Frisco, TX

The local housing market exhibits very weak conditions, characterized by significant year-over-year declines in median and average listing prices, coupled with an increased supply of active and new listings. Price reductions are elevated, reflecting current market dynamics.

The median listing price currently stands at $717,450, representing a modest month-over-month increase of 0.8% but a notable year-over-year decrease of 7.9%. Active listings have expanded significantly, up 25.1% year-over-year to 254 units, while new listings have also risen by 36.4% year-over-year to 60 units. The median days on market is 59, a slight improvement of 6.3% compared to the prior year. However, the share of price-reduced listings has grown to 35.1%, an increase of 4.6% year-over-year. The pending ratio is 0.22, a 6.0% decrease from the previous year, indicating reduced demand relative to supply.

The current market dynamics suggest a diminished sense of urgency among buyers and a necessity for price discipline from sellers. The substantial year-over-year growth in both active and new listings, coupled with a declining pending ratio, indicates increasing inventory pressure. While median days on market shows some efficiency, the high proportion of price reductions reflects the prevailing environment where pricing competitively is crucial for transactional success.

The average listing price of $920,297 is significantly higher than the median listing price of $717,450, pointing to a distinct luxury segment within the market. This spread suggests that higher-end properties command a premium. The median price per square foot is $230.