Single-Family:
Sales were flat in Frisco for June. The average sales price rose 11% and the median sales price was also up 11%. Pending sales were up by 3%. The number of new listings increased 4% while the active listings were up by 5%. The months of inventory is now at 1.7 months.
About ⅓ of the active listings are builder new homes. As in previous months some of the increase in sales prices are attributable to the sales being concentrated in the upper price ranges.
Sales: 466
Average Sales Price: $392,713
Median Sales Price: $349,900
Pending Sales: 366
New Listings: 525
Active Listings: 563
Months of Inventory: 1.7
Leases:
Leases were up 5% in june. The average rent increased by 5% while the median rent climbed 8%. Pending leases rose 174%. The number of new listings jumped 35% and the active listings 51%. Unfortunately theses increases only lifted the months of inventory to 1.6 months. Still a very tight market.
Leases: 204
Average Rent: $2,109
Median Rent: $1,950
Pending Leases: 148
New Listings: 317
Active Listings: 215
Months of Inventory: 1.6
Information provided by the Real Estates Center at Texas A&M.
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