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.

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Home Prices: What’s Happening?

The price of homes in Frisco has seen some interesting changes. When we compare the average price of homes sold this December to what it was at the same time last year, it’s a bit lower. But if we look at the price change from November, there’s been a slight increase. So, prices went down compared to last year but went up compared to November.

Fewer Homes Available, More People Wanting to Buy

In 2023, we’ve had fewer homes for sale in Frisco than we did last 2022. Even when we compare the number of homes for sale in December to November, there are even fewer. This means if you’re looking to buy a house, there might not be as many options as before, and the competition might be a bit tougher.

Selling Homes: A Quick Overview

When we talk about how many homes were sold, there’s a decrease in the number of homes sold in December compared to last year’s December. But, interestingly, more homes were sold in December than in November. So, while fewer homes were sold compared to 2022, more homes were sold compared to November last year.

How Long Are Homes Staying on the Market?

If you’re selling your home, it’s taking longer to find a buyer than last 2022. On average, homes are staying on the market for more days. This is also true when we compare it to just last November – homes are taking a bit longer to sell in December than they did in November.

Pending Home Sales: A Slower Trend

It’s important to note that “pending sales” are homes that are under contract and are pending to close. We are currently seeing a decrease in pending sales compared to 2022, and even from November to December. This suggests that the real estate market is not as busy as it used to be.

What Does the Market Look Like for Sellers and Buyers?

Despite these changes, Frisco is still a seller’s market. If you’re selling your home, you’re in a good position because there aren’t many homes for sale, and there are still people looking to buy. But it’s also important to be patient, as homes might take longer to sell.

For those looking to buy a home, the smaller number of homes available could make it a bit challenging to find the perfect place. But there’s a silver lining – the slight drop in prices compared to 2022 might work in your favor.

What’s the Big Picture?

Overall, the Frisco real estate market is seeing some shifts. The market is slower than it was in 2022, but it’s still active. For sellers, this means being patient and realistic with pricing. For buyers, it means being prepared for a bit of competition but also being aware of potential opportunities.

Keeping an eye on these market changes is crucial. Whether you’re planning to sell your home or looking to buy one, understanding the current market conditions can help you make better decisions.

Feel free to reach out if you have questions or need advice about buying or selling in Frisco. Let’s navigate the Frisco real estate journey together, making the most of the opportunities this market has to offer. Follow Mister Frisco for more expert guidance!

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Home Prices on the Rise

In October, the typical home in Frisco had an average price of $680,000, a 13.3% increase compared to last year. Moreover, just within a month, from September to October, there has been a 1.9% rise in home prices. This suggests that the real estate market in Frisco is experiencing significant growth, which can benefit sellers but may require buyers to budget accordingly.

Choosing from Fewer Homes

Currently, there are only 326 houses available for sale, which is 16.4% fewer than the number available last year. Additionally, this figure has decreased by 5.2% in just one month, from September to October. This limited inventory of homes suggests a competitive market where buyers may need help finding the right property.

Slower Sales, Strong Prices

We’ve seen 139 homes sold in October, a 12.6% decrease compared to the number of homes sold last year. Moreover, sales have slowed down by 16.3% since September. Despite this decline in sales, home prices in the area have continued to rise.

Homes Taking Longer to Sell

Selling houses is taking a bit more time these days. On average, homes are on the market for 22 days, which is one day longer than in September and longer than last year. This means that homes are staying available for buyers for a little longer than before.

Pending Sales Dip

There’s a noticeable drop in homes waiting to be sold. Pending sales are down 21% from last year and have decreased by 31.9% since September, hinting at a market slowdown.

Still a Seller’s Market

With just over two months’ worth of homes to sell, it’s still a good time for sellers, even though the supply is slightly lower than last year and last month. This snapshot gives you a sense of the current trends in Frisco’s housing market.

Keep these insights in mind whether you’re buying or selling this month! Especially the challenge in buying a home in Frisco. Connect with Mister Frisco today for more Frisco real estate expert advice.

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Real Estate Income

Secure your future with the help of real estate. Real estate has the potential to create multiple income streams. Rental properties, for example, offer a consistent monthly income. All you have to do at the end of the month is to collect. This is a hassle-free source of passive income.

Investing for the Future

Owning a home is a lifelong dream for many. Having your own property offers security for you and your family. You won’t have to pay a monthly bill to a landlord once you own a home. This is a secure way for you and your family to gain financial freedom. Make your life your own when you invest in real estate.

Stability in Assets

Real estate investments have stable growth. This is a stark contrast compared to stocks and bonds. With proper research, you can identify desirable locations that have the potential to appreciate significantly. You can rent your property out or sell it once it has appreciated in value. In real estate, you can reap twice as much as you’ve sown.

Investing in real estate is a daunting task made easy with the help of Mister Frisco. Secure a better future for you and your loved ones in this industry. Call us now, and we will help you carve a path toward financial growth.

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Ideal Budget

Before you start looking at homes, it’s essential to determine your budget. Considering your current income, savings, and other expenses, determine how much you can afford to spend on a home. You can work with a financial advisor, CPA, and lender to determine the best home loan options. Knowing your budget will help narrow your search and save time on properties out of your price range.

Finding Your Priorities

Everyone has different priorities when it comes to finding their dream home. Some people want a large backyard for their children or pets to play in, while others want a home close to their workplace or local amenities. Make a list of your most essential features, such as the number of bedrooms and bathrooms, the location, the type of neighborhood, and any specific amenities you’re looking for.

Researching Homes

Once you’ve identified your priorities, start doing your research. Look at real estate listings online and attend open houses to understand what’s available in your price range. Pay attention to the size and condition of the homes and any amenities that are important to you. You may also want to research the local schools, crime rates, and other factors impacting your quality of life in the area.

You can never go wrong with having a renowned realtor like Mister Frisco on your side. Let us help you in finding your ideal home. Contact us now and schedule a tour to find your dream home!

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Kitchens

When people move into a new home, one of the first upgrades they typically make is to the kitchen. Installing energy-efficient appliances, updating countertops, and replacing cabinet hardware can create an inviting and comfortable atmosphere for cooking and entertaining family and friends. Doing so can also increase the value of your home and save money in the long run with lower utility bills.

Baths

The next area of focus for upgrades is often the bathrooms. Replacing outdated fixtures and adding new tiles can quickly turn an ordinary bathroom into a luxurious retreat. Installing a low-flow showerhead, toilet, and sink faucet looks great and helps conserve water and reduce water bills.

Interiors & Exteriors

Upgrading the interior and exterior of a home is also very important. Installing new flooring, painting or wallpapering walls, replacing doors, and adding ceiling fans are all great ways to make a house feel like home. On the outside, people often add or replace siding and windows for increased energy efficiency and to improve the look of their home.

Security

Safety and security are also essential considerations when it comes to upgrades. For example, a home security system can provide peace of mind while protecting against burglaries or other intrusions. Installing smoke alarms and carbon monoxide detectors is another way to promote safety in a new home.

Landscaping

Finally, upgrades to the landscaping and lawn often add a great deal of visual appeal to a property. Adding trees, shrubs, flowers, and other plants can make an outdoor area look inviting while increasing privacy and improving air quality. Installing an irrigation system helps maintain healthy grass and plants with minimal effort.

Truly Yours

By strategically upgrading a home’s interior and exterior, people can turn an ordinary house into a comfortable, attractive, and secure place to live. Whether it’s making improvements to the kitchen or bathroom, upgrading flooring or doors, installing safety devices, or landscaping the lawn – these are just some of the first upgrades people typically make when moving into a new home.

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Spruce Up

First, take some time to spruce up the exterior of your home. Plant colorful flowers or repair broken shutters and deck railings that have been neglected over the winter. Doing so will help to create a warm and welcoming atmosphere for your guests before they even step inside.

Fun & Games

Second, plan some fun activities to entertain your guests at your party. Consider setting up a games area with corn hole, ladder golf, or other outdoor games. Social games will keep everyone engaged and having a good time.

Atmosphere

Third, create an inviting atmosphere with decorations and lighting. Add festive banners and hang string lights around your porch or patio for a cheerful ambiance. You can also decorate the inside of your home with potted plants and streamers to give it a lively feel.

Food & Drinks

Fourth, have plenty of snacks and drinks ready to go. Ensure you stock up on food, beverages, and supplies before your guests arrive so you won’t have to make a last-minute run to the store.

Enjoy!

Finally, remember to enjoy yourself! Hosting a party can be stressful, but taking a few moments to relax and be present is important. You’ll want to savor all of the joyous memories being made with your loved ones! Following these tips will help you create a memorable spring party that everyone will enjoy. Happy hosting!

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Listings vs. Median Price Past & Present

Sometimes the best way to appreciate the present is by looking at the past. For example, before the late real estate boom of 2018, in January 2018, active listings were 49,395 with a median price of $212,000. Fast forward to January 2023, and we see active listings at 52,715 with a median price of $275,000. With all the ups and downs over five years, it’s exciting to see median home prices increase by nearly 30%.

Historic Months of Inventory vs. List Median Price

Remember in the previous chart; we showed how six months of inventory is a balanced market, under six months is a seller’s market, and over six months is a buyer’s market? Here we see how, before the boom after 2018 (Jan 2018), it was clearly a seller’s market with five months of inventory available and a median list price of $239,900. Jump ahead to January of 2023, and we see a sustained five months of inventory but a bump in the median list price to $299,00. That’s almost a 25% increase in the median list price over five years. Also, as expected, fewer months of inventory on the market command a higher list median price, as seen in February through May of 2022, where two months of inventory spiked prices into the $350,000 range.

Inventory on the Market vs. Close Median Price

Considering the natural balance between supply and demand, the lower the inventory, the higher the close median price. Consider January 2018, which had five months of inventory and a close median price of $215,000. As inventory declined through July 2018, you can see the close median price increase to $242,000 – a 12.6% increase. However, we don’t see a corresponding decrease to 2018 prices once inventory returns to a 5-months level. Instead, in January 2023, the last time there were five months of inventory available, the close median price was $279,000 – a retained increase of 29.7%. Other price pressures are at work, favoring the seller.

Historic Count of Active Listings vs. Days on the Market

If you’re looking for solace in real estate trends, compare the numbers from Jan 2018 to Jan 2023. In January 2018, there were around 50,000 listings on the market lasting about 35 days. Looking at January 2023, we see active listings approaching 60,000, staying closer to 45 days on the market. So looking at the five years between January 2018 and January 2023, you see an almost inverse relationship between the number of active listings and the number of days on the market. 

It’s clear that with short inventory, the days on the market are much lower in July 2021, with 37,642 homes in inventory spending eight days on the market vs. July 2018, 60,668, 21 days. Of course, the inventory is still shorter, but the market is unique.

Active Listings vs. Close Price To Original Price Ratio

In January 2018, there were 49,395 properties listed for sale, and transactions closed at an average of 97% of the original listing price. Fast forward to January 2022, when there were only 31,029 homes on the market, and transactions closed at 100% of the original listing price. This data suggests buyers are more likely to pay closer to the listing price as inventory becomes more scarce. 

Historic months of Inventory on the Market vs. Closed Median Price

Returning to January 2018, we see historic months of inventory hovering around a little over four-and-a-half months. Here, the corresponding closed median price rested around $275,000. You see a price drop when there’s a sudden gain in inventory. Jump to January 2023, and you will see the reverse happening. As inventory begins to dip from a near peak of just over five-and-a-quarter months of inventory at the end of 2022, prices similarly spike during the same period, finishing January of 2023 at $300,000. Remember, however, that the bump in price is because of the low inventory on the market during 2021-22.

Although factors like interest rates, lifestyle features, and commutability all play a part in a local real estate market, it is still difficult to escape the law of supply and demand. If people want something, they will find a way to get it. However, that doesn’t mean your search for a new home has to be challenging. Contact Mister Frisco, Viktor Taushanov, when you’re ready to find your dream home.

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The median existing-home price in Frisco for February 2023 decreased by 7.8% compared to the same period in 2022 to reach $575,000. Additionally, the median price for February 2023 declined by 7.7% compared to January of this year.

On the Market

The number of houses available for sale on the market has decreased to 175, which is 110.8% lower than at the same time last year. Moreover, there was a 9.79% decrease from January to February. With such low inventory levels, Frisco remains an extremely competitive real estate market.

Median Sales

The median sales of existing homes rose by 2.6% year-over-year, with 120 homes sold in February. Compared to January, home sales increased by 39.53%. The median days on the market for February were 27, which is 575.0% higher than the same time last year when it was just four days. This means selling a home in February takes 20 days less than in January.

Trends

Inventory on the market for January was again at a low of one month’s supply, which is still considered a sellers’ market. Pending sales decreased 33.8% year-over-year to 120 homes, while February pending sales were down 39.4% compared to January, with 94 homes pending. These figures suggest a negative outlook for existing home sales in the coming month.

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Love makes the world go around and should be shared freely with everyone, all the time. But most especially it should be shown to your nearest and dearest every day of the year, not just on February 14th.

It doesn’t even take a lot of effort; instead just start a habit (habits can be engrained after 30 days of intentional effort). Once you get it going it won’t be so hard to keep it going and think of the fun it will bring.

Begin and end each day with a conversation and I mean a REAL conversation, without distractions such as TVs, phones, social media and so forth. Make eye contact, if face to face, and smile. Smiles can be felt even through the phone. Try it! It reminds people they matter to you.

Hug your loved ones. A minimum of 20 seconds per real, full-bodied hug reinforces your connections with others and remains with you throughout the day. It lifts spirits and reduces blood pressure and stress. It is medically proven! And if you are hugging a child… be sure you are the LAST to let go.

Don’t forget the little things add up to be big things. Leave a thank you note, replace the toilet paper or other little gestures that you know will resonate with your significant other. Maybe it only takes restocking the fridge with favorite munchies before they ask or grabbing an extra ice cream when treating yourself. Actions speak volumes.

Tell them how you feel. Say “I love you” or ” I appreciate who you are”. Your words may make such a difference in their day and you might not even recognize how much they needed to hear it. Do it anyway. I promise you won’t regret it.

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