Frisco Sold Transactions - Price Band Comparison
A number of people have been asking me whether homes in certain price ranges are selling better than others in Frisco. From an anecdotal perspective, I know that the townhomes I have listed at Fifth and Belford, in the $900's, have much fewer showings than similar properties I had listed last year.
I compared the number of sold transactions in different price bands from January 1 to August 25 (the day I'm writing this article) for the years 2007 and 2008. Here are the results:
Price Band 2007 2008 +/- transaction # from 2007 to 2008 % change
$0 - $500,000 63 46 -17 -27%
$500,000 - $750,000 43 15 -28 -65%
$750,000 - $1m 23 5 -18 -78%
$1m - $1.25m 2 3 +1 +33%
$1.25m - $1.5m 1 1 0 0
Sales of properties under $500,000 have been least affected by the market slowdown, showing a decrease in number of transactions of 27%. Properties over $500,000 to $1 million have seen a much greater percentage slowdown from 65 to 78% less sales than last year. Sales over $1 million in Frisco total four in each year, not making a great statistical analysis.
Some good news is that as of the date of this article, there are 19 pending properties in Frisco. Eleven are listed under $500,000, continuing to confirm that lower priced properties are continuing to move. Five pending listings have list prices between $500,000 and $750,000. Two are listed between $750,000 and $1,000,000 and one property is listed at $1,650,000. We also all know that September and October are huge months for closings, so hopefully the numbers will continue to increase.
Amy Nakos, Landmark Real Estate Group, LLC, Frisco, CO