Frisco Texas Market: 12 month analysis

Frisco, Texas

July Market analysis:

Today, Omega Mejia, expert real estate agent for the North Dallas Regional Area,  will delve into the fascinating world of real estate metrics and explore the correlations between some key indicators that are of utmost importance to both buyers and sellers. So, let's dive right in to the Frisco Texas real estate metrics!

Firstly, let's examine the Months Supply of Inventory, which currently stands at 2.32. This metric represents the number of months it would take to sell all the available homes in the market, assuming no new listings are added. A lower number suggests a seller's market, indicating high demand and potentially driving up prices.

Now, let's consider the 12-Month Change in Months of Inventory, which showcases a decline of -13.43%. This reveals a significant decrease in the number of months it would take to sell all the available homes compared to the previous year. Such a decline signifies a tightening market, with homes being sold at a faster pace.

Moving on, we come across the Median Days Homes are On the Market, a metric that currently stands at a mere 19 days. This indicates that homes are selling relatively quickly, which is excellent news for sellers. Buyers, on the other hand, might need to be prepared to act swiftly in order to secure their desired property.

Next, we have the List to Sold Price Percentage, which currently sits at an impressive 99.6%. This metric measures the percentage of the listing price that a home ultimately sells for. A higher percentage implies that sellers are able to secure close to their asking price, indicating a strong seller's market and potentially leading to multiple offers.

Lastly, we have the Median Sold Price, which currently stands at a substantial $702,000. This metric represents the midpoint of all the homes sold in the market, showcasing the prevailing market price. This figure serves as a vital reference point for both buyers and sellers in determining their own pricing strategies.

Now, let's analyze the correlations between these metrics. The low Months Supply of Inventory, combined with the declining 12-Month Change in Months of Inventory, suggests a tightening market with high demand and homes being sold at a faster pace. Furthermore, the Median Days Homes are On the Market being only 19 days solidifies this notion of a fast-moving market.

The List to Sold Price Percentage of 99.6% indicates that sellers are able to command close to their asking prices, which in turn contributes to the high Median Sold Price of $702,000. These metrics together reflect a robust seller's market, potentially leading to increased competition among buyers.

For buyers, this means they should be prepared to act quickly and make strong offers in order to secure their desired property. On the other hand, sellers can take advantage of the current market conditions to potentially achieve a higher sale price and a quicker sale.

In conclusion, the correlation between these real estate metrics paints a vivid picture of a dynamic and vibrant market. Buyers and sellers alike should be aware of the current state of the market and adjust their strategies accordingly. With low inventory, a declining supply, homes selling quickly, and strong prices, it is an exciting time for both parties in the real estate arena.

Selling prices fluxuate between each Frisco Texas community due to several factors.  Sellers, ask Omega Mejia what your home is worth and how you can sell your home, now, during a favored sellers market.  Buyers, ask how you can Omega Mejia can assist you with resources to finacially prepare for you future home.