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Plano, TX Housing Market

The Plano housing market is somewhat competitive. Homes in Plano receive 2 offers on average and sell in around 39 days. The median sale price of a home in Plano was $530K last month, +6.0% since last year.

Plano Market Trends

It’s still a good market to sell in Plano.

Even though the market has shifted across the U.S., Plano is still a good market to sell your home.

+6.0%
The average home value in Plano has increased by +6.0%.
$530K
The median sale price for a home in Plano has remained strong at $530K.

Plano Real Estate

Learn more about the Plano market

In the last 30 days, homes for sale in Plano, TX sold for a median price of $530K, +6.0% compared to the same period last year. The median price per square foot was $227, +1.8% year-over-year. There were 218 homes sold, down from 696 last year. Homes typically received 2 offers and stayed on the market for around 39 days.

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Texas Acquisition Manager

Meet our Plano Expert, Andy

Andy will help you get the best offer in Plano with no repairs or showings.

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Maximizing Your Home Sale in Plano, TX: Tips and Insights

Selling your home in Plano, TX can be a rewarding experience, especially if you aim to get the best possible price. Whether you're relocating, downsizing, or simply looking for a change, understanding the latest market trends, and making strategic improvements can make your home irresistible to buyers. Let's dive into some key insights and valuable tips that can help you maximize your home's sale price and make the entire process smoother.

Current Real Estate Market Trends in Plano, TX

Plano's real estate market remains vibrant and competitive. Homes here are in high demand thanks to excellent schools, thriving local economy, and proximity to Dallas. Some key trends include:

  • Home Prices: The median list price is around $549,000 with a median sale price of $530,000.
  • Market Activity: Homes typically stay on the market for about 39 days.
  • Bidding Wars: On average, homes receive about 2 offers, with sale prices averaging 98.3% of the list price.
  • Price Per Square Foot: The median sale price per square foot is $227, showing a +1.8% year-over-year increase.

Home Improvements to Increase Value

Investing in the right renovations can significantly boost your home's market value. Here are some effective updates to consider:

  • Kitchen Remodel: Costs range from $20,000 to $100,000 with a potential ROI of 60%-80%. Upgrading appliances and countertops can make a huge difference.
  • Bathroom Remodel: Expect to spend $10,000 to $50,000 with an ROI of 60%-70%. Modern fixtures and improved lighting can enhance appeal.
  • Adding a Deck or Patio: Costs vary from $4,000 to $30,000 and can yield a 70%-80% ROI. Outdoor living spaces are highly coveted.
  • Curb Appeal Enhancements: Simple landscaping or a new front door ($2,000-$10,000) can provide a substantial ROI of 70%-100%.
  • Window Replacement: New energy-efficient windows ($8,000-$15,000) can offer a 60%-80% ROI and attract green-minded buyers.

Making Your Home Stand Out

In addition to renovations, consider these strategies to make your home more appealing:

  • Declutter: A clean, uncluttered space allows potential buyers to envision themselves living there.
  • Stage Your Home: Professional staging can highlight your home's best features and make it more inviting.
  • Quality Photos: Hire a professional photographer to capture your home’s best angles. High-quality photos can significantly increase interest.

Striking a Balance: Renovations vs. Direct Sale

While renovations can boost your home's value, they can be time-consuming and costly. If you prefer to skip the hassle, consider selling directly to Frontdoor. This option allows you to avoid repairs and receive a competitive offer quickly, making the process as smooth as possible.

Understanding Your Buyers

Knowing what attracts buyers to Plano can help you emphasize the right features during your sale:

  • Location: Proximity to Dallas, great schools, and community amenities are major draws.
  • Job Market: The presence of major employers like Toyota and JPMorgan Chase boosts the desirability of living in Plano.
  • Lifestyle: Mixed-use developments and a family-friendly environment make Plano attractive to young professionals and families alike.

Conclusion

Selling your home in Plano, TX can be a lucrative and fulfilling experience when you understand the market and make informed decisions. Whether you choose to invest in renovations or opt for a direct sale, being strategic and proactive can help you achieve top dollar. Stay informed about market trends, focus on high-ROI improvements, and don't hesitate to seek professional advice when needed. By following these tips, you're well on your way to a successful home sale.

Happy selling! 🌟

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Sell your Plano home

Request a competitive offer

Step 1

1. Share Unique Details About Your Home

Tell us all the special features of your Plano home. Is there a beautiful backyard? Newly renovated kitchen? The more we know, the better we can assess its value.

Step 2

2. Compare to Other Homes in Your Neighborhood

Look at homes in your area to see how yours stacks up. Compare prices and features to get an idea of where your home stands in the market.

Step 3

3. Speak to a Plano Market Expert

Talk to a local expert who knows the Plano market inside and out. They can give you insights on pricing and help you get the best offer from Frontdoor.

Comparison

Why you’ll love working with us

Let’s compare the sale of a $550,000 home in Plano, TX.

                                                                                                                                                                                                                                                                                                                                           
Traditional SaleFrontdoor
Commission & Fees$33,000$0
Closing Costs$8,400$0
We pay all costs
Repair Costs$24,750$0
We pay all costs
Days on Market25 DaysImmediate Offer
Total SavingsSave $66,150

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