Plano Market Update - August 2022

Plano's August market showed prices stabilizing at $547,500 - up slightly from July's $536,944—with 240 sales as Labor Day weekend marked the unofficial end of summer and typical seasonal expectations. Year-over-year appreciation remains strong at 22%, though the sold-to-list ratio hitting exactly 100% signals the era of automatic overbidding has ended. Days on market climbed to 11 days median (37 average), suggesting homes are taking longer to sell though still selling relatively quickly by historical standards.

Inventory held at 347 homes representing 1.5 months of supply—tighter than the broader DFW market's 2+ months—with pricing appearing to level out in the mid-$500Ks where it seems likely to finish the year. All three Plano regions showed remarkable consistency at 100% sold-to-list, suggesting an equilibrium point has been reached. The historical pre-pandemic sold-to-list ratio of 95-97% suggests further cooling ahead, but the trajectory is toward normalization rather than collapse.

For Plano home buyers heading into fall 2022, seasonal patterns typically mean less competition, and with sellers adjusting to market reality, more negotiating opportunities are coming while mortgage rates remain the wild card requiring attention.

For Plano home sellers, the market remains favorable but requires realistic pricing matched to current comps rather than spring’s peaks, excellent presentation to stand out, and patience as 11-day absorption is still healthy compared to the unsustainable 5-day frenzy.

Fall 2022 brings seasonal opportunities and market equilibrium. Ready to make your move in the new balanced market? Let's connect →

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.