Plano Market Update - March 2022
Plano > Market Intelligence > Plano Market Update - March 2022MARKET HIGHLIGHTS:
Homes Sold: 176 transactions
Median Sold Price: $540,000
Sold to List Ratio: 110%
Average Days on Market: 5 days
Inventory: 102 homes
Plano's March market delivered another stunning record with the median price hitting $540,000 - reaching the $500Ks earlier than anticipated. Volume improved to 176 sales as more listings came to market, and buyers met them with extraordinary aggression: a 110% median sold-to-list ratio meant half of all homes sold for 10% or more above asking. With 285 homes currently under contract, April's sales are projected to show similar or higher volume.
The 5-day median days on market (and 12-day average) demonstrate the dual market reality: exceptional homes sell in days while unique or expensive properties take longer, pulling the average up. Central Plano led competition with 110% sold-to-list and 4-day absorption, while all three regions showed intense bidding. Inventory climbed to 102 homes—welcome news for buyers gaining more choices, though still representing less than a month of supply across most price points.
For Plano home buyers, the improved inventory is encouraging but competition remains fierce—getting clear on your financing and cash position before shopping is essential. Consider this: to bid 10% over in this environment, buyers need a $50K cash cushion on Plano homes that are now over $500K!
For Plano home sellers entering spring, more competition means the importance of preparation is paramount, with the opportunity for top-tier homes to capture 15-22% premiums, showing that $75K-$110K in extra profits await those who invest in presentation and strategic pricing.
Spring inventory is climbing but so is competition. Ready to make your move? Let's create your winning strategy →
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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