Let’s take a closer look at what’s happening in the Frisco real estate market for June 2018.
A Look at Frisco Housing Stats
The month of June began with a total of 1,153 active listings in Frisco. This number shows a 27 percent increase from this time last year. The average sales price for homes in Frisco for the month of May was $459,468. This amount shows an increase from the $435,002 last month and a 2 percent increase from May 2017. There were 413 homes sold during the month of May, which shows an impressive increase from the 335 sold last month. This area is seeing a 6 percent decrease in homes sold compared to this time last year.
What Does This Data Say About Frisco Real Estate?
Frisco saw 625 new listings hit the market in May. This number is down 3 percent from new listings in May 2017. However, there were more listings in May compared to the 597 from the month before. This is good news for the current real estate inventory, which is showing 3.4 months of inventory. The real estate market is considered balanced with a 6-month supply of inventory. The month of June began with 403 pending sales for Frisco, which is down 17 percent from this time last year.
What Does This Mean for Frisco Home Buyers?
Frisco is enjoying an increase in new listings that are breathing fresh air into the market. Keep in mind that there are other buyers who are just as excited as you are about these new listings! It’s a good idea to stay informed of when new listings hit the market. 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?
As we move through the summer months, it seems that more sellers are deciding to list their homes. This is the perfect time to consider listing yours. Currently, sellers are receiving 98 percent of their listing price. Homes are going for around $147. per square foot. This number shows an increase of 4 percent from May 2017. Homes are spending an average of 45 days on the market. Want to make sure you are pricing your home correctly. Use the 15-second home value calculator below and then give us a call for a more comprehensive report. Setting your asking price right the first time is extremely important. Set it too high and your home sits on the market. Set it too low and you can lose money.
Wondering what your home might be worth? Find out instantly with our 15-second home value calculator.