Frisco, Texas is holding its own according to recent real estate trends. Things may be slowing down in preparation for the turn of the season, but Frisco, Texas is still actively buying and selling houses.
Listings in Frisco
October ended with 972 active listings, a drop from September’s 1036, which was still 50 below the numbers August recorded. Of those listings, 363 are new, a decline from September’s 422 new listings, which was also a drop from August’s 486. That dropping trend follows through to pending sales as well.
Frisco Home Sales
During August, Frisco, Texas recorded 414 sales. That number dropped in September to just 307 sales. October, however, was on the rise with 322 sales, 15 sales more than the previous month.
Pending Sales
In August, there were 345 pending sales at month’s end. That number dropped to just 323 pending sales at the end of September, and a drop again to October’s 300 pending sales.
Days on the Market
Watching the trends change as summer gave way to autumn and autumn prepares for winter, homes are taking a bit longer to sell as the year ends. During August, homes sold in 44 days, on average. Then, in September, three days tacked to that total for an average of 47 days to sell. Continuing that trend, October gains a 3-day delay, bringing the average to 50 days for a house to sell in Frisco, Texas.
Average Sales Price
Sales prices were up in August, dipped down in September, and are on the rise again for October. During August, homes sold in the area for an average of $439,511. September stumped sellers with a decrease in average sales price to $378,728. At October’s end, the average sales price was $423,366 for an average pf $141 per square foot.
List to Sales Price and Inventory
Sellers in Frisco, Texas can expect to earn, on average, 97 percent of their asking price. The fluctuation in sales price is in relation to inventory, which is consistently dropping as well. In September, there was a 3.3-month supply of houses available. The market is considered healthy when there’s a 5 to 6-month supply. Those numbers dropped even lower for October to just a 2.9-month supply of houses.
What This Means for Frisco Sellers
Although the time it takes to sell is stretching out a little bit longer, and the average sales price is a little bit lower, there’s still motion and activity in the real estate market in Frisco, Texas this month. There are still buyers on the search for the perfect house before the holidays, so there’s time to list and sell successfully before winter sets in.
What This Means for Frisco Buyers
Buyers in Frisco, Texas may be realizing that their options are becoming more and more limited as winter approaches. However, there are still new homes hitting the market, and there’s ample time to make your move before the new year strikes. Waiting may produce more inventory in Spring, but spring also wakes up a flurry of competing house hunters, creating a fierce competition and driving up home values.
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