Let’s talk about what’s been happening with houses in Frisco this January. Imagine you’re shopping for a new gadget, and you notice the prices and how many are available change over time. That’s kind of what’s happening in the Frisco housing market. By the way, how quickly are houses selling in Frisco this January? Let’s find out!
House Prices Are Changing
First off, the average price for a house that’s been lived in before dropped a little bit. If last year a house cost about $614,500, now it’s 1.4% cheaper. And comparing this January to last December, prices fell by 7.2%. Finding that gadget you wanted is now a bit cheaper than it was last month or last year.
More Houses to Choose From
There are more houses up for sale now than there were last year. To put a number on it, there’s a 9.9% increase, meaning if last year we had 100 houses, this year we have about 110. Even from December to January, the number of houses for sale increased slightly (2.6%). So, if you’re looking to buy, you’ve got more options now.
How Fast Houses Are Selling
Even though more houses are being sold this January compared to last year (16.3% more, to be exact), there was a drop in sales compared to December (15.3% less). This means houses are still selling, but not as quickly as they were just a month ago.
And if you’re wondering how long it takes to sell a house, it’s getting quicker. Last year, a house might sit for about 35 days before someone bought it. Now, it’s selling a bit faster than that, which is good news if you’re selling.
What’s Up with Pending Sales?
Pending sales are deals that are almost done but still need to be closed. This January, 42.3% fewer of these nearly done deals than last year, and 18.2% fewer than in December. This slowdown means that, even though people are still buying, they’re not rushing into it as much as before.
What This All Means
The market is still hot for sellers since there are not many houses available (only about 1.5 months’ worth if no more houses were added), but it’s starting to balance out a bit. That’s good news for buyers because it means you might not have to make a decision in a rush and could have a better chance at negotiating a good deal.
Simple Advice for Buyers and Sellers
If you’re looking to buy a house in Frisco, there’s some good news for you. Prices have dipped a bit, and there are more houses to choose from than before. It’s like having more room to breathe and more time to decide.
For those selling, your house might sell faster than last year, but with the market cooling down slightly, it’s important to set a realistic price. Think about what makes your house special and highlight those features to attract buyers.
Start Your Home Search in Frisco Today!
How quickly are houses selling in Frisco this January? Prices are a bit lower, there are more houses for sale, and homes are selling at a good pace but with some signs of slowing down. Whether you’re buying or selling, it’s a time to pay attention, make smart choices, and maybe even find a great deal. The market’s changing, but with a little bit of patience and strategy, you can make the most of it. Follow Mister Frisco for more Frisco market update and expert guidance.
