Welcome to this month’s Frisco, Texas, real estate market report presented by the area’s premier luxury realtor Rene Burchell. Are you interested in buying a home in Frisco and want to know what houses are selling for? Frisco has had a month-to-month rise in the median sale price as inventory levels are well below seasonal averages. Find out how much prices have gone up by reading this helpful report.
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A Look at Frisco Housing Stats
The median sale price for single-family homes in Frisco, Texas, ended November 2021 at $590,000 up from $560,000 in October, and up from $440,995 one year ago.
There were 220 sales of single-family homes during November, down from 296 the previous November. Total sales volume for November was $143,170,922, almost eclipsing the $150,095,447 in sales volume on 296 sales during November 2020.
Homes were on the market for an average of 15 days during November, down sharply from 42 days one year ago. Single-family homes in Frisco priced between $301-500,000 were on the market for 13 days before being sold, a year-to-year drop from 35 days.
Homes priced between $501-750,000 stayed on the market an average of 14 days, down from 46 days at the end of the previous November, and homes priced at $751,000 and up were sold in an average of 20 days, a drop from 69 days one year ago.
Sellers are getting 104.4% of their list price at closing, up almost six percent from 98.6% this time one year ago. Sellers of homes in the $301-500,000 price range received 104.8% of their list price at closing. Frisco homes of sellers in the $501-750,000 market received 105.9% of their asking price, and homes selling for $751,000 and higher received 102.7% of their asking price at closing.
Single-family homes in Frisco priced between $501-750,000 made up for 38.2% of all sales during November, up from 27.4% one year ago. Single-family homes in Frisco in the $301-500,000 market made up for 33.6% of all sales, versus 54.1% the previous November, and the $751,000 and higher price bracket made up for 28.2% of all sales during November, up from 10.8% one year ago.
What Does This Data Mean For Buyers
Buyers who are searching to buy a home in Frisco, Texas, need to understand time is not on their side. As prices increase buyers will see their purchasing power diminish. Overbidding for properties is rampant and shows what a dynamic and competitive market Frisco is.
Buyers who are actively engaged with finding the perfect home and who understand that every needed must-have feature may not be in the home that is available to you. That is why great realtors understand your goals and manage your expectations to make sure you find the perfect property and save money. Give Rene a call at (469) 877-3303 to find out how she helps buyers achieve their home buying goals.
What Does This Data Mean For Sellers
The Frisco, Texas, real estate market favors sellers. Overbidding for properties is increasing and homes in the $501-750,000 price range are in strong demand. Sellers can benefit from knowing that Frisco is a desired place to live and with low-interest rates also continuing, expect these trends to remain the same.
Sellers can expect their home to sell quickly and possibly receive multiple bids above the asking price. The key for sellers in this changing market is to not price your home too low and leave money on the table. Rene has years of experience in creating the correct pricing strategy and works to sell your home quickly and net you the most money. Give her a call at (469) 877-3303 today to 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 $590,000 or less.