Plano Market Update - May 2022

MARKET HIGHLIGHTS:

• Median Sold Price: $560,000 -new record!

• West Plano: $730,000

• Central Plano: $525,000

• East Plano: $500,000

• Homes Sold: 226

• Sold to List Ratio: 111%

• Median Days on Market: 5 days

• Current Inventory: 131 homes (0.6 months supply)

• Pending/Under Contract: 250 homes

Plano's April market delivered another shocking record as the median price exploded to $560,000—up $100,000 from just six months prior. Volume matched April 2021 at 226 sales, suggesting the market was back on track despite inventory constraints. The extraordinary 111% sold-to-list ratio meant half of all homes sold for 11% or more above asking, with 250 homes currently pending suggesting similar May volume ahead.

The dramatic $520K to $560K jump in just two months reflected massive buyer demand combined with aggressive bidding as rising interest rates created urgency to lock in purchases. All three Plano regions showed similar intensity: West at $730K with 110% sold-to-list, Central at $525K with 111%, and East Plano jumping to $500K—a significant increase from earlier months. With only 131 homes available representing 0.6 months of supply - the inventory shortage continues unabated.

For Plano home buyers, the message is urgent—prices are accelerating ($40K/month recently) while rates are rising, making homes increasingly unaffordable and risking being left behind as those who hesitated in earlier this year are already watching their opportunity for equity slip away.

For Plano home sellers, the opportunity remains extraordinary with top-tier homes capturing 17-22% premiums—but rising inventory (131 vs. 59 in January) suggests waiting could mean more competition in the future, making immediate listing the best timing.

Prices jumped $100K in 6 months. Don't get priced out - let's discuss how to position yourself in this rapidly appreciating market →