Plano Market Update - October 2022
Plano > Market Intelligence > Plano Market Update - October 2022MARKET HIGHLIGHTS:
Homes Sold: 204 transactions
Median Sold Price: $500,000
Sold to List Ratio: 100.00%
Average Days on Market: 17 days
Inventory: 355 homes
Plano's October market delivered a surprise as the median price dropped to $500K, with just 204 sales marking reduced volume. However, context is critical: the sold-to-list ratio rebounded to 100% (and half of homes sold at or above asking), and days on market at 17 remains 30% faster than pre-pandemic norms. At 1.9 months of supply, the market technically remains seller-favorable despite headlines suggesting otherwise.
The pricing story requires nuance—the drop to $500K reflects fewer luxury sales pulling down the median rather than actual value erosion in mainstream segments. Sales activity remained strong at entry-level and mid-market price points while the high-end ($750K+) experienced significant softening. The "rest of the story" is that Plano's fundamentals remain strong with homes still selling relatively quickly and close to asking price for smartly positioned properties.
For Plano home buyers entering the holidays, serious buyers emerge from the crowd—those shopping aren’t tire-kickers but motivated purchasers and sellers show increased willingness to negotiate, creating opportunities to lock in favorable pricing before spring competition returns.
For Plano home sellers, holiday timing isn’t the enemy—motivated buyers are active, and homes with excellent presentation and smart pricing continue selling at or above asking, though a strategic marketing plan is now essential rather than optional.
Holiday markets create opportunities for motivated buyers and sellers. Don't let headlines fool you—let's discuss what's really happening →
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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