Welcome to this month’s Frisco, Texas, real estate market report. Are you curious about how the real estate market has performed over the last month? Even in light of restrictions due to Covid-19 real estate transactions are still happening.

Are you thinking of buying a home soon? If you are you can search for properties by using our search tool to find homes by price, size, or location. Be sure to save your searches and sign up to be notified as soon as new, matching properties become available. Then give us a call and we can tell you what we are doing to keep our clients safe during the Covid-19 situation.

If you are considering selling your home and would like to know what it might be worth, you can make use of our free home valuation tool. Simply answer a few questions about your home and we will provide an estimate of your home’s market value. Then give us a call and we will show you how we market your home to buyers virtually and in person.

A Look at Frisco Housing Stats

The median sale price for single-family homes in Frisco, Texas, ended the second quarter at $430,000, this is up from $426,500 one year ago.

During the month of June there was a total of 375 homes sold, up from 340 the previous June, and up from 240 last month. The number of homes sold has increased gradually each month since April 2020.

The price range that has had the most activity over the last quarter has been the $500-749,999 price range which made up for 450 total sales, the $750-799,999 market had 200 sales through the second quarter, and both the $300-499,999 & $751,000 or higher markets had less than 100 sales each.

In Frisco, Texas, the number of days on the market before a home sold was mixed depending on the price range.

  • Homes priced in the $300-499,999 market averaged 30 days or less, a decrease from 40 days one year ago.
  • Homes in the $500-749,999 price range averaged 45 days before being sold, a decrease from 52 days this time last year.
  • Homes that were priced at $751,000 averaged 61 days on the market before being sold, down from 75 the previous June.
  • Homes in Frisco that were priced between $200-299,000 and $751,000 or higher averaged 38 & 82 days on the market before being sold.

Overall homes were being bought at 1.2% above list price for the second quarter this year, an increase from 1.1% during the second quarter of 2019.

Housing inventory in Frisco, Texas has decreased year to year, benefitting sellers and creating a competitive market for buyers. There is less than three months of inventory available in all price ranges, except the $500-749,999 market which has only four months of inventory available.

What Does This Data Mean For Buyers

If you are planning to buy a home in Frisco, Texas be prepared for competitive bidding, reduced inventory, and virtual showings of homes. Buyers are facing a shortage of inventory which has put upward pressure on prices and the Covid-19 situation has caused many sellers to put off listing their home.

If you are thinking of buying a home, give us a call today and we can create a buying strategy that will assist you in purchasing your home.

What Does This Data Mean For Sellers

Sellers in Frisco, Texas, may see a slowdown in buyers if restrictions stay in place. Some buyers have been unable to follow through with their purchase plans due to the Covid-19 situation. However, sellers in certain price ranges may see demand increase this summer.

If you are thinking of selling your home in Frisco, Texas, give us a call today; we can show you how we safely market and show your home to the most qualified buyers.

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$430,000 or less.


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Summary
Frisco Real Estate Market Report - July 2020
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Frisco Real Estate Market Report - July 2020
Description
The median sale price for single family homes in Frisco, Texas, ended the second quarter at $430,000, this is up from $426,500 one year ago. During the month of June there was a total of 375 homes sold, up from 340 the previous June, and up from 240 last month.
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ReneBurchell.com
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