Plano Market Update - June 2023
Plano > Market Intelligence > Plano Market Update - June 2023MARKET HIGHLIGHTS:
Homes Sold: 206 transactions
Median Sold Price: $560,000
Price Change YTD: +9.7%
Sold to List Ratio: 100.20%
Average Days on Market: 8 days
Homes Sold Above Asking: ~65%
Inventory: 1.3 months supply
Plano's June market delivered the strongest sales volume this year with 206 homes sold, and the median price climbed to $560,000—a $15,000 jump from May. With just 1.3 months of supply and half of all homes selling within a week, the market remains firmly in seller territory. Year-to-date, prices are up 9.7%, though seasonal patterns suggest this pace will moderate toward 5-6% by year's end.
The supply-demand imbalance continue driving competition, with 65% of sellers receiving their asking price or more. Multiple offers remain prevalent, and negotiability is minimal—only one in three buyers paid below asking, typically just 1-2% less. Days on market held at 8 days, though this metric appears poised to climb as the year progresses.
For Plano home buyers, the question is "what are you waiting for?" With limited negotiability and persistent competition, waiting for major rate or price drops risks getting priced out of the market entirely.
For Plano home sellers, conditions are optimal with minimal competition, however success requires strong presentation and smart pricing as buyers are willing to pass on homes that don’t offer high perceived value.
Wondering how rising home sales impacts your goals? Let's connect →
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 →
