Frisco's MLS March Market Numbers!
Wednesday, April 30, 2014
The MLS just released the preliminary Frisco numbers for March 2014 & WOW!
- March-to-March listing down -21.3%
- Year-to-Date listings down -13%
- March-to-March closed sales down -12.8%
- Year-to-Date closed down -3.6%
- March-to-March Listing Under Contract down -25.2%
- Year-to-Date Listings Under Contract down -12.5%
- March-to-March Days on Market UP +0.7% = 51 days.
- Year-to-Date Days on Market down -12.9%
- Month’s Supply of Inventory down 32.9% to 1.5 months supply
- YTD Price is up +12.5% Average & +16.5% Median Sales Prices
- Percent of Original List Price Received YTD is 96.4%
A couple of things that stand out to me…
- WOW – inventory is low!
- See #1
- The huge discrepancy between March-to-March numbers v/s the YTD may be explained by not only changes in market but also (to a degree):
- March numbers include some estimates/projections
- Weather factors were big this spring – which often affects buying cycles (moving them sooner &/or later in a year)
- More purchases are occurring outside of the MLS – New Builds, some “Hip Pocket Listings”, etc
- ** While a 1.5 months supply of homes clearly indicates a strong seller’s market, dare I say, there are still some sellers who may be over estimating their home’s position in the market or the market’s strength – which is reflected in an average sale with a Percent of Original List Price as 96.4%, which does NOT reflect seller paid concessions – and an increased number of days on market (I am proud to say that The Christie Cannon Team averaged 20 Days on Market with over 98% of Original List Price).
Have questions on how this market may affect you or your family's real estate goals? Have questions about how your city, area, or neighborhood is doing?
Please feel free to call or email with questions!
- Christie Cannon - 469-951-9588 - Christie@christiecannon.com
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