Welcome to this month’s real estate market report for the community of Frisco, Texas, presented to you by Rene Burchell Realty. Single-family home prices in Frisco have climbed higher year to year, while available inventory is lower than one year ago. Find out how much single-family homes are selling for in this helpful report.
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A Look at Frisco Housing Stats
The median sales price for single-family homes in Frisco, Texas at the end of May 2022 was $725,000, which is up year to year from $540,000 at the end of the previous May.
There were 297 listings sold during the month of May, which is less than the 395 listings sold the previous May.
Total sales volume for May 2022 was lower year to year, down from $252,078,500 to $238,394,765.
Single-family residential homes in Frisco priced between $501-750,000 made up 41.1% of all sales during May, up from 38.5% one year ago. Single-family homes priced between $751-1,000,000 had 32.7% of all sales last month, up from 15.2% the previous May. The third highest market was the one million or higher bracket which increased year to year from 7.6% of all sales to 12.1% of all single-family home sales in May 2022.
Overbidding for properties continues, homes priced at $1,000,000,000 and higher had a sale price to list price ratio of 110.9%, the highest of all sales markets, and up year to year from just 101%. The next most competitive market is the $501-750,000 in which sellers are receiving 110.4% of the list price at closing, up from 107.9% one year ago. The average sale to list price ratio for homes priced in the $401-500,000 range sold 108.4% of the asking price, holding steady from one year ago, and in the $751-1,000,000 price market, sellers were getting 107.6% of the asking price, up from 104.4% one year ago.
Homes in all price brackets were on the market for an average of six days or less before being sold, which is the same average at this time one year ago.
What Does This Data Mean For Buyers
If you are looking for a home to buy in Frisco, Texas this summer, be prepared in most cases to pay above listing price for a home. Inventory levels are very low and there is lots of competition for the few homes available.
Buyers may have to remove some “must-haves” when finding a property or face the possibility of being priced out of the market. If you are searching for a home in the dynamic Frisco real estate market, buyers should have financing in place and be ready to act when a property is found.
If you are in the market for a home in Frisco, give us a call today. Let us help you find the perfect home quickly. We know what it takes to be successful in a fast-moving market and we work to accomplish your home buying goals. We are ready to go, are you?
What Does This Data Mean For Sellers
The Frisco real estate market favors sellers right now, low inventory and buyer demand has driven up single-family home prices. Many homes in all are selling quickly and for higher than the initial asking price. While interest rates are climbing and inflation is growing, demand still continues. While at some point a slow down will happen, sellers who have been thinking of selling should get their property on the market today.
If you are thinking of selling your home, first find out what it may be worth. Then give us a call and we can show you how we price your home accurately, market its most sought-after features, and show it to qualified, motivated buyers; to sell it quickly and net you the most money! Don’t wait, get started today!
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 $725,000 or less.