Dallas Area Residential Real Estate Report

Thursday, June 4, 2015

And You Think Our Homes Prices are Up

Tiny 2.8 metre wide terrace sells for almost $1 million http://news360.com/article/294102405

Frisco Tx, Residential Sales Report

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