Frisco TX Homes for Sale Early Spring 2009 Outlook

Frisco TX Homes for Sale Early Spring 2009 Market Outlook:

The busy spring Frisco TX Homes sale season is upon us. From March through September, these are the busiest and most robust months for Frisco TX homes sales activity. See previous Month-by-month 2008 Frisco TX Homes market activity report.

At the moment (March 10th 2009), 1,045 Frisco TX Homes are available for sale in the Frisco real estate market.

Homes less than $100,000: 2 Homes with an average days on the market of 142 days.

Homes between $100,001 - $200,000: 164 Homes with an average days on the market of 73 days.

Homes between $200,001 - $300,000: 297 Homes with an average days on the market of 91 days.

Homes between $300,001 - $400,000: 196 Homes with an average days on the market of 101 days.

Homes between $400,001 - $500,000: 118 Homes with an average days on the market of 104 days.

Homes between $500,001 - $600,000: 63 Homes with an average days on the market of 103 days.

Homes between $600,001 - $700,000: 54 Homes with an average days on the market of 98 days.

Homes between $700,001 - $800,000: 37 Homes with an average days on the market of 90 days.

Homes between $800,001 - $900,000: 26 Homes with an average days on the market of 79 days.

Homes between $900,001 - $1,00,000: 21 Homes with an average days on the market of 161 days.

Homes over $1 Million: 67 Homes with an average days on the market of 157 days.

If you were a visual person like me, see the bar graph below:

It is not surprising that Frisco TX sells its homes most in the $100 - $300K price range which are also its most promising categories.

In January 2009, Frisco TX sold 99 homes at an average 86 days on the market. The average house had 4 bedrooms, 3 bathrooms with 3,000 square feet. Average price per square feet = $88/sq.ft.
In February 2009, Frisco TX sold 149 homes at an average of 107 days on the market. The average house have 4 bedrooms, 3 bathrooms with 3,200 square feet.
Average price per square feet = $92/sq.ft.

These are information deemed correct as listed via NTREIS MLS. It is not a Zestimate. This information does not include any sales sold by owners or new home builders that do not participate in the local MLS.

At the rate of how Frisco TX homes sold in February, we currently have over 11 1/2 months of inventory in the Frisco TX real estate market. However, the inventory levels should look better in the coming months with the Spring/ Summer seasons.

How to effectively price your Frisco TX Home?

Relying on your local real estate expert who understands the pricing structure should be your best bet. Understand that buyers usually have "convenient" price brackets when they consider buying in certain price points. For example: If I wanted to purchase a Frisco TX Home, I would tell my Frisco TX realtor(R) to look between the $200,000 to $250,000. There are many houses to look through in this price range and that's where we would start. After flipping through the $250,000 ones and if I was not satisfied with what I found, I might increase my budget to $260,000 to $265,000 in hopes that by the time, we negotiate the contract, we would end up still at the higher end of my budget of $250,000.

Knowing this psychology of these Frisco TX home buyers, pricing your home becomes more important in this challenging real estate market.

Using a specific example: Say your real estate agent thinks that your house is worth approximately $308,000. You have an option of pricing it at $308,000 to $325,000 (adding negotiation padding) or head in the other direction to $299,000. This is where you as a Frisco TX home seller drive your sale. Remember the Buying bracket. Chances are you have buyers looking up to the $300,000 or they might start at the $300,000. For those looking over, yours wouldn't show up. Then again, you are not hurt for the $8,000, you might also want to consider pricing it lower, since you might expect to be on the market for 3 months. Your $2,500/mth payment also makes up for the $8,000. So, you are cutting your losses "earlier" on in the game, hence giving yourself a better shining opportunity to appear "cheaper" than your neighbors, because they would list their house over the $310,000 - I could almost bet.

But then again, if you are the seller, you drive your bus ie you get to decide how you price your home. Your real estate agent is your advocate, that if you want to trust his/ her judgment, then do so.

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I proudly serve and sell real estate in the greater Frisco TX Homes real estate market. If you are thinking about purchasing or selling your homes in Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area and other surrounding areas and more importantly, want to work with a local area expert, contact me at your earliest convenience.

It is a competitive market, hence it is important that you choose to work with the realtor who knows these communities like none other. I employ a systematic market approach in selling your home - an intentionally unique proposal that most real estate agents do not use. If you care to be on your way to a successful closing, contact me immediately to see how different my proposition will be.

Contact:
Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com