Plano Market Update - October 2021

MARKET HIGHLIGHTS:

• Median Sold Price: $450,000 (3 months stable)

  • West Plano: $590,000

  • Central Plano: $429,000

  • East Plano: $350,000

• Homes Sold: 261

• Sold to List Ratio: 101.4%

• Median Days on Market: 8 days

• Current Inventory: 188 homes (0.7 months supply)

• Homes at/Above Asking: 70%

Plano's September market showed 261 sales—down slightly from August but consistent with prior years — while the median price held at $450,000 for the third consecutive month, signaling price stabilization after spring's dramatic acceleration. The sold-to-list ratio cooled to 101.4% from earlier highs of 105-107%, though 70% of homes still sold at or above asking. Days on market at were 8, meaning most homes contracted within a week, down from the instant frenzy of spring.

Inventory climbed modestly to 188 homes (0.7 months supply)—still severely constrained but inching upward in tenths each month. The broader DFW market reached 0.9 months, showing Plano remained tighter. Entry-level price points faced maximum pressure, while high-end and luxury segments showed the first signs of wiggle room. East Plano's 102.7% sold-to-list ratio demonstrated the intense entry-level demand.

For Plano home buyers entering Q4, the chaos was moderating but expectations needed recalibration—the top 25% of homes still sold in 4 days or less, requiring decisiveness, strong financing preparation, and flexibility on location and features.

For Plano home sellers, while the frenzy cooled, strategic positioning remained critical: the top 25% captured 5%+ premiums and top 10% reached 10%+ through excellent preparation and smart pricing, while lazy sellers risked extended timelines.

The Fall 2021 market is finding equilibrium but competition remains. Ready to compete and win? Let's create your Q4 strategy →