The Frisco Housing Market Isn't Cooling. It's Splitting in Two.
If you've spent any time on a home search app lately, you've seen the headline number: Frisco's median home price has been flat to slightly down for most of 2026. Inventory is up. Homes are sitting longer than they did two years ago. The story reads like every other North Texas suburb working through a post-pandemic hangover.
In Frisco's northern corridor along the Dallas North Tollway, a developer's own projections had as many as eleven construction cranes running this month over an $800 million retail and office district that just crossed 75 percent pre-leased. Inside the same development, a theme park that broke ground in 2023 opened its gates on July 1. That is not the profile of a cooling market. That is the profile of a market absorbing capital faster than it can build.
Both of these things are true at the same time, in the same city. The citywide median is not describing one market. It is averaging two, and for a buyer or seller trying to price a move in Frisco right now, that average is the least useful number on the page.
The Texas Real Estate Research Center at Texas A&M, the state's most established source for housing data, put the statewide median sales price at $340,000 in May 2026, up modestly from April but still roughly flat year over year. Statewide active inventory sat at 5.3 months of supply, and homes spent an average of 64 days on the market before selling. A separate TRERC report covering April data found that inventory gains in Dallas-Fort Worth were modest to flat, unlike the sharper supply surges reported in San Antonio and Houston.
That distinction matters, because the explanation for Frisco's softening isn't a demand problem. It's a supply problem left over from a specific building cycle. Dallas-Fort Worth's outer growth suburbs, Frisco included, built aggressively during the pandemic years, and that wave of permits is still working its way through the market, keeping a lid on price growth in the parts of the city built out during that period. Nothing about that trend touches Frisco's newest, most concentrated luxury corridor, which is why the citywide number and the Fields corridor are telling two completely different stories right now.
Most sellers only think about competing inventory in terms of other houses for sale. In Frisco, the more useful number is what happened to the broader housing stock over the last decade. According to RealPage Market Analytics, Frisco's existing apartment stock grew 259.6 percent between the first quarter of 2016 and the first quarter of 2026, adding 30,848 new units. That is the fastest apartment inventory growth rate of any large submarket in the country over that stretch, with the Rockwall/Rowlett/Wylie submarket northeast of Dallas close behind at 234.5 percent.
That kind of volume does two things to a resale seller's pricing conversation. It gives renters an enormous amount of alternative housing to sit in while they wait out mortgage rates, which softens urgency on the entry-level end. And it means the "shortage" narrative that drove Frisco pricing a few years ago has been quietly resolved on the rental side well before it resolved on the for-sale side. If you're listing an established resale home in Frisco this year, you are not just competing against other listings. You are competing against a decade of new product that renters can choose instead of buying.
While that supply works through the middle of the market, a very different dynamic is playing out at Fields, the 2,500-acre master-planned development anchored by the PGA of America, which announced in 2018 it would move its national headquarters to Frisco. The Omni PGA Frisco Resort followed, opening to the public in the spring of 2023, and on July 1, 2026, Universal Kids Resort, a $550 million theme park project, opened its gates with seven themed lands and a 300-room hotel after breaking ground in late 2023.
The residential piece of that story is The Preserve, a 267-acre gated enclave inside Fields where 233 luxury homes priced between $3 million and $25 million are being built or slated to break ground shortly by ten local custom builders, among them Alford Homes, Coats Homes, and Starside Builders. The Fields team has already held a ribbon cutting for the first phase of The Preserve, a milestone that has nothing to do with citywide days-on-market data and everything to do with a concentrated pool of buyers who are not shopping the same comp set as the rest of Frisco.
The commercial anchor tying this luxury corridor together is Fields West, a 55-acre urban village developed by Fehmi Karahan's Karahan Companies alongside Hunt Realty Investments. Karahan is the same developer behind Legacy West in Plano, and he has been explicit about the comparison.
"I consider Legacy West to be the older sister to Fields West."
Fields West closed a $425 million construction loan from Bank of America, JPMorgan Chase, and Prosperity Bank in 2025, with the City of Frisco committing $70 million in bonds and an expected $24.5 million in grants. The project went vertical in December 2025. By January 2026 there were two tower cranes on site. By March, four tower cranes and a crawler crane, with Karahan telling reporters the count could climb as high as eleven by this August. As of late July 2026, the project sits at 75 percent pre-leased across 44 signed tenants, including Crate & Barrel, Mastro's Steakhouse, Lululemon, North Italia, and Sweetgreen, with openings planned to roll out starting in late 2027 into 2028.
None of that activity is reflected in a citywide median price. It is happening in a corridor with its own comp set, its own buyer pool, and its own pricing logic, one that is expanding while the rest of the city absorbs a supply overhang.
The practical question isn't whether Frisco is a buyer's market or a seller's market. It's which Frisco you're transacting in.
| Established resale Frisco | Fields / PGA corridor | |
|---|---|---|
| Price pressure | Softened by pandemic-era supply and rising apartment competition | Insulated by anchor development and limited luxury inventory |
| Comp set | Other Frisco resale listings, older construction | Legacy West-style mixed-use districts, custom golf-course estates |
| Timeline | Longer marketing periods, more negotiation room | Presales and reservations often move ahead of construction completion |
| What moves the number | Rate sensitivity, days-on-market data, inventory turnover | Anchor tenant announcements, resort and entertainment openings |
If you're selling a resale home in an established Frisco neighborhood this year, the citywide softness is real and worth pricing into your strategy from day one rather than testing the market at last year's number. If you're evaluating a move into the Fields corridor, the citywide data telling you Frisco is cooling is simply the wrong data set. That segment is being priced against an entirely different demand curve, one being built in real time by a development its own creator has valued at $10 billion to $15 billion at buildout, the same developer who calls Legacy West its "older sister."
Either way, the mistake is treating one number as if it describes one market.
Does activity at Fields affect resale values in the rest of Frisco? Not directly and not immediately. Fields operates on its own comp set, largely custom and luxury new construction, so its pricing trends don't automatically transfer to resale neighborhoods built during the earlier growth cycle. Over time, anchor development of this scale can lift a city's broader reputation and demand base, but that effect shows up gradually, not in this year's median.
When will Fields West actually be open to visit? Developers have said openings will roll out in phases starting in late 2027 and continuing into 2028, so the retail and dining lineup announced so far, including Mastro's Steakhouse and Crate & Barrel, will arrive gradually rather than all at once.
Is now a good time to sell an existing home in Frisco? That depends heavily on which submarket the home sits in and what it's competing against. A home in an established neighborhood is pricing against a real supply overhang this year, which makes accurate, current pricing more important than it was two years ago. That's a conversation worth having with someone who can pull the specific comps for your street, not the citywide average.
What's driving the apartment supply increase in Frisco specifically? Frisco's apartment stock nearly tripled over the past decade, one of the fastest growth rates of any large submarket in the country, largely a byproduct of the same pandemic-era building boom that added single-family supply across North Texas growth corridors.
Every one of these numbers points to the same conclusion: a citywide average can't tell you what your specific address is worth in this market. If you're weighing a move in Frisco, whether that means pricing a resale listing accurately in a softer segment or understanding what you'd actually be buying into near Fields, Rene Burchell can walk through the comps that apply to your situation, not the city's.
When it comes to your real estate needs, you should work with only the best. Whether it is buying, selling, renting, second homes, investing, or more, my team and I are happy to guide and advise you along the way. Contact us now!