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.

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With so much news around a recession and rising interest rates, choosing the right time to sell isn’t easy. Of course, if getting the most for your house is your only concern, you can wait out a down market. But relocations, job changes, or new family needs can press the issue. So here are a few facts about the real estate market for the end of January. 

Pricing

Median prices for existing homes in the DFW area over the past 12 months have been flat, reaching an average price of about $335,000. In December, that price declined by 0.7% when compared to November. So overall, housing prices in DFW have been declining for the last seven months. Not necessarily bad if you have to sell, and not necessarily an immediate notice to buy a home if you’re in the market.

Inventory

Inventory on the market increased by 78% compared to the same time last year, with 17,000 houses for sale. Overall, market inventory decreased by 17.7% in December compared to the available inventory in November. People appear uncomfortable putting their properties on the market.

Existing Home Sales

Median existing home sales over the past 12 months are also down by 39.8%, reaching 5,904 homes sold. Those sold in December decreased by 3.3% as compared with November. This decrease indicates market activity has been slowing for the last five months. People are taking longer to decide to sell.

Days on the Market

For those who do choose to sell, the median amount of time a home for sale spends on the market is increasing. Over the past 12 months, a home for sale has spent about 32 days on the market, up eight days in December compared to November. This increase may be keeping the supply of inventory on the market low. On the other hand, decreasing supply for the last two months keeps this a strong seller’s market.

So if you decide to sell now, you may not get the price you hoped for, but you won’t be stuck in a home you want to sell for very long. It’s still a strong seller’s market when viewed from the supply side, even if prices are slipping slightly. The best-case scenario starts with partnering with the right realtor. I’m Viktor Taushanov, Mister Frisco, and I can help you sell your existing home at a price you can be satisfied with. Contact me today, and let’s get the most for your home.

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The median home value in Addison has gone up 1.7% since this time last year. From roughly $202,000 in 2014, to just over $206,000 now. Additionally, home values are predicted to rise another 2.0% within the next year.

The median list price per square foot and the median rent price data, were not collected for this study.

The first step of the foreclosure process happens when a homeowner fails to make a mortgage payment. This is known as mortgage delinquency. The percent of delinquent mortgages in Addison is 9.2%, slightly lower than the national value of 6.0%.

U.S. home values have fallen by more than 20% nationally from their peak in 2007, until their trough in 2011. Many U.S. homeowners are now considered under water on their home mortgages. While some Dallas homeowners have literally found their homes under water, for the sake of this study, under water means homeowners owe more on their mortgage than their home is worth. 21.7% of Addison homeowners are under water, which is lower than the Chicago Metro area average of 23.7%.

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