Here’s a look at the Frisco Real Estate Market for August 2018. According to NTREIS statistics, this area is seeing a decrease in the average price of homes again this month. Let’s take a closer look at the Frisco real estate market trends.
A Look at Frisco Housing Stats
The month of August began with a total of 1,224 active listings in Frisco. This number shows a 12 percent increase from this time last year. The average sales price for homes in Frisco for the month of July was $454,497. This amount shows a drop from the $456,299 last month and a 4 percent increase from July 2017. There were 386 homes sold during the month of July, which shows an increase from the 375 sold last month. This area is seeing an 11 percent decrease in homes sold compared to this time last year.
What Does This Data Say About Frisco Real Estate?
Frisco saw 493 new listings hit the market in July. This number is down 15 percent from new listings in July 2017. There was a significant drop in new listings this month compared to the 623 we recorded last month. The Frisco area has 3.8 months of real estate inventory. The real estate market is considered balanced with a 6-month supply of inventory. The month of August began with 339 pending sales for Frisco, which is down 15 percent from this time last year.
What Does This Mean for Frisco Home Buyers?
While Frisco is seeing a decrease in new listings, there is a drop in the average sale price for homes over the last several months. This is good news for buyers who are looking to purchase a property while the slow down in prices continues. Of course, you want to make sure you know when new homes are listed. Sign up for new listing alerts to come straight to your e-mail inbox. You can set up your search criteria and get a step up on the competition. Having a search account allows you to modify search options should something change, and it ensures that you’re notified quickly according to your criteria.
What Does This Mean for Frisco Home Sellers?
Frisco home sellers are receiving are consistently receiving 98 percent of their listing price. Homes are selling for around $145 per square foot. When compared to last year at this time, we’re seeing that the numbers were in the same range. Sellers are seeing homes spend an average of 46 days on the market. One of the keys to a successful (and quick) sale is to set your asking price right the first time. Set it too high and your home sits on the market. Set it too low and you can lose money. Check our home value estimator to get an idea of what your home is worth today.
Frisco Homes for Sale
Wondering what your home might be worth? Find out instantly with our 15-second home value calculator.