Welcome to this month’s Frisco, Texas real estate market report, presented to you by Rene Burchell Realty, Frisco’s luxury real estate specialist. We are halfway through the summer buying season and how has the real estate market been performing? What has been the effect on real estate prices as buyers relocate from higher tax, more restrictive states?
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Have you been waiting to sell your home and are ready to get started? Begin here by finding out what your property may be worth with our free home valuation tool. Simply enter some basic information about your property and we will provide you a comprehensive market summary of your home’s potential selling price. Give us a call at (469) 877-3303 and we’ll get you started!
A Look at Frisco Housing Stats
At the end of June, the median price for single-family homes for sale in Frisco, Texas was $550,000, an increase from $430,000 at this time one year ago.
There were 1,047 totals sales over the last quarter, an increase from 830 the previous second quarter in 2020. Total home sales for June, almost kept up with the 380 sold in May, ending last month with 370 total homes sold. Single-family home sales have climbed each month from 260 in March, and 280 during April.
Total sales volume so far for the second quarter of this year is $678,356,544, a steep increase from the $410,936,124 sold during the previous June.
In Frisco, single-family homes priced in the $500-749,999 market made up for 400 sales last month, down from 450 the previous June. The $750-751,000 price range made up for 380 total sales, up sharply from 200 one year ago, and the $751,000 and higher-priced homes made up for 275 total sales over last month, a year to year increase from 60.
Single-family homes are on the market for an average of 12 days before being sold, there is approximately less than one month of inventory available to buyers in Frisco.
On average sellers are getting 105.7% of their original asking price for their home at closing. However, homes priced in the $501,-750,000 price range at closing are sellers are getting 108% of their asking price. Sellers of single-family homes priced between $301-500,000 are getting 106% at closing, and sellers in the $751,000 and up are receiving 104% of their asking price.
What Does This Data Mean For Buyers
For buyers looking for homes, the outlook is not the most optimistic. Inventory levels are down in all price points, homes are being bought up very quickly, and each day prices climb a little bit more. If you are looking to buy a home in Frisco, Texas, time is not on your side. Buyers should be prepared to act quickly when a property that meets their minimum needs is found.
Give Rene Burchell a call (469) 877-3303 today and she can guide you through the complex and competitive real estate market of Frisco, Texas. Rene has helped home buyers find their perfect home with the help of her expertise, knowledge, and professionalism. Give her a call today!
What Does This Data Mean For Sellers
If you have been waiting to sell and might be considering it, now is a good time. There is strong demand for homes in Frisco, especially in the $500-750,000 price range. Homes are being bought up almost as fast as they are being listed. While the near term expects prices to continue to climb, and as interest rates stay low, and buyers continue to relocate to states like Texas, expect the current trends to continue.
If you are thinking of selling your home, give Rene Burchell a call at (469) 877-3303 today, she can make sure that your home is priced correctly, marketed to the most qualified of buyers, and sold as quickly as possible.
Wondering what your home might be worth? Find out instantly with our 15-second home value calculator.
See Additional Reports on the Frisco Real Estate Market
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.