Welcome to this month’s Frisco, Texas real estate market report for October 2019. Stay up to date on the trends in the Frisco, Texas real estate market.
Are you a buyer searching for a home in the Frisco, TX area? You can use our search tool above to find properties in your preferred price range and location. Be sure to save your searches and sign up for alerts to be notified as soon as matching properties become available.
Are you considering selling your home? If you are, take advantage of our free home valuation tool to get an idea of your home’s worth. Then give Rene Burchell a call today and she can show you how she markets your home to sell it quickly, and net you the most amount of money.
A Look at Frisco Housing Stats
The median sales price for homes in Frisco, Texas ended the third quarter at $415,000 this is down from the median sales average of $423,000 one year ago. Total sales volume came in at $473,744,998, up from $423,551,852 during third quarter 2018.
The total amount of inventory in all price ranges has increased. The $500-750,000 market had the highest gain from 5.5 months of inventory for the third quarter of 2018 to 7.1 months of inventory during the third quarter of 2019.
There were 909 sales during the third quarter, down from 992 this time last year. During the third quarter, the month of July had the highest number of sales at 360, August had 340 units sold, and September had 209 units sold.
What Does This Data Say About Frisco Real Estate?
In the Frisco, Texas real estate market, the average number of days on the market before being sold is 46 days, a decrease from 79 during 2018.
In the higher brackets, the $500-699,000 price range averaged 48 days on the market; the $750,000 range averaged 81 days, and the $751,000 and higher averaged 65 days. All price ranges saw decreases in the number of days before being sold.
Sellers are averaging 1.0% over list price, down from the 2018 average of 1.1% over asking.
Looking at the numbers by price range we see that in the $151-200,000 price range sellers are getting 103.3% of list price, the $201-300,000 bracket is at 98.2%, the $301-500,000 range is at 98.0%, the $501-750 market is at 96.9%, and in the $751,000 and higher range sellers are averaging 95.6% of list price.
What Does This Mean for Frisco Home Buyers?
Buyers searching for a home in Frisco, Texas can expect to see more inventory available, and prices falling in most areas.
The slowdown in sales from the summer buying season, year to year drop in prices, and more housing available may buyers in a stronger negotiating position going into fourth quarter 2019.
In certain price brackets, buyers may be able to pay less than asking price for the perfect home. Stay up to date when the new properties become available by signing up for alerts. Don’t miss out!
When you see a great property give Rene Burchell a call so she can answer your questions, and show you how she represents buyers to accomplish their home buying goals.
What Does This Mean for Frisco Home Sellers?
Sellers in Frisco, Texas can expect to see a slowdown as we head into the winter season. The winter season brings out the serious buyers, and sellers who have their home priced correctly will see their house sell.
Sellers may wish to exercise patience during the fourth quarter of 2019 as some markets have seen an uptick in inventory, and fewer buyers currently searching for homes.
Rene Burchell is the experienced agent who you need on your side to market your home to the most qualified buyers. Use our free home valuation tool to get an idea of your home’s worth, then give Rene Burchell a call to answer all your questions about getting your home listed today!
Frisco Homes for Sale
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 $415,000 or less.