As we move into warmer months, home sellers in the Frisco area are fairing well when it comes to the percentage of their listing price that they receive and the days their homes are staying on the market. Let’s take a closer look at what’s happening in the Frisco real estate market for May 2018.
A Look at Frisco Housing Stats
The month of May began with a total of 1,035 active listings in Frisco. This number shows a 20 percent increase from this time last year. The average sales price for homes in Frisco for the month of April was $435,002. This amount shows a significant decrease from the $450,183 last month. However, it’s just a 1 percent drop from the average sales price in April of 2017. There were 335 homes sold during the month of April, which is up from the 325 sold last month. It’s also 9 percent higher than the number of homes sold last year at this time.
What Does This Data Say About Frisco Real Estate?
Frisco saw 597 new listings hit the market in April. This number is up an impressive 20 percent from April of 2017. This is also good news for the current real estate inventory, which is showing 3.1 months of inventory. The real estate market is considered balanced with a 6-month supply of inventory. What we’re seeing right now is a strong leaning towards a seller’s market. The month of May began with 404 pending sales for Frisco. Amazingly, this number is exactly the same as this time last year.
What Does This Mean for Frisco Home Buyers?
Although the inventory supply in Frisco isn’t as tight as it is in some areas of the country, buyers are still facing strong competition for homes in the area. Because of this, 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?
Sellers are in a good position right now with the Frisco real estate market trends. Currently, sellers are receiving 98 percent of their listing price. This is down just 1 percent from this time last year, but it’s still pretty impressive. Homes are going for around $139. per square foot. This is a drop of 4 percent from April of 2017. However, if you want to hear something amazing, you’ll be happy to know that homes are spending an average of 59 days on the market. Compared to this time last year, that’s a 55 percent improvement! 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.
Here are the most recent home listings just added to the database in the average price range for Frisco. All homes here are priced at $435,002 or less.
Frisco Homes for Sale $435,002 and Under