Welcome to this month’s Frisco, Texas real estate market report. Are you curious to know if home prices are rising or falling? This helpful report from Rene Burchell will get you up to date with the latest Frisco, Texas real estate market statistics.
Real estate sales are still happening in Frisco. While the ongoing Corona Virus pandemic has created uncertainty, you can still buy or sell a house. Give me a call and I will let you about the precautions we are taking right now to flatten the curve and to keep our wonderful clients safe.
We help buyers get started finding the perfect home, use our search tool to find properties by price, size, location, and more! It is simple and provides fast results, be sure to save your searches and sign up to be notified as soon as new properties become available.
If you are thinking of selling your home in Frisco, Texas, we can help. Start by using our free home value estimate tool. It is a free tool we provide, answer a few questions about your home, and we will provide you with an estimate of what your home might sell for. Give Rene a call so we can get your home on the market today!
A Look at Frisco Housing Stats
The housing market in Frisco, Texas, saw an increase in activity compared to this time last year. Total sales volume increase significantly from $250,514,812 to $335,422,549, which was the result of an increase in total sales for the last month. Total home sales for the quarter were 715, an increase from 545 units sold the first quarter of 2019.
For the first quarter in Frisco, the price range with the highest market share of sales was the $500-749,999 bracket which had a little more than 400 sales for the month of March, up from 300 one year ago. The next most active price range was the $750,000 price range which increased its year to year number of sales from 100 to 150. The $300-499,999 market stayed flat with approximately 75 sales this year.
Monthly sales are increasing as the buying season picks up. Total sales increased from last year to this year. January increased from 140 to 290 sales, February saw an increase from 160 last year to 220 this year, and March increased from 250 to a little over 300 sales.
Homes in the most active price range of $500-749,999 averaged 60 days on the market, a decrease from 75 this time last year. Sellers in that price bracket were getting 96.5% of their original asking price.
Homes in the $750,000 price range averaged less than 82 days on the market before being sold, and sellers in the price bracket were getting 96.5% of their original asking price.
The average number of days a home that was priced between $300-499,999 stayed on the market was 45 days, a decrease from 62 one year ago. Sellers who sold their home in the price range were getting 98.0% of the original asking price.
The demand for homes priced in the $200-299,999 market slowed the first quarter of this year, homes in that price point averaged 38 days on the market before being sold, an increase from 20 days one year ago.
What Does This Data Mean For Buyers
While times are uncertain, if you have financing in place and are working closely with your lender, there is no need not to proceed with a home purchase. Just be prepared that the process may take a little longer than usual.
What Does This Data Mean For Sellers
For sellers, the next few months will be all about patience as the economy opens back up. While there are buyers actively looking and buying, expect to see a slowdown in activity, as well as an increase in the time from contract to close.
Sellers thinking of selling should make use of our free home valuation tool; then give Rene a call and we can answer all your questions about selling your home in this uncertain market.et you the most amount of money.
Frisco Homes for Sale
Wondering what your home might be worth? Find out instantly with our 15-second home value calculator.
Here are the most recent home listings just added to the database in the average price range for Frisco. All homes here are priced at $417,000 or less.