Known to have the best real estate market in the US (as that ranked in 2017), Frisco attracts the attention of a number of home buyers from various neighbouring regions in the country. So, if you too are planning to buy a new home in Frisco these days, this may be the wisest investment decision that you can ever make. However, as per the rule of every investment, you must be aware of everything that you are investing into.
So, to make sure you do not end up with a loss deal, keep track of the latest real estate trends in Frisco. Some of the major trends are mentioned below –
- Slowing Down Sales
According to the Collin County Association of Realtors, the sales of homes in Frisco decreased by nearly 35%, since June 2018. This decrease in sales is the result of the increased cost of construction, which is why people are not able to buy their desired homes, as per Collin County’s president.
- ‘In The Market’ For Long
With the decrease in the sales of Frisco homes, most of the residential properties are found to be available in the market for long. An average of 52 days is marked as the duration by which homes stayed in the market in May 2019. hence, it is certainly not a seller’s market these days. What’s most important here is that all Frisco real estate buyers can rejoice in the moment. You must know that a property that stays in the market for long is sold at a very low price. Hence, if you invest in such a property, it would be a feasible option for your pocket.
- Increase In Average Sale Price
The average sale price of homes in Frisco was recorded to be $470,071 in May 2019, which is an increase of 5% from the sale price registered a year before. Since, May 2019, there has been an increase of 4% in the property’s sale price. Further, it is expected that the prices of Frisco homes will fall -0.1% by 2020. Hence, you can surely bag an affordable deal in the near future.
- More Constructions In Frisco
In comparison to Plano, Frisco is reported to have more homes and better residential development. This also signifies that Frisco offers more homes on sale, which majorly include condos, multi-family units and town houses. Hence, you get a lot of housing options, when it comes to choosing the best affordable home for the family.
So, before you make any decision to purchase or simply invest in a residential property in Frisco, do keep these trends in mind, research the available options thoroughly and then make any decision.
Infographic provided by FlatIron Realty Capital, trusted rental property lenders