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

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