Single-Family:
Sales were flat in Frisco in April as compared to a year age. The average sales price climbed by 10% while the median sales price was up by 11%. As in other areas, the shortage of homes for sale is creating problems for buyers and pushing up prices. Pending sales were up by 8%. There was a small increase of 3% in the new listings and 3% in the number of active listings. The months of inventory did increase to 1.5 months but this really doesn’t help much.
About 50% of the active listings are builders new homes.
Sales: 351
Average Sales Price: $377,027
Median Sales Price: $334,000
Pending Sales: 377
New Listings: 479
Active listings: 483
Months of Inventory: 1.5
Condos and Townhomes:
There are only a few condos and townhomes in Frisco. The numbers are not large enough to generate a meaningful report.
Leases:
Leasing activity increased by 17% in April. The average rent jumped 12% while the median rent went up by 9%. As in other areas, there was a huge jump of 162% in the number of pending leases. Last April's pending were extremely low causing this large increase this year. The new listings number was up by 27% and the active listings by 42%. While these increases are helpful, the months of inventory only moved up to 1.2 months. It’s harder to find a home to rent in Frisco than it is to find one to purchase.
Leases: 184
Average Rent: $2.069
Median Rent: $1,900
Pending Leases: 102
New Listings: 211
Active Listings: 187
Months of Inventory: 1.2
Information provided by The Real Estate Center at Texas A&M.l
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