Plano Market Update - March 2022

MARKET HIGHLIGHTS:

• Median Sold Price: $472,200 (new record)

• West Plano: $685,000

• Central Plano: $473,600

• East Plano: $340,500

• Homes Sold: 125

• Sold to List Ratio: 106.7% (median)

• 113%+ (top 25%)

• Homes At or Above Asking: 80%

• Median Days on Market: 5 days

• Current Inventory: 59 homes

Plano's February market set a new median price record at $472,200 despite historically low sales volume of just 125 homes—a direct result of sellers simply not listing. The inventory shortage drove unprecedented bidding wars with a median sold-to-list ratio of 106.7%, meaning half of all homes sold for 7% or more above asking. The top quartile commanded 13%+ premiums, translating to $50,000-$120,000 in additional profits for well-presented homes.

Competition reached fever pitch with 80% of homes selling above their original list price and median absorption at just 5 days—essentially the logistical minimum for real estate transactions. All three regions of Plano showed similar bidding intensity, with central Plano leading at 109% sold-to-list on its $473,600 median. With only 59 homes available across all price points, the constrained inventory showed no signs of easing.

For Plano home buyers entering spring 2022, realistic expectations were critical—waiting for price drops or rate decreases would likely result in even higher costs as homes at the current $470K median would likely reach $500K-$580K within the year at 1.5% higher rates.

For Plano home sellers, the window for maximum advantage was narrowing as spring would bring more competition—listing immediately with strategic pricing and excellent presentation could capture premiums of 13%+ that sellers who waited might not achieve.

Spring 2022 is here and competition is intensifying. Ready to position yourself for success? Let's talk strategy →