In 2023 and early 2024, Plano buyers were staring down mortgage quotes well above 7%, watching affordability get squeezed even as prices stayed stubbornly high. Over the past year, inflation has cooled, the Fed has softened its stance, and mortgage markets have finally responded, pulling the average 30‑year fixed rate down to around 6.15%, the lowest level in roughly 15 months. At the same time, Plano’s November 2025 numbers show a median price of $520,000 (down 3% year over year), 702 active listings (up 15.7%), and homes sitting 57 days on market, creating a very different landscape where buyers have more time, more choice, and more leverage than they’ve had in years.
Plano Housing Market Snapshot (November 2025)
Plano’s latest housing report provides a clear, data-driven view of what buyers are currently facing. Instead of guessing about “the market,” you can anchor your decisions on real stats.
- Median sales price: $520,000, representing a 3% decline from November 2024.
- Active listings: 702 homes, up 15.7% year over year, signaling more options and less frenzy.
- Days on market: 57 days, which is 16 days longer than a year ago, plus an additional 27 days to close, for a total of approximately 84 days from listing to keys.
This combination of slightly lower prices, increased inventory, and longer days on market suggests a more balanced Plano market, still healthy but finally giving buyers room to negotiate and think.
Price Points: Where Plano Buyers Are Actually Shopping
The same November report breaks down how Plano’s price distribution really looks, and it confirms what locals already feel: this is a higher‑end, family‑driven market. Understanding this spread helps set realistic expectations before you start touring homes.
- 0–$299,999: Only about 5% of sales fall under $300K, showing that true “starter home” pricing is almost nonexistent in Plano.
- $300,000–$399,999: Approximately 17.7% of the market falls within this range, typically comprising smaller homes or older builds that require updates.
- $400,000–$499,999: About 22.1% of listings sit in this band, a sweet spot for many move‑up or relocating families.
- $500,000–$749,999: The largest slice at 38.7%, where you see many of Plano’s mainstream family homes in established neighborhoods and good school zones.
For buyers, this means that most realistic home-shopping conversations in Plano start in the mid-$400,000s and run through the $ 700,000s, which makes today’s 6.15% interest rate especially important to understand from a monthly payment standpoint.
What a 6.15% Interest Rate Really Means for Plano Buyers
After peaking near 7.5–7.8% in late 2023, the average 30‑year fixed mortgage rate has eased into the low‑6s, with several trackers putting today’s typical quote around 6.15%. Many national and local lenders offer 30-year conventional loans in the 6.1–6.3% range for strong borrowers with good credit, solid income, and standard loan scenarios.
A few practical implications for a typical Plano price point:
- On a $520,000 home with 10% down (roughly a $468,000 loan), a 6.15% rate keeps the payment significantly lower than it would be at 7.25%, often by several hundred dollars per month.
- Compared with the pandemic’s ultra‑low 3% era, payments are still much higher, but the gap versus 2023’s peak rates has narrowed enough to pull more buyers back off the sidelines.
- Buyers can often trade a slightly higher purchase price for meaningful seller‑paid concessions or rate buydowns, which directly reduce the monthly cost at 6.15%.
In short, today’s rate environment isn’t “cheap money,” but it is cheaper than the recent past—and when combined with Plano’s softer pricing and higher inventory, it creates a more workable entry point for buyers.
Is Plano a Buyer’s Market, Seller’s Market, or Something In Between?
Plano is not crashing, but it is clearly not the frenzy of 2021–2022. The November 2025 data paints a picture of a transitioning market, still fundamentally strong, but more balanced and negotiable.
- Closed sales in November: 182, up 3.7% versus November 2024, showing that demand is still steady even with higher rates.
- Months of inventory: 3.3 months, up from 3.0 a year prior, indicating a gradual move away from extreme seller control.
- Homes are sitting 57 days on market on average, which means well‑priced homes still move, but buyers no longer have to make decisions in 24 hours.
Taken together, Plano sits closer to a balanced market, with a slight lean toward sellers on paper, but with day-to-day conditions that feel far more buyer-friendly than just a couple of years ago. Buyers who are prepared, pre‑approved, and realistic on price have more power to negotiate than at any point since before 2020.
Where Could Interest Rates Go Next?
Any conversation about “Is it a good time to buy?” naturally runs into “Should I wait for a better rate?” Forecasts are never guaranteed, but major mortgage and economic outlooks offer a useful frame.
- Several 2026 forecasts expect 30‑year fixed rates to average around 6.0%, only slightly below today’s 6.15%.
- Some analyses suggest a gentle drift into the high‑5s if inflation continues to cool and the Fed cuts rates gradually, but not a return to the 3% range that defined the pandemic years.
- Many experts describe a “new normal” band between roughly 5.75% and 6.5% over the next couple of years, barring major economic shocks.
From a Plano buyer’s perspective, that means:
- Waiting might shave a fraction of a percent off your rate, but probably not 2–3 percentage points.
- If rates dip into the high‑5s later, you can refinance, but you cannot go back and buy at today’s prices and today’s softer negotiation environment.
So the more realistic planning strategy is: buy when the home and payment make sense, then treat the rate as something you may improve down the line, not the only decision trigger.
Why Buying in Plano at 6.15% Can Still Make Sense
Plano’s underlying fundamentals remain strong: employment, schools, amenities, and long‑term demand continue to support property values. The recent data simply shows that the market has shifted from hyper‑competitive to rational.
- Price normalization, not collapse: A 3% year‑over‑year median price decline to $520,000 suggests a cooling and recalibration, not a freefall.
- More inventory, more choice: 702 active listings and 3.3 months of inventory mean buyers can compare neighborhoods, schools, and property conditions instead of grabbing the first house that hits the market.
- Negotiation runway: Longer days on market open the door to price reductions, seller‑paid closing costs, and creative financing solutions like 2‑1 buydowns.
For buyers planning to stay put for at least 5–7 years, this combination of improved leverage, slightly lower prices, and still‑healthy long‑term fundamentals can be compelling, even at a 6.15% rate.
Smart Strategies for Plano Homebuyers in a 6.15% World
To make the most of this window, buyers should lean into strategy, not just rate‑watching.
- Target homes with 45+ days on market and recent price reductions; these sellers are likelier to fund closing costs or rate buydowns.
- Ask your lender to model payments at today’s 6.15% rate and at a hypothetical future refinance rate (for example, 5.75%) so you can see the potential upside of refinancing later.
- Compare loan products: conventional vs. FHA vs. potential ARMs, as different structures can shift your payment more than small rate changes alone.
When framed this way, the question “Is it a good time to buy a house in Plano, TX in a 6.15% interest rate world?” stops being about timing the absolute bottom and starts being about matching a real, data‑backed opportunity to your life plans. If the numbers work at today’s payment, you find a home you genuinely want in a city with strong long‑term fundamentals, and you leave room to refinance if rates drift lower, buying now in Plano can be a rational, opportunity‑driven move, not a gamble on interest‑rate headlines.
