Frisco TX July 2012 Homes Sales Real Estate Market Report

by Loreena Yeo on August 24, 2012

 238 Frisco TX Homes Sold for $74,323,463 in August 2012

(Source: NTREIS Innovia on August 15 2012)

The lowest priced home sold for $85,000 in Frisco Original Donation near Downtown Frisco. It is a single family home with 2-bedrooms, 1 bathroom, 900 square feet, built in 1950. It took 19 days to sell.

The highest priced Frisco TX home was sold inStarwood for $ 1.45 Million – almost 7,000 square-foot 5-bedrooms, 5 full bathrooms, 1 half bathroom custom built Mediterranean estate. This home sits on almost 1/2 acre of beautiful backyard oasis, lots of natural lighting and upscale upgrades. It took 292 days to sell.

The average home in Frisco TX is $ 312,005. An average home in Frisco TX is a 3 bedrooms, 2 bathrooms, 3,143 square feet. The average price per square feet is $99/sq.ft. The average days on market to sell a home in Frisco TX is 61 days for August 2012.

The median sales price of Frisco TX homes is $276,250. This means half the homes sold in Frisco TX in August sold for less than $276,250 and half over $276,250.

Absorption Rate for August 2012 in Frisco TX is 12.25 weeks (4 1/4 months).

When inventory levels are at 6 months, it is a neutral market, ie. it is not a buyer’s neither is it a seller’s market.

The absorption rate for Frisco TX homes indicate that it is a NEUTRAL MARKET. A home sells when it is priced correctly and in great condition while a home sits on the market for a long time (over 90 days) if it is not priced correctly.

Some interesting facts about August 2011 and August 2011 2risco TX home sales numbers:

August 2012 August 2011

% Change

Number of Transactions 238 245  – 3.0 %
Total Sales (Real Estate Value) $ 74,257,130 $ 74,323,463 – 0.089 %
Average Sold Price $ 312,005 $ 318,946 – 2.0 %
Median Sold Price $ 276,250 $ 270,000  + 2.0 %
Average Days on Market 61 74 + 18.0 %

(Click on the Graph to enlarge)

Frisco TX Homes Sales Market Commentary:

There are 686 homes available for sale in Frisco TX (as of 8/16/2012). They range from $90,000 (an older home built in 1982, single story 3 bedrooms2 bathrooms in Preston Trace near Preston Road and Main Street, Frisco TX). The highest priced property is listed at $ 3.5 Million at Starwood. There are 47 listings over $ 1 Million Frisco TX luxury home estates to select from.

There are 251 pending contracts for the month of August 2012.

The August 2012 looks very robust and positive. However, sellers should not be jumping too soon to say that the market has recovered.

To date 2012, unlike the previous past 3 years – it looks as if the Frisco TX homes sales market are slowly coming out of the slow slump of the real estate housing market in Frisco TX. Starting January, we had a mild winter, which always helps start the momentum for real estate sales.

Many of us, real estate professionals were a little skeptical about such positive momentum back in April. In the previous years, the spring looked very robust but just as soon as soon May and June came around, the sizzle in the Spring did not follow through.

Thus far, in 2012,the Spring momentum and real estate sales in the overall Frisco TX market have been great. If you have been waiting for a long time to consider selling or buying, you could start considering again. The interest rates continued to be historically low. Or even if you are not selling, you may consider re-financing.

We had appraisal issues with home values causing many homeowners in Frisco TX to not be able to take advantage of low interest rates. Do check in with your favorite lender, or if you need a good one to discuss, just ask!

 

 

3:16 team REALTY represents home buyers & sellers in Frisco TX and surrounding areas. Call today to see how 3:16 team REALTY can specifically help you in your unique situation.
(214) 783-2210

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