Single-Family:

Sales were up by 2% in July as compared to a year ago. The average sales price climber by 10% while the median sales price rose by 12%. Part of the price increase as in other areas is caused by sales being skewed to the upper price ranges.  Pending sales jumped up by 39% so we can count on a good August report. The number of new listings increased by a healthy 30% and the active listings by 22%. While it’s great to see the supply increase, this only moved the months of inventory to 2 months. Still a very low supply.

Sales: 463

Average Sales Price: $386,433

Median Sales Price: $345,000

Pending Sales: 416

New Listings: 565

Active Listings: 647

Months of Inventory: 2

Leases:

Leases increased by 6% in August. The average rent rose by 2% and the median rent by 3%.

Pending leases were up by 186%. The new listings fell by 1% but the active listings rose by 34%.

The months of Inventory climbed to q.6 months. It’s tough to find a good rental property in Frisco.

Leases: 235

Average Rent: $2,036

Median Rent: $1,850

Pending Leases: 160

New Listings: 285

Active Listings: 258

Months of Inventory: 1.6

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