Single-Family:

Sales in the Frisco area were up by 10% in May as compared to a year ago. The average sales price increased by 7% while the median sales price was up by 9%. Pending sales showed a slight 2% increase. The number of new listings fell 11% and the active listings dropped 1%. The months of inventory remained at 1.6 months. About 33% of the active listings are builder’s new homes. The average sales price of a builder’s home is $505,738.

Sales: 405

Average Sales Price: $388,994

Median sales Price: $349,000

Pending Sales: 376

New Listings: 494

Active Listings: 532

Months of inventory: 1.6

Leases:

Leases jumped 23% in May. The average rent increased by 4% and the median rent by 3%. Pending leases climber by 112%. The number of new listings increased by 13% and the active listings by 57% . Unfortunately these increases only increased the months of inventory to 1.3 months. It’s a very tight market.

Leases: 220

Average Rent: $2,042

Median Rent:$1,900

Pending Leases: 125

New Listings: 253

Active Listings: 211

Months of Inventory: 1.3

Information provided by The Real Estate Center at Texas A&M.