Welcome to this month’s Frisco, Texas real estate market report, presented by Rene Burchell Realty Group. Are you ready to buy or sell a home in Frisco and may be wondering if the nationwide climb in home prices has affected Frisco, Texas? This helpful report will answer all your questions about buying or selling a home in Frisco, Texas!
If you are planning to buy a home in Frisco, Texas, start your search here by using our free search tool to find properties by price, size, location, and more! Once you find homes to tour, be sure to save your favorites, then, sign up to be notified as soon as new matching properties become available. Finally, give us a call and we can answer all your questions about buying a home in Frisco, Texas.
Are you ready to sell your home in Frisco today? We help sellers get the most money for their property and work to sell their homes quickly. The first step to getting your home sold is to find out how much it may be worth. Start here with our free home valuation tool. Simply enter a few key details about your property and we will provide you a comprehensive marketing summary! Give us a call at (469) 877-3303 and we can answer all your questions about selling your home, what features are in demand, and what to expect through the whole process.
A Look at Frisco Housing Stats
At the end of the fiscal first quarter, the median sale price for a single-family home in Frisco, Texas was $492,000, a year-to-year increase from $415,000. Total sales volume for the first quarter of 2021 was $346,607,043, an increase from the $335,422,549 in sales volume during the first quarter of 2020.
There were only 611 home sales during the first quarter in Frisco, Texas, a decrease from 715 sold during the first three months of 2020. Single-family home sales during the first quarter are down each month compared to this time last year.
There were only 151 homes sold during the first month of 2021, a decrease from 180 sold. During February 2021, there were only 180 single-family homes sold in Frisco, down from 225 the previous February, and March had only 255 single-family homes sold, a decrease from 310 sold during March of last year.
The inventory of single-family homes available for sale in Frisco, Texas has fallen year to year. The $500-749,999 pricing market has fallen from 5 months of inventory available one year ago to only one month at the end of March 2021. The $750,000 market in Frisco has shrunk from 3.5 months to less than one month, and there is less than one month supply of homes priced at $751,00 and higher, falling from just two months one year ago.
In Frisco homes in the $500-749,999 pricing market made up for 275 of the 611 homes sold during the first quarter of 2021, homes in the $750,000 price bracket accounted for 231 sales, homes priced in the $751,000 or higher made up for 80, and homes priced at $300,000 or less had 25 sales during the first three months of 2021.
For sellers of homes in the Frisco, Texas area, the average list-to-sale price ratio for homes priced in the $200-750,000 are getting approximately 101.8% of their asking price for their home at closing. Sellers in the $751,000 and higher market are getting only 99.3% of their asking price, and sellers in the $151-200,000 range are getting 90.2% of their list price at closing.
What Does This Data Mean For Buyers
If you are looking to buy a home in Frisco, Texas be prepared to act decisively when a property is found. Options for single-family homes in Frisco are few, and buyers should be aware and be prepared to make any modifications when it comes to must-have features in a home.
Interest rates continue to remain attractive and as long as Texas continues to be a state that is attractive to those who have been affected by the pandemic, expect inventory to remain low, and prices to steadily rise the remainder of the year.
If you are ready to buy a home in Frisco, Texas, Rene Burchell a call today at (469) 877-3303! Rene has the experience, knowledge, and commitment to make sure you find the perfect home for you and your family!
What Does This Data Mean For Sellers
If you are planning to sell your home in Frisco, Texas, the time is right as interest rates continue to be attractive and prices steadily rising. As buyers from other states relocate to Texas, expect demand to continue. Sellers who might have been undecided should take the opportunity to act now as the summer buying season begins.
Rene Burchell is the expert realtor in Frisco, Texas, who knows how to show off the best features of your home, price your property correctly, and market it to the most qualified of buyers. Give them a call today at (469) 877-3303.
Frisco Homes for Sale
Wondering what your home might be worth? Find out instantly with our 15-second home value calculator.
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$492,000 or less.