So I Told You The Market In Frisco Is Great….Just Sayin…
One question every Realtor® gets asked frequently is "how's the market". I love to hear this question especially in today's hot Frisco TX marketplace. Right now (June 2012) we have 3.2 months of inventory which puts us firmly in a Sellers Market.
Definition of a Sellers Market is:
A market which has more buyers than sellers. High prices result from this excess of demand over supply.
Another way to look at the market is through the amount of Inventory.
Buyer's Market - more than 7 months of inventory.
Seller's Market - less than 5 months of inventory.
Balanced Market - from 5 to 7 months of inventory.
As I mentioned above we currently have 3.2 months of inventory in Frisco. If you are currently looking for a home you will notice that in Frisco there is a shortage of supply especially in the $175k - $275k range. So if you do find a home you like, put in an offer now, because if you don't somebody else will.
If you are thinking about listing your Frisco TX home then now is a great time to do so don't delay. This is the busiest time of the year with the schools out for the summer, the warm weather and more daylight all adding up to more buyers out there looking to buy.
Currently this year I personally have sold all my listings within 30 days with more than one home going under contract in less than 7 days and receiving multiple offers.
Below are the number provided by NTREIS. Real Estate Center at Texas A&M
May 2012 YTD - Single Family Residences
May 2012 Monthly Sales Closed - Single Family Residences