FRISCO (CBSDFW.COM) – Compared to a year ago home sales in North Texas are down but it’s not because of a lack of buyers.
A lack of inventory of pre-owned homes has created a seller’s market that many local real estate agents say they haven’t seen in North Texas in more than a decade.READ MORE: Pipeline Company Threatening To Cutoff Natural Gas Service To 5 Texas Power Plants
No place is this more evident than in Frisco.
On Sunday real estate agents Barb Glass and Sharmy McDonald of Van Poole Properties greeted potential buyers at a pre-sale open house.
With houses in Frisco often selling within hours of hitting the market, some real estate agents are finding ways to give their clients a “sneak peak.”
“It just a way for us to adjust to this crazy climate that we are in right now,” said Glass.
While sales have slowed, home values continue to increase.
With a growing family, Alpesh Petal said he is looking for a larger home in Frisco but is being cautious about getting caught in a bidding frenzy and overpaying for a home.
“We’ll buy when the property is right and the price is right– otherwise we’ll wait,” he said.READ MORE: Crowley Police Investigating After Shooting Leaves 22-Year-Old Clinging To Life
According to the North Texas Real Estate Information Systems, home prices in North Texas are up 7 compared to this last year – a slower increase than a year ago when home values rose by double digits.
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