Plano Market Update - March 2021
Plano > Market Intelligence > Plano Market Update - March 2021MARKET HIGHLIGHTS:
Homes Sold: 249 transactions
Median Sold Price: $410,000
Price Change YTD: +16%
Sold to List Ratio: 101.90%
Average Days on Market: 5 days
Homes Sold Above Asking: ~75%
Inventory: 88 homes
Plano's March market delivered 249 sales—matching March 2020—while the median price surged to $410,000, up 16% year-over-year in extraordinary appreciation. The 102% median sold-to-list ratio showed buyers paying list or more, with 75% of homes selling at or above asking. The top quartile commanded 106% and the top 10% reached 109%—meaning the most desirable homes attracted bidding wars 9-10% above asking prices, translating to $35K-$40K premiums.
With only 88 homes available (0.4 months supply—less than two weeks), the inventory “crisis” has reached extreme levels across all price points, creating a "super seller's market." Homes sold in 5 days median with negotiability essentially zero for the first month on market. The dramatic contrast to pandemic-uncertain April 2020 shows how rapidly the market has transformed into an insanely strong environment.
For Plano home buyers in spring 2021, preparation is non-negotiable: complete financing readiness, clear understanding of cash available for overbidding, and mental preparation for 9-10% premiums on top homes—shopping under budget provides bidding room when competing against aggressive offers.
For Plano home sellers, while tempting to be lazy in the strong market, strategic preparation separated good outcomes from extraordinary: the top 10% of sellers capturing 9% premiums… meaning $40K+ in additional profits through excellent presentation, smart pricing, and quality marketing.
Spring 2021 is bringing unprecedented market strength. Buyers need strategy, sellers can capture extraordinary premiums. Let's discuss your game plan →
Note: This 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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