Frisco, TX

The residential market in this ZIP code is currently categorized as Very Weak. The pending ratio stands at 0.20, down 2.2% over the past year, indicating a significant imbalance between supply and demand. While the median listing price shows a modest 1.2% increase month-over-month, it has declined by 0.5% year-over-year, suggesting underlying price discipline challenges. Active listings have grown by 14.1% over the past year, contributing to increased inventory pressure.

Over the past year, the market has seen a notable shift towards increased inventory, with active listings rising by 14.1%. This expansion in available properties is coupled with a 15.4% decline in new listings year-over-year, suggesting a cautious approach from potential sellers or a reduction in fresh supply entering the market. The median days on market has lengthened to 62 days, representing a 6.9% increase over the past year, reflecting a slower pace of transactions. Price discipline is evident, with 28.7% of listings having undergone price reductions, a slight increase of 0.7% over the past year. The median listing price has experienced a marginal 0.5% year-over-year decline, despite a 1.2% month-over-month increase, while the median price per square foot shows a slight 1.0% increase over the past year.

The current market dynamics suggest a significant adjustment in negotiating leverage. The low pending ratio of 0.20, coupled with rising active listings and an increase in days on market, indicates reduced urgency and a slower pace of transactions. This environment creates more opportunity for buyers to exercise price discipline and negotiate terms, as inventory pressure has intensified. Sellers face a market requiring strategic pricing and patience, as properties are taking longer to move and price reductions are more common.

Within the luxury segment, the average listing price of $1,256,192 is substantially higher than the median listing price of $875,000, underscoring a pronounced stratification at the upper end of the market. The average listing price has seen a robust 5.0% increase over the past year, outperforming the median listing price's year-over-year decline. The median price per square foot stands at $271, indicating the premium commanded by properties in this segment.