Plano home buyers should recognize that this week's 91 price reductions, are the clearest source of negotiating room in the market. Homes are reaching contract at a median of 35 days, so the properties that have already been cut and are still sitting are the ones where sellers have the most reason to deal. With fewer new contracts, you are also facing less competition from other buyers. The caution is that 42 listings left the market through cancellation or expiration this week; a seller who isn't getting an offer may withdraw instead of cutting again, so a home worth pursuing shouldn't be left to see whether it drops further.
Weekly Update
Plano Real Estate Market Update - October 2, 2026
Market Snapshot
Active & Under Contract
567 Active Listings
$549K Median Active Price
48 Median Active DOM
164 Pending Sales 34 new contracts this week
This Week's Activity
56 New Listings
9 Back on Market
91 Price Decreases
3 Price Increases
42 Cancelled & Expired
49 Closed / Sold
30-Year Fixed Rate 7.28%
Market Analysis
What the data says
Plano opens October with 567 active listings, essentially flat from 569 last week and 7.2 percent below the 611 recorded at the end of August. The decline has been gradual, but how inventory is being held down matters more than the number itself. This week, 42 listings left through cancellation or expiration against 34 new contracts, the first week since at least mid-August that exits outpaced buyer demand. New listings slowed to 56, the lowest of the past seven weeks. Supply is being held in check by sellers pulling listings, not by buyers absorbing them.
The pipeline tells the other half of the story. Pending sales fell to 164, down 15 from 179 last week and 16 percent below August 28, a decline more than twice as steep as inventory over the same stretch. Closings rose to 49 as the third quarter ended, while new contracts slipped to 34, the fourth consecutive week at 40 or below. With closings outrunning new contracts by 15, the pipeline drained. The backdrop is a mortgage rate of 7.28 percent, up from 7.03 percent last week, the sixth straight weekly increase and 63 basis points above where it stood in late August.
Price adjustments show where the market is sorting. Sellers cut prices on 91 listings this week, 16.0 percent of active inventory and the highest share of the past seven weeks, against just 3 increases. The DOM gap sharpens the picture: homes that reached contract did so at a median of 35 days, 13 days faster than the 48-day median for active listings. Correctly priced inventory is still transacting. What is accumulating in the active count is older, mis-priced, or both, and some of it is now leaving the market without selling.
Plano home sellers need to understand that a cancellation or expiration doesn't solve a pricing problem; it postpones it. Forty-two listings left the market that way this week, more than went under contract. Homes that reached contract did so in a median of 35 days, 13 days faster than the active median. Sellers are adjusting too: 91 reductions this week mean roughly 1 in 6 active listings changed price. Entering the market correctly priced isn't a concession; it's a strategy. With new contracts at 40 or fewer for four straight weeks and rates at 7.28 percent, the buyers writing offers are doing so on homes that already look right.
Inventory is down 7.2 percent since August, but cancellations, not contracts, are doing the work. If you're deciding whether to buy, list, or wait, and want to know which side of the pricing line you're on, let's talk through the data.
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Market data sourced from NTREIS and compiled via the Plano Market Data Archive.