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!

The post Frisco Real Estate: A Simple December Overview appeared first on MIsterfrisco - Realtor in North Dallas.

Prices and Availability

Home prices are up, with the median price in July reaching $686,500, a 2.8% increase from last year and a 9.6% rise from June. More homes are on the market, too, with 374 houses available, 25.6% higher than last year. Mister Frisco can help you find the perfect fit within your budget.

Sales and Time on the Market

Sales are slowing down, with 15% fewer homes sold than last year and 10.6% fewer than in June. Homes are taking a bit longer to sell, with a median of 12 days on the market. Whether you’re buying or selling, Mister Frisco has the insights to make the process smooth.

Pending Sales and Market Trends

Pending sales decreased by 15.3% from last year and 22% from June with 2.3 months’ supply. Traditionally, the decrease in pending sales and sale along with the increasing inventory shows that the market is slowing down. This slight slowdown means choosing the right realtor is critical. If you’re looking to sell, Mister Frisco can guide you to make the most of this advantage.

Whether buying your dream home or selling for the best price, Mister Frisco is here to help you navigate those 12 days on the market.

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