The Frisco, Texas real estate market is by no means down and out. The data may show steady declines in certain areas, but the new year looks promising for Frisco, Texas. The buyers are out there if the sellers can find the right home for them.
Listings in Frisco
November ended with 824 active listings, a drop from October’s 972 and 64 lower than September‘s total of 1,036. This marks a 24% change from this time last year. Of those listings, 298 are new listings, which is about a 1% change from a year ago.
Frisco Home Sales
November again saw a slight drop in pending sales, with 275 in total, which was a drop from October‘s total of 300 pending sales and a 6% change from the previous year. September‘s total was 323, which was lower than August‘s total of 345 pending sales at that month’s end.
Days on the Market
We see the trend, of houses taking a bit longer to sell, continue as we head into the winter months. In the month of November, houses stayed on the market for 53 days. That’s higher than October’s 50 days, so we again see a gain in 3-day delays. That’s a 10% change from November of 2016. Prior to October, September’s total was an average of 47 days for a house to stay on the market before it sold. In the month of August, homes sold, on average, in 44 days.
Average Sales Price
$424,922 was the average sales price for a home in Frisco, Texas, in the month of November. That’s a price increase of $1,556 from October’s average of $423,366. November’s prices translate to $141 per square foot. That’s a change of 3% from one year ago. September saw an average sales price of $378,728.
List to Sales Price and Inventory
Sellers in Frisco, Texas, can still expect to earn, on average, about 97% of their asking price. The current 2.5-month supply of houses available directly relates to the ongoing fluctuation in sales prices. The month of October saw a drop in the number of houses available to a 2.9-month supply. September saw a 3.3-month supply of houses, meaning that the trend in inventory is seeing a slight, yet steady decline. Just a reminder, the market is considered healthy when there’s a 5 to 6-month supply.
What This Means for Frisco Sellers
Do not let November’s numbers scare you away from selling that perfect house to the perfect buyers. Inventory might be low, and houses are still hanging around on the market longer, but house prices are going back up, so there’s money to be made. The real estate market in Frisco, Texas is still alive and well. With the holiday season underway and the New Year just around the corner, there is still some time to list and sell before winter ends and spring arrives.
What This Means for Frisco Buyers
Frisco, Texas buyers may be growing weary with a limited buying market, but homes are still out there, and they need the perfect owner. You could be the perfect seller for that perfect sale at the perfect time – right before the new year is here. Why wait until Spring? Beat the competition now so you can begin the new year ahead of the game!
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