Plano Market Update - June 2021

Plano's June market delivered 338 sales—the most in several years—while the median price reached a new high of $469,250, up from May and representing approximately $70,000 appreciation since December 2020. The 106% sold-to-list ratio showed buyers bidding 6%+ above asking with fierce competition, and the 5-day median absorption demonstrated homes vanishing within a week. First-half 2021 totals reached 1,449 sales (up 19% year-over-year) at a $430K median, marking a fantastic seller's market.

Inventory remains severely constrained at just 190 homes (two weeks of supply), though each month we’ve seen slightly more listings than sales, suggesting incremental improvement. The top quartile of homes commanded 7-10% premiums above asking, while poorly positioned listings began seeing price reductions—a signal that preparation and strategy now mattered more than simply listing in the hot market.

For Plano home buyers in summer 2021, slightly more inventory than spring offers marginal improvement in choices, but fierce competition persists: financing preparation, budget clarity, and decisiveness remain essential. Flexibility on location and features will help navigate this limited inventory market.

For Plano home sellers, the phenomenal environment still favors well-prepared properties: top homes capture 7-10% premiums ($30K-$45K on median), but success increasingly requires excellent presentation and smart pricing as buyers became slightly more selective than spring's anything-goes frenzy.

Summer 2021 is hitting new highs with record homes sold. Ready to maximize this phenomenal market? Let's connect →

Note: This 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.