Single-Family:
Sales were off by 9% in Frisco for January. The average sales price increased by 14% while the median sales price was up by 11%. As in other areas, the sales were down because buyers are having a hard time finding a house to buy due to the extremely small inventory. this small inventory is also the reason prices are continuing to climb. The pending sales were of by 13%. The number of new listings dropped by 16% and the active listings by 8%. The months of inventory fell to 1.3 months.
Sales: 163
Average Sales Price: $366,931
Median Sales Price: $335,000
Pending Sales: 200
New Listings: 279
Active listings: 421
Months of Inventory: 1.3
There are not enough condos and townhouses in Frisco to make a meaningful report.
Leases:
Leases were down by 5%. the average rent was flat and the median rent increased by 1%.
Pending leases jumped by 92%. the number of new listings increases by 33% and the active listings by 50%. These increases really did not help because the months of inventory is still very low at 1.3 months.
Leases: 135
Average rent: $1,870
Median Rent: $1,800
Pending Leases: 73
New Listings: 177
Active Leases: 189
Months of Inventory: 1.3
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