Welcome to this month’s Frisco, Texas real estate market report. This report is presented to you by Rene Burchell Realty, for all your questions about buying or selling a home in Frisco, give Rene a call today at (469) 877-3303.
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A Look at Frisco Housing Stats
The median sale price for single-family homes in Frisco, Texas, at the end of July 2021 was $550,000, a year-to-year increase from $439,950.
There were 354 single-family properties sold during July, down from 448 sold the previous July.
Total sales volume for the month in Frisco was $228,801,211, an increase from $216,275,817 one year ago.
In Frisco, 40% of all homes sold during July were in the $301-500,000 price range, a drop from 54% the previous July. Sellers of homes in the $301-500,000 were getting 106.6% of their asking price, up from 98% one year ago, and their homes were on the market an average of 14 days in July before being sold.
During July in Frisco, 37% of homes sold were in the $501-750,000 market, a year-to-year increase from 24%. The list-to-sale price received ratio for homes sold in this range was 108.4%, up from 97.5% one year ago. Homes sold in the $501-750,000 were in high demand during July and were only on the market for an average of seven days before being sold.
The sale of single-family homes in Frisco made up 21% of all homes sold during July, up from 8.3% the previous July. Sellers of homes priced at $751,000 and higher received 105.9% of their asking price at closing, compared to just 97.9% one year ago. Homes in this price range were on the market for an average of 11 days before being sold.
Only 1% of homes sold in Frisco, Texas during July were priced between $201-300,000, a year-to-year drop from 12.3%. Sellers of homes in this market received 103% of their asking price at closing, up from 98.6% one year ago. Properties sold in this price range were on the market for an average of nine days in July before being sold.
What Does This Data Mean For Buyers
Buyers searching for a home in Frisco, Texas can expect to see prices trending higher. Time is not on the buyer’s side and if a property is found, buyers should have financing in place and be prepared to take action.
Buyers may have to reduce some must-haves or be prepared to increase their purchase budget if demand continues.
What Does This Data Mean For Sellers
Frisco, Texas is currently in a seller’s market as demand for homes and overbidding for properties continues. Homeowners are seeing property values go up and it may make financial sense to get your home listed and on the market today.
Low-interest rates and buyers favoring the Frisco area is heating up an already hot real estate market. This trend should continue for the remainder of the year.
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.