Ratio: 105%

• Median Days on Market: 4 days

• Current Inventory: 148 homes (~2 weeks supply)

Plano's May market delivered 282 sales—significantly more than pandemic-affected 2020 though slightly less than 2019—while the median price of $440,500 represented continued appreciation despite a modest pullback from April's $450K (attributed to market volatility in a small sample size). The extraordinary 105% sold-to-list ratio meant buyers were bidding 5%+ above asking, and the 4-day median absorption represented essentially the logistical minimum for real estate transactions.

With just 148 homes available (two weeks of supply)—one-fifth of year-ago inventory—the "super seller's market" dynamics persisted as the defining story of 2021. The inventory crisis drove rapid price increases, instant sales, and dramatic overbidding across all price points. Summer 2021 potentially represented the best time ever to sell with minimal competition and maximum demand.

For Plano home buyers, the market required aggressive preparation and decisiveness—strong financing, cash position clarity, budget flexibility to bid up, and willingness to move immediately on suitable properties as hesitation meant losing to the 8,000+ monthly DFW buyers competing for scarce inventory.

For Plano home sellers, while the market enabled even lazy listings to sell, strategic preparation captured extraordinary premiums: excellent presentation and smart pricing separated top performers selling 8-10%+ above asking.  Those not maximizing this opportunity are leaving tens of thousands on the table.

Summer 2021 may be the best seller's market ever. Buyers, let's strategize to compete and win. Sellers, let's maximize your profits →