Dallas Area Residential Sales Report for May – Frisco, TX
Sales shoot up along with prices!
Single Family home sales shot up 53% compared to last May. Pending sales however fell 3%. Looks like buyers just ran out of homes to buy. The average sales price climbed 24% while the median sales price rose 28%. Buyers were having to move up in the price ranged to find that dream home. New listings fell 4% and with all the purchases, the number of active listings dropped 75%. The months of inventory now stands at 0.5 months. That means that at current absorption levels that supply of available homes wood be exhausted in 15 days.
Average Sales Price: $636,770
Median Sales Price: 543,250
Pending Sales: 436
New Listings: 450
Active Listings: 160
Months of Inventory: 0.5 months
Information provided by The Texas Real Estate Center
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