Here is a look at the Frisco real estate report for February 2018. According to reports from the North Texas Real Estate Information Systems, (NTREIS), single family home sales in North Texas are up 12% from this time last year. While days on the market are increasing slightly, the average sale price is increasing as well, making the few extra days on the market potentially worth the wait. Frisco was ranked as one of the top real estate markets in the United States last year, which resulted in the expected increase of home sales. Even Frisco may not have anticipated the over 20% increase, however!
A Look at Housing Stats
The end of January brought an increase in sales of 22%, compared to this time last year. With a 32% increase of active listings over January of 2017, this means that many more houses are coming on the market each month. The overall housing market of North Texas has seen a much smaller increase of 6% in active listings. The average sales price in North Texas is $279,023 while the average sales price in Frisco is $446,204.
What Does this Data Mean?
While growth seems to be a little slow in North Texas overall, Frisco has seen an 11% increase of pending sales over this time last year. The current price per square foot and average sales price have both seen a 3% increase. This bodes well for sellers, but it is arguable not a high enough difference to really dissuade buyers from taking a look at the Frisco market, especially considering the top ranking it received last year.
What does this mean if you’re buying a Frisco home?
If the Frisco area is calling your name, buying a home now or soon, could be a good move. Despite the small increase in sales price, the upward movement of the market trend is a good sign that your investment will increase in value. In the last month, 97% of homes were sold to list price. This is down 1% from last January, however the upward trend of the sales price indicates there is some opportunity for negotiation. Make sure to contact your real estate agent to help you get started on your search. A qualified expert can offer invaluable advice and direction, regardless of where you’re coming from.
What does this mean if you’re selling a Frisco home?
If you are looking to sell your Frisco home, market trends are showing a slight seller’s market right now. The trends are also indicating that there will continue to be an increase in interest in this area. Don’t wait too long to list though. With the average days on the market being almost 80 days, this is a huge increase from last year, at 68%. Getting in contact with a qualified realtor can help you navigate the balancing act of listing, waiting, buying, and selling. Demand for housing in Frisco is only going to increase with the visibility gained from being named one of the top real estate markets in the United States.
Wondering what your home might be worth? Find out instantly with our 15-second home value calculator.