November’s market insights reveal some intriguing patterns in understanding the real estate market, particularly in a vibrant and ever-changing area like Frisco. For those looking to buy or sell, these shifts offer valuable insights, helping them to navigate decisions with more confidence. This month’s trends provide an interesting snapshot of the local real estate landscape.
Home Prices: A Mixed Bag
Talking about home prices in Frisco, the average price for a home in November was $590,000. Compared to last year at the same time, prices have dropped a bit – by 1.7%, to be exact. But when looking at the change from October to November, there’s a significant decrease of 11.9%. It’s a reminder of how unpredictable the market can be.
Inventory Levels: Fewer Choices
On to the availability of homes for sale. The number stood at 323 this November, which is 7.7% less than what it was a year ago. Even from October to November, there was a slight decrease of 1.2%. This indicates that buyers have fewer options to choose from compared to the past.
Pace of Sales: Slowing Down
The number of homes sold in November also presents an interesting picture. Only 101 homes were sold, marking an 18.8% decrease from last year. The month-to-month comparison shows a more pronounced drop of 19.4% from October. Also, homes are taking longer to sell, averaging 27 days on the market, five days more than in October.
Make Timely Decisions
This November, the Frisco real estate market shows a fluctuation in home prices, a tighter inventory, and a slower pace in sales. For those looking to make a move in the market, whether buying or selling, these trends are important to consider as they can significantly influence decision-making.
Stay updated on November’s market insights in Frisco real estate, and if you have any questions or need guidance, feel free to reach out to Mister Frisco.
