The real estate market in Frisco, TX, is experiencing a dynamic shift as we move into the final months of the year. For potential buyers and sellers, it’s essential to understand how these changes affect **Frisco TX real estate**. Here’s a detailed look at the current trends in **homes for sale in Frisco TX**, based on recent data from September.
Home Prices in Frisco, TX
The median price of an existing home in Frisco for September 2024 stands at $637,500. This represents a 6.7% decrease compared to the same time last year. Additionally, home prices dropped 1.9% compared to August. This downward trend in prices may offer buyers an advantage, especially those who have been waiting for more favorable conditions in the **Frisco TX real estate** market. While prices are still relatively high, this drop indicates some easing in market pressure.
For buyers, this decline can create an opportunity to explore homes for sale in Frisco TX with more negotiating power, as sellers may be more willing to adjust asking prices. For sellers, it means that pricing competitively will be essential in attracting potential buyers in a softening market.
### Housing Inventory and Supply
Inventory on the market has increased significantly, with 571 homes for sale in September—56.9% more than the same time last year. However, it’s worth noting that the number of available homes actually decreased by 5.5% compared to August. The rise in inventory compared to 2023 could be beneficial for buyers, as more options are available to choose from. However, the slight dip in listings month-over-month shows that sellers may be pulling back due to slower demand or seasonal changes.
In terms of supply, the market currently has 3.6 months of inventory. While this represents a small decrease from 3.8 months in August, it still places Frisco in a seller’s market. A balanced market, where neither buyers nor sellers have an advantage, typically requires six months of inventory. With fewer homes on the market, sellers still hold some leverage, though it’s important to price homes appropriately given the softening price trends.
### Home Sales and Pending Transactions
Home sales in Frisco have taken a noticeable hit. In September, only 130 existing homes were sold, which is 24% lower than during the same time last year. Month-over-month, sales dropped 20.2% compared to August. These figures highlight a cooling in the market, as fewer buyers are closing deals.
Despite this slowdown, there is some optimism as pending home sales are showing signs of improvement. September saw 149 pending home sales, a 2% increase from August. While this figure is 2.6% lower compared to last year, the month-over-month increase suggests that buyer interest is gradually returning, and we could see a rise in closed sales in the coming months. Pending sales are a good leading indicator that the **Frisco TX real estate** market may stabilize in the near future.
### Days on the Market
Another key trend to watch is how long homes are sitting on the market before they sell. The median number of days on the market in September was 37 days, which marks a significant 76.2% increase from the same time last year. In addition, homes took 11 more days to sell in September compared to August.
For sellers, this means that patience may be required, as homes are taking longer to attract offers. Longer time on the market can also lead to price reductions, as sellers may become more motivated to close deals. Buyers, on the other hand, can use this extended time frame to their advantage, taking extra time to make decisions and potentially negotiating better deals.
### The Frisco TX Real Estate Market Outlook
Overall, the **Frisco TX real estate** market remains in a seller’s market, despite some cooling trends. The lower home prices, increased inventory, and longer time on the market are creating more opportunities for buyers to explore **homes for sale in Frisco TX**. However, with a limited supply of homes, sellers are still in a position to negotiate favorable deals, especially as pending sales show signs of recovery.
For both buyers and sellers, working with a knowledgeable **realtor in Frisco TX** will be key to navigating this evolving market. As conditions shift, understanding how to price a home competitively or make the most of current inventory will be crucial for successful real estate transactions in the coming months.
Frisco’s growing population, high-quality schools, and strong economic base continue to make it a desirable place to live, and these factors will likely contribute to the market’s resilience, even in a fluctuating landscape.
The real estate market in Frisco, TX, is experiencing some interesting shifts, but whether you’re a buyer or seller, there are still great opportunities to explore. With the median home price dropping and inventory rising, now might be the perfect time to make your move.
If you’re looking to buy or sell **homes for sale in Frisco TX**, working with an experienced realtor is crucial to navigating these changes. **Mr. Frisco**, your trusted **realtor in Frisco TX**, has the local expertise and market knowledge to help you make the most informed decisions.
Whether you’re considering selling your home or are in the market to buy, **Mr. Frisco** is here to guide you through every step. Contact **Mr. Frisco** today to learn more about your options and get personalized advice for your real estate journey.
Don’t wait—reach out to **Mr. Frisco** and start your next chapter in the vibrant **Frisco TX real estate** market!
