Real estate values in Frisco, Texas have about doubled in a decade. The real estate dollar doesn’t stretch quite as far as it used to. Increasing population and job growth influences housing demands, spawning new construction of apartments, townhouses, condominiums, senior living, and single-family detached homes. As Autumn arrives, kids go back to school, and people begin to prepare for the holiday season, the real estate market tends to slow to a crawl. But it’s not wound all the way down just yet. Here’s how things shaped up for August 2017 in the Frisco, Texas real estate market.
Overview
The most highly sought-after home in Frisco, Texas is a four-bedroom single family home built after the turn of the millennium and holding average values of around $414,059.
The average list price for homes in Frisco, Texas at the end of August 2017 is around $520,000. Average sales prices, however, are around $495,000.
At the end of August, there were about 1,085 active listings open, of which 486 were new. On average, homes stayed on the market for 44 days. August showed 414 sales in Frisco, Texas, with an average sales price of $439,511. There were an additional 345 sales pending at month’s end.
At the end of August, there were about 700-800 listings available for people who are still house-hunting at the turn of the season, but that number isn’t expected to increase between now and spring. There’s a 3.2-month supply of inventory of houses in Frisco, Texas, which is less than what’s considered a healthy supply of about five to six months.
What This Means for Sellers
With relatively low inventory of resale properties, listing now could add interest to your property. The winter slumber hasn’t yet struck Frisco, so there’s still time to sell before the holidays. If you list now, you can expect your home to stay on the market for around 45 days and sell for about 98% of the list price.
What This Means for Buyers
Buyers in Frisco, Texas don’t have an over-abundance of options when it comes to buying resale properties, although the market is far from being desolate. While recent population and job growth are fabulous for the economy, the surge puts a strain on the housing market, squeezing inventory while escalating home values. Buyers looking to move before the holidays may not see much new inventory before the seasons change and face more competition, so offers need to be swift and solid.
Conclusion
Autumn introduced a slower movement to the real estate industry, as has always been the tradition. Summer vacations are over, the kids are back in school, and the holidays are approaching. There’s one more window of opportunity before the winter freeze to buy or sell real estate in Frisco, Texas. On that same token, should you decide to wait until spring, you’ll find a surge of activity among buyers and sellers that can totally change the landscape of the real estate culture in Frisco, Texas.
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