Dallas Area Residential Sales Report for June – Frisco TX
Sales in Frisco were hit hard in June declining 24% as compared to last June. Pending sales were a little better only down 11%. With declining showings and a number of price reductions, I do not anticipate a positive sales number for July.
The average sales price did increase by 3% and the median sales price rose 2%.
The number of new listings fell 6% but the active listings rose 22% taking the months of inventory to 3.9 months. this is as high as its been for a number of years.
Continued declines in sales coupled with increasing inventory will move this market into a balanced supply very quickly. Sellers need to understand that the market is changing and price their properties accordingly.
Average Sales Price: $456,299
Median Sales Price: $408,000
Pending Sales: 390
New Listings: 623
Active Listings: 1,268
Information Provided by The Real Estate Center
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