Prices Are Up

The cost of buying a home in Frisco has gone up. In February, the middle price range for homes that were sold reached $633,000. This is a 12.5% jump from the same time last year. Even from January to February, prices went up by 2.92%. So, homes are definitely getting more expensive.

More Homes Available

If you’re looking to buy, there’s some good news. There are more homes available now than there were last year. The number of houses for sale has increased by 56% compared to last year, with 273 houses currently on the market. From January to February alone, the inventory of available homes rose by 30%. This means buyers have more options to choose from.

Sales Have Slowed Down a Bit

Even though prices are up and more homes are available, fewer homes are actually being sold. In February, 129 homes were sold, which is 5.1% less than the same time last year. However, compared to January, home sales went up by 25.2%. So, while there’s been a bit of a slowdown in sales from last year, things picked up from the month before.

Homes Are Selling Faster

Homes in Frisco are selling pretty quickly. On average, a home was on the market for just 21 days in February. That’s faster than last year and 14 days quicker than in January. This means that, despite some ups and downs, there’s still a lot of interest in buying homes, and when the right home pops up, it sells fast.

Fewer Pending Sales

Pending home sales, or homes that are under contract but still need to be closed, are also down. In February, there were 11.5% fewer pending sales than the same time last year, with 115 homes waiting to close. Compared to January, pending sales dropped by 8.7%. This suggests that the market might be slowing down a bit, as fewer deals are being made.

Still a Seller’s Market

Even with some signs of slowing, Frisco is very much a seller’s market. With only 1.8 months’ worth of homes available, sellers are in a strong position. This means there are more people looking to buy homes than there are homes available, which often leads to competitive offers and quick sales.

The Frisco housing market is experiencing some interesting changes. Prices are up, and there are more homes to choose from, but the pace of sales has slowed a bit. Homes are selling quickly, though, and it’s still a great time to sell with the market leaning in favor of sellers. If you are wondering why Frisco homes are selling fast, follow Mister Frisco for more market updates and expert guidance!

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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.

The post How Quickly Are Houses Selling in Frisco this January? appeared first on MIsterfrisco - Realtor in North Dallas.

Home Prices are Going Up

The median home price in Frisco in September is $693,000. That’s a 9.1% jump from last year and a 1.2% increase from August. Good news for homeowners and sellers as the value of houses in Frisco continues to climb. The robust real estate market in Frisco is not only benefiting homeowners and sellers, but it also reflects the city’s growing appeal as a prime destination for both residents and investors alike.

Fewer Homes for Sale

There are 18.5% fewer homes on the market compared to last year, with only 340 houses currently up for grabs. That’s also a 7.4% drop from August. With fewer choices out there, buyers need to make quick decisions. The limited inventory of available homes, coupled with the decreasing trend in supply, puts pressure on buyers to act swiftly and make well-informed decisions in the competitive Frisco real estate market.

Sales Have Slowed a Bit

In September, 165 homes were sold, which is a slight decrease of 2.4% from last year and a 6.8% drop from August. Despite this, the value of homes remains strong due to higher prices. Houses in Frisco stayed on the market for an average of 22 days. This is longer than last year and seven days more than in August. This gives buyers extra time and negotiation power.

Pending Sales are Down

With only 127 homes pending sale in September, there was a 26.6% drop from last year and a 25.7% decrease from August. This trend might signal a slowing market, creating chances for eager buyers soon.

Still a Market for Sellers

Frisco is still very much a seller’s market, with homes lasting, on average, 2.2 months, slightly less than last year. This means it’s still a good time for homeowners thinking about selling.

Maximize Your Home Investment in Frisco

In Frisco, while the cost of homes keeps increasing, making sellers happy, the slowing sales and longer market times might bring opportunities for buyers. With changes in the market, careful planning is key, and Mister Frisco is here to help guide you through buying or selling, providing the needed support and knowledge for smart housing decisions in Frisco.

Home prices on the rise in Frisco! Reach out to Mister Frisco today for expert guidance and make well-informed decisions whether you’re buying or selling your home in Frisco.

The post Home Prices on the Rise in Frisco appeared first on MIsterfrisco - Realtor in North Dallas.

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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