Extremely low inventory is causing trouble for buyers.
Dallas Area Residential Sales Report for January – Frisco, TX
We saw a 20% decline in the number of home sales during January. Pending sales were a little better only off by 12%. The problem is that buyers just can not find the home they want with the extremely low supply available. New listings are not helping down 33% and the active listing were 82% lower. The months of inventory stands at 0.3 months. These low inventories coupled with heavy competition from a lot of buyers after the same house is pushing price up sharply. The average sales price increased by 20% in January compared to last January and the median sales price rose 21%.
Sales: 168
Average Sales Price: $523,801
Median Sales Price: $465,000
Pending Sales: 264
New Listings: 239
Active Listings: 107
Months of Inventory: 0.3
Information provided by The Real Estate Center
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