Frisco, TX Residential Sales Report for March

Single-Family:

Sales were flat in the Frisco area in March. The average sales price increased by 5% while the median sales price climber by 8%. As in most other areas of the Metroplex, buyers are having a hard time finding houses to purchase due to the shortage of inventory.

The pending sales increased by 8%. There was a 9% increase in new listings and a 2% increase in the active listings. A little over 60% of the active listings in MLS are builder’s new homes. The months of inventory now stands at 1.4 months.

Sales: 313

Average Sales Price: $383,025

Median Sales Price: $346,560

Pending Sales : 322

New Listings: 424

Active Listings: 462

Months of Inventory: 1.4

Condos and Townhouses:

There are not enough condos and townhouses in Frisco to justify a report.

Leases:

Leases were up by 34% in March. The average rent increases by 7% and the median rent by 5%. Pending leases jumped 126%. New listings were up by 31%. Active listings increases by 59%. While the months of inventory did increase, we still only have a 1.4 months supply for rent.

Leases: 153

Average Rent: $1,997

Median Rent: $1,840

Pending Leases: 88

New listings: 202

Active Listings: 207

Months of inventory: 1.4

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

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