Welcome to this month’s Frisco, Texas, real estate market report. In 2021, Frisco continued to be a highly sought-after destination for buyers preferring a more suburban setting. The Frisco real estate market saw higher sales volume this year and higher median sale prices. Find out more in this year-end report.
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A Look at Frisco Housing Stats
The median sale price for single-family homes in Frisco, Texas, finished the year at $545,000, higher than the $431,000 median sale price of 2020.
There were a total of 3,433 single-family homes sold in Frisco during 2021, fewer than the 3,749 sold during 2020.
Total sales volume ended the year higher than the previous year, up from $1,846,290,105 to $2,181,442,863.
For the year, single-family homes in Frisco in the $500-749,000 price range made up for approximately 1400 of sales during 2021, down year to year from 2,000. The $750,000 market had 1,200 sales up from 900 last year, and the $751,000 and the higher market made for 800 sales during the year, a year to year increase from 400.
There was a seasonal slowdown in activity as single-family home sales dropped over the last three months, falling from 275 sold in October to just 225 sold during December.
Single-family homes in Frisco priced between $200-300,000 were on the market for an average of 22 days before being sold during 2021, homes in the $300-500,000 range were on the market for 15 days, homes in the $500-749,000 bracket were in the market for 17 days. Homes that were offered at $7500,000 stayed on market for 12 days before selling and single-family homes priced at $751,000 and higher were on the market for 28 days before being sold.
Sellers of single-family homes in Frisco during 2021 received on average 1% above list price at closing. Sellers of homes priced between $201-300,000 received 100.8% of list price at sale time, sellers in the $301-500,000 price range received 104.4% of asking price at closing, sellers of properties in the $501-750,000 range received 105.6% of list price at closing and sellers in the $751,000 or higher market received on average 103.2% of list price.
At the end of 2021, there was less than one month of single-family inventory available to buyers in Frisco. Inventory levels are half of what they were last year, with the fewest homes available in the $750,000 market, the next tightest market is the $500-749,000 range with a half month of supply, and the $751,000 or higher market has almost one month of supply available to buyers.
What Does This Data Mean For Buyers
Finding the perfect home in Frisco this coming year may be a challenge for some buyers. Single-family home prices are increasing and inventory levels remain at historic lows. Time is not a friend to buyers. Before searching for a home be sure to have financing in place to be ready to act and be realistic and ready to make compromises.
Buyers should expect these trends to continue while interest rates remain low and people relocate from higher tax regions of the country.
If you are searching for a home in Frisco, Texas, give us a call today and we can answer all your home buying questions!
What Does This Data Mean For Sellers
The Frisco real estate market is seeing consistent demand for homes. Sellers of single-family homes are starting to see their final sale price higher than their original asking price. As long as interest rates remain low and buyers make Frisco their preferred destination, these trends should continue through the remainder of 2022.
If you are ready to sell your home in Frisco, we’ll get you started! We have the knowledge and expertise that will price your home correctly, market the most sought-after features, and sell your home quickly to net you the most money! Give us a call today!
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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 $545,000 or less.