Hey there, everyone! Welcome back to another market update with Marie Walton, your trusted REALTOR® from Ebby Halliday, REALTORS. I hope you all are having a fantastic day. Today, we’re going to dive deep into the current real estate market in Crown Ridge, Frisco, TX. So whether you’re a buyer or a seller, this update is for you!

Alright, let’s get started with some exciting numbers. As of June 2023, we currently have a 3.1 Months Supply of Inventory in Crown Ridge. What does this mean? Well, it tells us that if no new listings were to come on the market, it would take approximately 3.1 months to sell all the existing homes. This indicates a strong seller’s market, where demand exceeds supply.

Now, let’s take a look at the trend over the last 12 months. Drumroll, please! We’ve seen a remarkable -13.17% decrease in the Months Supply of Inventory. Simply put, the market has become even more competitive for buyers, as the number of available homes has decreased. Sellers, on the other hand, can benefit from this trend, as it suggests a higher chance of selling their homes quickly.

Moving on, let’s talk about the List to Sold Price percentage. In Crown Ridge, sellers have been experiencing a fantastic 99% of their list price. This means that, on average, homes are selling at 99% of their initial asking price. Sellers, take note of this impressive number as it demonstrates the strong demand and the willingness of buyers to pay top dollar.

Alright, let’s shift our focus to the average number of days a property stays on the market. In Crown Ridge, the median days on market is currently 44. This means that, on average, it takes 44 days for a property to go under contract from the day it’s listed. Now, keep in mind, this number can vary depending on factors like price, location, and condition. However, it’s a good benchmark to gauge market activity.

And now, the moment you’ve all been waiting for – the median sold price in Crown Ridge! Can I get a drumroll, please? *drumroll sound effect* The median sold price is a whopping $702,000! This means that half of the homes sold in Crown Ridge have been above this price point, and half have been below. It’s an exciting time for sellers in Crown Ridge, as the market continues to show strong appreciation.

Alright, folks, that wraps up our market update for Crown Ridge, Frisco, TX. I hope you found these numbers as fascinating as I did. Whether you’re looking to buy or sell, it’s crucial to stay informed about the current market conditions. If you have any questions or need assistance navigating the real estate process, don’t hesitate to reach out to me, Marie Walton, your dedicated REALTOR® at Ebby Halliday, REALTORS.

Thank you for joining me today, and remember, the real estate market is always changing, so stay tuned for more updates. Don’t forget to hit that subscribe button and give this blog site a thumbs up Until next time, take care and happy house hunting or selling!