Welcome to this month’s Frisco, Texas real estate market report presented by Rene Burchell Realty Group. Frisco is a popular destination for home buyers and as a result, prices have been climbing steadily. What are the average sale prices for single-family homes in Frisco? Read this helpful report to find out.
If you are ready to buy a home in Frisco, Texas, start your search here to find homes by price, size, and location. Be sure to save your favorite properties that you would like to tour. Next, sign up to be notified so you don’t miss out when new properties that match your needs become available. Give us a call today and we can answer all your questions about why Frisco, Texas is a great place to live!
Have you outgrown your current home and need to upgrade? If you are thinking of selling your home and not sure where to start, begin here with our free home valuation tool to find out your home’s potential worth. Once you enter some basic information about your property and we will provide you a competitive market summary of your home. In today’s dynamic market it is important to price your home accurately. Give us a call at (469) 877-3303 and we’ll get you started!
A Look at Frisco Housing Stats
At the end of May 2021, the median sale price for single-family residential homes in Frisco, Texas was $540,500, up from $443,000 at the end of May 2020.
A total of 380 homes sold last month, up from 233 sold the previous May. Year to year total sales volume increased from $125,107,403 to $243,710,900.
Homes that were priced in the $501-750,000 market made up for 38.7% of all sales, up from 23.6% one year ago. The $301-500,000 price range captured 37.6% of all sales, a year-to-year drop from 52.4%, and homes priced $751,000 and higher were 22.9% of all sales up from 12.9%.
Homes in Frisco were on the market for an average of 12 days before being sold, a year-to-year drop from 42 days. Homes priced between $201-300,000 were on the market for an average of four days, down from 35 days one year ago.
During this same period all markets saw the average days on the market before being sold dropped; homes in the $501-700,000 bracket averaged 8 days on the market, $391-500,000 just 11 days, and homes priced $751,000 and higher averaged 27 days before being sold.
Overbidding for homes has been increasing this year. During May, sellers of homes in Frisco were on average getting 105% of their list price at closing. Sellers of homes in the $501-750,000 price range received on average 107.9% of their list price at closing, year to year increase from 97.2%, single-family homes sold in the $301-500,000 range were up from 97.6% of list price received to 106.2%.
Homes sold in the lower range of $201-300,000 increased from 97.8% to 102.8%, and sellers of homes in the $751,000 and the higher market saw a year-to-year increase of list price received at closing, rising from 95.3% to 104.2%.
What Does This Data Mean For Buyers
As the summer buying season continues buyers face a very competitive market for fewer homes. Buyers should be prepared to act assertively when a property is found and work to make your offer unique to stand out among other buyers. Expect prices to continue to climb as Texas becomes a popular destination for individuals relocating from more restrictive states.
Give us a call today at (469) 877-3303 and we can help you navigate the complex Frisco real estate market. We have the experience, knowledge, and work ethic to help you achieve your homeownership goals!
What Does This Data Mean For Sellers
If you have been on the fence about selling now is the time to get your property listed. Low interest rates and Frisco being a desirable destination have put upward pressure on home prices. In all price markets, sellers are receiving more than the asking price for their homes. Homes are being listed and sold very quickly, sometimes in just one day on the market!
We are experts in pricing. listing, and actively marketing your home. We work with you to create a strategy that prices your home accurately, shows off your property’s most desirable features, and markets to the most qualified buyers. Give us a call today at (469) 877-3303 and we’ll get started!
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 $540,500 or less.