Plano Market Update - May 2021

MARKET HIGHLIGHTS:

• Median Sold Price: $430,000 (+$30K from March)

• Homes Sold: 282 (double April 2020)

• Sold to List Ratio: 105%

• Median Days on Market: 5 days

• Current Inventory: ~170 homes (<2 weeks supply)

Plano's April market delivered 282 sales—double April 2020's pandemic-affected volume—while the median price surged $30,000 to $430,000, breaking records month after month. The extraordinary 105% sold-to-list ratio meant half of all homes sold for 5%+ above asking (up from prior months), and the 5-day median absorption showed homes vanishing immediately. Entry-level and move-up price ranges remained especially tight with buyers facing almost zero negotiability.

With only ~170 homes available (less than two weeks of supply vs. 4-5x that historically), the inventory crisis drove the scorching market dynamics. The top homes commanded 8-10% premiums as bidding wars dominated, particularly at entry-level price points. Spring 2021 represented potentially the best seller's market seen, with minimal competition and maximum demand creating extraordinary opportunities.

For Plano home buyers in spring 2021, success required complete preparation: financing lined up, cash position clear, flexibility on location and features, decisiveness to act within days, and shopping under budget to afford overbidding—with 7,000 monthly DFW buyers competing, hesitation meant losing.

For Plano home sellers, the market offered unprecedented leverage: well-presented homes with smart pricing captured 8-10% premiums ($35K-$43K on median homes), making preparation worthwhile, while the timing favored immediate listing before anticipated spring inventory increased competition.

Spring 2021's market is unprecedented. Buyers need a smart strategy, sellers can capture record premiums. Ready to make your move? Let's talk →