Plano Market Update - June 2022
Plano > Market Intelligence > Plano Market Update - June 2022MARKET HIGHLIGHTS:
Homes Sold: 268 transactions
Median Sold Price: $563,750
Price Change YTD: +22.3%
Sold to List Ratio: 105.8%
Average Days on Market: 6 days
Inventory: 269 homes
Plano's June market showed the first meaningful signs of shift as the median price pulled back to $563,750 from May's $585,000—though still representing 22.3% appreciation year-over-year from $470,000 in July 2021. Volume held at 268 sales while inventory nearly doubled to 269 homes entering July, creating the perception of dramatic change though still representing less than one month of supply across most price points. The sold-to-list ratio cooled to 1067% from earlier highs of 109-111%.
About one-third of current listings have reduced prices, though institutional sellers and builders accounted for a significant portion of these reductions. The 6-day median absorption and 107% sold-to-list shows that the market remains competitive, just less frenzied than spring's peak. All three Plano regions show similar patterns, with East Plano commanding the highest bidding at 108% sold-to-list. The shift felt dramatic compared to the extreme seller's market of prior months, but Plano’s housing market remains historically strong.
For Plano home buyers in summer 2022, more choices and cooling competition offer the first breathing room in years, though top homes still attract multiple offers and require competitive strategies.
For Plano home sellers, the recalibration is real—listings need excellent presentation, smart pricing, and strong marketing plans rather than simply "put a sign in yard and pray". Properly positioned homes still command premiums as the market remains fundamentally supply-constrained.
Summer 2022's shifting market requires new strategies. Whether buying or selling, let's discuss how to navigate these changes →
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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