Good day, everyone! I’m Marie Walton, a REALTOR® with Ebby Halliday, REALTORS, and I’m thrilled to bring you the latest market update for August 2023 here in the vibrant city of Frisco, Texas.

Frisco continues to be a hotspot for both buyers and sellers alike, with its thriving economy, excellent schools, and a wide range of recreational amenities. So, whether you’re looking to buy or sell a home, this market update is designed to keep you informed and engaged.

Let’s dive right into the numbers that matter. Currently, we have a 2.42 Months Supply of Inventory in Frisco. That means, if no more homes were listed, it would take 2.42 months to sell all the existing inventory based on the current sales pace. And here’s the exciting part, over the last 12 months, we have seen a decrease of 23.66% in the Months Supply of Inventory.

This reduction indicates a tightening market, which can be favorable for sellers as it potentially leads to increased demand and higher prices. So, if you’re considering selling your home in Frisco, now might be a great time to take advantage of these market conditions.

Speaking of prices, let’s talk about the List to Sold Price percentage in Frisco. Currently, homes are being sold at an impressive 98.7% of their listing price. This indicates that sellers are receiving offers very close to their asking price, demonstrating the strong demand and competitiveness within the market. Buyers, it’s essential to be prepared and work closely with a REALTOR® who can guide you through the negotiation process.

Now, let’s touch on the median days on market. In Frisco, homes are spending an average of just 25 days on the market before being sold. This statistic highlights the high demand and the desirability of properties in our city. Buyers, be prepared to act quickly to secure your dream home in this competitive market.

And finally, let’s discuss the median sold price in Frisco, which currently stands at an impressive $699,500. This figure represents the midpoint of all home sales in the area, and it’s a testament to the value and quality of properties in Frisco.

In summary, the Frisco real estate market is thriving, with a decrease in Months Supply of Inventory, a high List to Sold Price percentage, a short median days on market, and a strong median sold price. Whether you’re a buyer or a seller, now is an exciting time to explore the opportunities available in our beautiful city.

Thank you for dropping in on this market update. If you have any questions or would like personalized advice about buying or selling in Frisco, please don’t hesitate to reach out. Until next time, stay informed and stay engaged. Happy home hunting, everyone!