Real Estate markets have their cycles and no matter what the cycle there is good and bad. Depending on if you’re a seller or home buyer, different seasons do affect home sales and activity.
If you’re thinking about buying or selling a home in Frisco Texas during the winter months, it’s important to understand the impact of the season.
Take a look at the local MLS stats.
Closed sales in May-July 2021 equal 1161 properties. Closed sales from October – December of 2021 totaled 752.
This is a 42% decrease in sold homes.
Closed sales in May – July 2022 equal 827
Closed sales October – November is 322 with an average of 5 homes per day calculating year end to be roughly 483
In 2022 we are seeing a 52% drop in home sales and activity.
So, Yes there is a drop in Activity, and as we can see there is a 10% difference from 2021 to 2022
So we might conclude that there is a slowing of the market in the winter months, but there’s a catch.
We’ve been experiencing a supply and demand imbalance in the Frisco area for the past couple of years. This has increased listing and sales price, reduced days on market, and honestly caused a frenzy in the Frisco Real Estate Market.
According to the local MLS stats.
In the Spring of 2021 the Median Sales Price was $550,000 and $588,000 in the winter=
While Median sales price in May of 2022 was $702,000 and Winter is currently $630,000
So YES, The fourth quarter is typically the slowest of the year, but according to the experts High demand is still there because of two things.
If you’re thinking of buying a home NOW may be a great time to purchase because the sellers are serious, New Construction has a need to move inventory, and some investors are looking to clear all or part of their portfolio before the year ends for tax purposes.
Also, we are finding that there are lower number of buyers purchasing, so sellers may feel the need to take the first offer written.
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If you want to speak to me about Frisco or the surrounding area, please feel free to book a call or zoom. Or email Troy@TroySage.com