Frisco, TX Residential Sales Activity Report for October

SINGLE-FAMILY

Sales were down by 7% in October. The average sales price increased by 17% while the median sales price was up by 11%.  Pending sales were down by 2%. The number of new listings increased by 7% but the number of active listings still declined by 6%. The months of inventory remains very low at 1.6 months. It’s very difficult to find a home in Frisco.

Sales: 279

Average Sales Price: $377,991

Median Sales Price: $311,000

Pending Sales: 253

New Listings: 323

Active Listings: 525

Months of Inventory: 1.6

CONDOS AND TOWNHOUSES

There are very few condos and townhouses in Frisco so the numbers can be volatile.

Sales were up by 50% in October. The average sales price increased by 5% and the median sales price increased by 9% compared to October of last year. The number of pending sales increased by 43%. The new listings were up by 9% while the active listings decreased by 36%. The months of inventory stands at 0.8 months! If you are trying to buy a condo or townhouse in Frisco it’s more difficult that trying to find a single-family to purchase.

Sales: 18

Average Sales Price: $221,831

Median Sales Price: $226,250

Pending Sales: 10

New Listings: 12

Active Listings: 14

Months of Inventory: 0.8

LEASES

Leases were up by 18% in October. The average rent increased by 1% and the median rent was flat. Pending leases increased by 163%. There was a sharp increase of 24% in the  number of new listings and a 48% increase in the active listings. While these appear to be large increases in the number of properties available, the months of inventory is only 1.7 months. A very short supply!

Leases: 124

Average Rent: $1,911

Median Rent: $1,700

Pending Leases: 63

New Listings: 181

Active Listings: 233

Months of Inventory: 1.7

Information provided by The Real Estate Center at Texas A&M.