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 ground has been broken on the 80-acre Railhead development in Frisco. First proposed in 2017, this long-anticipated addition to Frisco is well underway. According to FriscoEnterprise, “…The Railhead in Frisco an 80-acre mixed-use development that is set to include multifamily units as well as a restaurant, retail, hotel, and office use and a five-acre Klyde Warren-esque park.”

Railhead Development

Heady Investments of Plano, Texas, is the master developer for the site just off the Dallas North Tollway near Toyota Stadium and Wakeland High School. “We love being in the city of Frisco; we’re no strangers to the city of Frisco,” said Sayres Heady of Heady Investments, adding that the company was previously behind the Frisco Bridges Place office building. “So we feel really fortunate to be back. The city is wonderful to work with. They’ve really stood behind us.” 

Jim Newman

According to the article, Jim Newman’s family has been in Frisco for over 100 years. “This project has been many years in the making,” says Newman Real Estate. Also, “The partnership also includes multifamily developer JPI, which has already broken ground on the first phase of multifamily development, Heady said.”

What’s In-Store? – Development!

The Railhead development plan includes “…1,280 class AA multifamily units in addition to restaurant and retail pads, office and hotel space and the urban park, which Heady said is expected to include a dog park, food trucks, and playground space.” Healy adds from the article, “the outlook includes a potential 1 million square feet of office development with the potential for as much as 2 million…We are talking to a number of restaurants, retailers, medical users and most notably a large amount of office space, both from developers in state and out of state that have expressed interest,”

Globus Realty is your best resource to stake your claim in Frisco. Trust Mr. Frisco to find your perfect home in a highly-competitive market so you can enjoy your slice of paradise in Texas’ fastest growing community.  The groundbreaking on the 80-acre Railhead development adds new development to Frisco. Don’t miss out!

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What’s New at H-E-B Frisco?

According to the article, Frisco shoppers will get to enjoy 

• A full-service H-E-B Pharmacy with a drive-thru; 
• Texas Backyard department, featuring outdoor essentials;
• True Texas BBQ restaurant with a drive-thru named the best barbecue chain in Texas by Texas Monthly and a top barbecue chain in the nation by Thrillist. 
• H-E-B Curbside and Home Delivery

Same Great Quality

Frisco shoppers can rely on finding popular H-E-B Tough brands and familiar store offerings in their bakery, meats, and produce departments. Specialty items unique to H-E-B include freshly made tortillas from the bakery and sushi in the deli. In addition, residents can enjoy the Cooking Connection when they need an idea for a meal or a little extra know-how, offering live demonstrations and samples for easy-to-make home recipes.

Specialty Meats

There’s no doubt you can find prime Texas beef in the H-E-B meat case, but Frisco residents can also enjoy exotic cuts like Wagyu dry-aged beef alongside prime, natural, and organic meats. There will also be a generous selection of fully-cooked meats for quick meals. With a selection like this, the grilling season can run all year long.

Trusted Brand

The article concludes, “Building on H-E-B’s longstanding presence in the area with its Central Market stores, the move into Frisco reinforces the retailer’s commitment to serve more customers in this dynamic and growing part of Texas. Regularly recognized as a top employer in the nation, H-E-B will offer positions that range from department managers to cashiers. H-E-B will post all job opportunities to our H-E-B Careers site in the coming months. It’s expected that the Frisco store will employ approximately 425 Partners (employees).”

You need a partner to navigate the competitive Frisco real estate market. Globus Realty is the guide you need to find the lifestyle you deserve. H-E-B is coming to Frisco. Trust Mr. Frisco to help you find your dream home today!

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According to the University of Scranton, Journal of Clinical Psychology the top 10 resolutions for last year were as follows:

1) Lose weight

2) Get Organized

3) Reduce Spending, Increase Savings

4) Better enjoy life; live to the fullest

5) Focus on health and fitness

6) Self educate

7) Quit smoking

8) Support/assist others dreams

9)Fall in love

10) Increase quality family time

Now, how quickly do our goals and resolutions fall to the wayside as lives get busy and we find ourselves prioritizing or procrastinating… what, me?? Yes, you!

Of the 45% of Americans that do set New Year’s resolutions, only 49% reach moderate success. And a measly 8% find complete success. What is the trick?

If you seriously have a goal for 2015, make it more specific and attainable rather than broad with no clear definition of success. For instance, don’t say you want to enjoy life more… decide what exactly that would look like and break it down into pieces and parts that can be managed in chunks.

You want to lose weight or quit smoking? Find out what is truly reasonable in those fabulous goals. How much weight a week is healthy and what does it take to get there? Make a plan…develop a recipe list for each week, shop with intention, start a fitness class, enlist an accountability partner.

If you really want it to happen it will, with proper direction of course. Good luck!!

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Technology, communication and transportation are Frisco focuses in the new year, as improvements in these areas can change on a dime. It is important for Frisco businesses to stay on top of the local developments as well, as they will be impacted in a myriad of ways.

Additionally, demographics are always adjusting, so businesses should stay on top of trends as the old ways of doing business may have some inadvertently left behind. The Frisco Chamber is here to keep you updated with changes in area trends and statistics.

Tollway projects which will improve traffic and congestion to and from local businesses and open up space for corporate ventures and corporate expansion, additionally garnering positive media attention both on the local and national scope.

The Frisco Chamber of Commerce is actively working to maintain ongoing programs and planned events to the benefit of area businesses. For instance, a great deal of notoriety may be cited to the Frisco Chamber’s Strategic Plan which will carry on into 2015 with an emphasis on members and improving the benefits and value they receive through their chamber membership. A couple of examples are the Four-Star Accreditation with the U.S. Chamber of Commerce involvement in the 2015 legislative session in Austin to maintain a strong Texas wide business climate.

Continued work in Austin pushing for more transportation and construction funding will help to further Frisco’s growth and development which is only positive for our local businesses and residents.

While we expect strong local projects and job growth in Frisco, national influences will have impact, like always. The Chamber actively works to watch national issues and anticipate local impact to protect our own. The Chamber is always welcoming new businesses and maintaining those existing relationships in the best ways possible.

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Still need a tree?? Be sure to visit the Christmas Tree Lot in Frisco’s Christmas Square, sponsored by the Frisco Boy Scout Pack 51, Charted by the First Methodist Church in Frisco. Christmas trees may be found in all sizes and types, ranging from 5′ to 12’ in height. Types available include Douglas and Fraiser Firs and Scotch Pines at reasonable prices for your family’s enjoyment. The Frisco Christmas Tree Lot will be open for business through December 20th from 5 pm to 9 pm Monday through Friday, 9 am to 9 pm Saturday, and noon to 8 pm Sunday.   The best trees go fast, so you better hurry!

Everyone needs to experience the thrill of an open carriage ride, especially when the brisk winter spirit surrounds us. North Star Carriage will be offering rides throughout Frisco Square every Thursday through Sunday evening until January 3, 2015. Only $6 per person, carriages may be found on the lot next to Sake Toro. To be sure a holiday carriage ride through the Frisco Square it is will add a special night to remember to this season’s memory trove.

Last by not least be sure to check out all the fun to be had at the Dr. Pepper StarCenter for all kinds of holiday activities for the family. Be sure to walk through the Drop N’Shop, enjoy the Skate with Santa and the Winter Festival on Ice, and don’t pass up the photo ops in Winter Wonderland.

So, as you can see, it is not too late to get in some great holiday memory making activities, including the requisite photo with Santa Claus. Frisco has it all!

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Addison always offers fun and festive events throughout the year and Christmas is no exception. This year, make sure you don’t miss Vitruvian lights in Vitruvian Park. Lights are on daily from 6 to 10 pm at 3850 Ponte Avenue through January 1, 2015.

Everyone will enjoy the park festivities that accompany the millions of twinkling lights such as photo opportunities with Santa and the Holiday Bear, a kids’ Elf balloon artist for the kiddos.

The Holiday Shopping Village will appeal to all ages, as will the live concerts complete with onsite food and dessert vendors and a full scale beer/wine garden for those of legal drinking age. Admission to Vitruvian Lights is free to all with onsite parking. Additional off-site parking is available at Alfred J. Loos Sports Complex.

If you would like to encourage your charitable side we ask for participation in the annual Marine Corps Reserves Toys for Tots gift drive, which is hosted by the local Firefighters Association. Please drop off new, unwrapped toy donation to either the Addison Fire Department via any local fire station, through the Addison Town Hall, or the Addison Service Center on Westgrove.

You may even want to try the Santaland Diaries at Addison’s Watertower Theatre for some off-beat, yet hysterical musical madness for the holiday stress relief and a unique type of date night. Be sure to check out the reviews for The Great American Trailer Park Christmas Musical. It just might be the holiday levity you are seeking!

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