Plano Market Update - June 2022

MARKET HIGHLIGHTS:

• Median Sold Price: $585,000 - new record!

  • West Plano: $735,000

  • Central Plano: $551,250

  • East Plano: $425,000

• Homes Sold: 237 - down from May 2021

• Sold to List Ratio: 109%

• Median Days on Market: 5 days

• Current Inventory: 155 homes (+20 from April)

• Pending/Under Contract: 308 homes

Plano's May market pushed the record median to $585,000—up from $439,000 just one year prior, representing nearly $150,000 in appreciation and extraordinary wealth building for homeowners. While 237 homes sold (up from April but down from May 2021), the decline reflected supply constraints rather than demand weakness, as the 109% sold-to-list ratio showed buyers continued bidding aggressively. With 308 homes pending, June projected similar closed sales volume.

Market shift conversations intensify as rates rises became part of buyer’s consciousness and available inventory climbed to 155 homes (+20 from April), creating a perception of more choices. However, at still less than one month of supply across mainstream price points, the fundamentals favor sellers. The timing also reflects seasonal patterns—families pausing searches as school ends and vacations begin. Central Plano led bidding at 111% sold-to-list on its $551K median.

For Plano home buyers, the improved inventory is welcome but maintaining competitive strategies remains essential—top homes still sell in days with multiple offers, and waiting for a crash risks missing the current opportunity as rates and prices both continue climbing.

For Plano home sellers, the message is steady: don't change plans based on noise—with homes still scarce, well-presented properties partnered with great agents continue capturing significant premiums, and the long-term trend of $150K annual appreciation validates the strength of the Plano market.

Hearing market shift rumors but seeing record prices? Let's separate fact from fiction and create your summer 2022 game plan →