Dallas Area Residential Sales Report for February – Frisco, TX
Sales down but prices up sharply
It’s hard to tell how much the weather had to do with the declining sales or was it the shortage of homes for sale or maybe rising interest rate but sales fell 10% and pending sales dropped 37%. The average sales price climber 22% while the median sales price rose 21%. New listings declined 46% and active listings came in 81% below last February’s number. The months of inventory is now at 0.4 months. A balanced market is considered a 6 month supply. This is really a difficult time for buyers!
Sales: 218
Average Sales Price: $562,174
Median Sales Price: $485,000
Pending Sales: 209
New Listings: 200
Active Listings: 121
Months of Inventory: 0.4
Information provided by The Real Estate Center
Marie Sells Dallas 