Welcome to this month’s Frisco, Texas, real estate market report presented to you by Rene Burchell Realty, the experienced luxury real estate specialist. How active has the real estate market in Frisco, Texas, been this summer? Sales volume during August 2021 was higher than the previous August. Find out how much single-family homes have been selling for in this helpful report.
Are you looking to buy a home in Frisco soon? Start your search here by using our helpful, easy to use, search tool. Find properties by price, size, location, and more! Make sure you save your favorite properties to tour, then, sign up to be notified as soon as new, similar properties become available! Don’t wait, get started today!
If you are ready to sell your home in Frisco today, the first step is to find out how much your property may be worth. We provide a free home valuation tool to give you an idea of what your home may sell for. We provide a comprehensive market summary that suggests a starting list price. In today’s market of rising prices, accurate pricing is a strategic must. Call us today at (469) 877-3303 and we can get you started!
A Look at Frisco Housing Stats
At the end of August 2021, the median sale price for single-family homes in Frisco, Texas, was $555,000 increase from $425,000 at the end of the previous August. There were 333 properties sold last month, down from 386 during this month one year ago.
While there were fewer properties sold in August 2021 compared to the previous August, sales volume was higher, up from a total volume of $197,992,291 to $224,206,055.
Single-family homes that were priced between, $301-500, made up 39% of all sales during August, down from 51.6% one year ago. The $501-750,000 was 34.2% of all sales, up from 24.4%, the $751,000 and the higher market made up for 24.9% of all sales, compared to just 12.2% of all sales the previous year.
Homes priced in the $301-500,000 range were only on the market for an average of 16 days, down from 37 during the previous August. Single-family homes in Frisco priced between $501-750,000 were on the market for just 12 days before being sold a decrease from 47 days at this time last year.
Properties priced at $751,000 and higher stayed on the market for just 23 days, compared to 57 just 12 months ago. Homes that were priced between $201-300,000 stayed on the market for an average of 40 days before being sold, in line with the 39 day average the previous August.
The list price to sales price ratio for sellers inched higher this summer. Single-family homes in Frisco priced between $300-500,000 sold for 104.1% of the asking price, up from 99% one year ago.
Single-family homes in the $501-750,000 market sold for 105% of list price, compared to just 98.5% last year, and homes priced at $751,000 and higher sold for 103.7% of the asking price during the month of August, up from 97.9% during August 2020.
What Does This Data Mean For Buyers
As you search for a home to purchase in Frisco, Texas, keep in mind that prices are steadily rising, and the inventory of available homes is decreasing. While some areas of the market have stalled, other areas are seeing properties sell as soon as they are listed.
Buyers should keep in mind that time is not on their side in this competitive market. Buyers should have financing in place and be ready to act as soon as a property is found.
Overbidding of properties is becoming common in the $300,000 and higher price range. Buyers may have to increase their budget or settle for fewer features that are wanted in a property.
What Does This Data Mean For Sellers
Owners of homes who might be thinking of selling should take the opportunity to get their homes listed and on the market today. As buyers relocating from out of state, and more densely populated areas, property values are rising along with demand. As interest rates remain low, expect these trends to continue to the end of the year.
Sellers who have been on the fence about selling can know that with today’s technology and protocols we make showing your home safe and easy. Pricing your home correctly is also an important step in selling your home.
We are experts when it comes to getting your home listed, marketed, and sold for you quickly! Give us a call today at (469) 877-3303 to get started!
Wondering what your home might be worth? Find out instantly with our 15-second home value calculator.
Frisco Homes for Sale
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 $550,000 or less.