Welcome to this month’s Frisco, Texas, real estate market report, presented to you by Rene Burchell Realty. Frisco is a popular destination for home buyers and while the supply of available homes is low, demand is up. The month of October saw a fewer number of sales than the previous October, but higher sale prices for homes. Find out more about the Frisco real estate market with this helpful report.
Are you trying to find the perfect luxury home in Frisco, Texas, for you and your family? Begin your search here by using our search tool to find properties by price, size, location, and more. Be sure to save your favorite properties to tour, then, sign up to be alerted when new properties become available so you don’t miss out. Give us a call today and we can answer all your questions about buying a home in Frisco, Texas!
You might have noticed the rise in home values and are ready to sell your home. The first step to selling your home is knowing how much it is worth. Take advantage of our free home valuation tool to get an idea of what your property may sell for. Simply answer a few questions about your home and we will provide you a market report with a suggested price to offer your home on the market. Pricing your home correctly is the most important detail when it comes to selling your home. Give us a call today at (469) 877-3303 and we will get you started!
A Look at Frisco Housing Stats
The median sale price for single-family homes in Frisco, Texas, ended the month of October 2021 at $560,000, up from $441,000 the previous October.
There were 275 homes sold during the month of October, less than the 360 sold one year ago. Total sales volume for October was $175,304,823, almost as much as the previous October sales volume of $182,142,097.
Single-family homes valued in the $301-500,000 price range made up for 39.3% of all sales during October 2021, down from 54.4% the previous October.
Homes priced in the $501-750,000 range were 37.5% of all sales, up from 26.9% one year ago, and homes in Frisco priced at $751,000 and higher were 22.9% of all sales, up from just 10.3% off sales the previous October.
Sellers of homes in Frisco in most price ranges were receiving more than list price at closing.
Homes priced between $301-500,000 received 103.5% of their asking price, a year-to-year increase from just 99.4%. Sellers of homes offered between $501-750,000 received on average 103.5% of their asking price also a year to year increase from 98.0%, and sellers of homes priced $751,000 and more received 101.5% of their asking price at closing.
In Frisco, Texas, on average homes are on the market for 24 days before being sold. By breaking down the numbers in October we see that homes priced between $501-750,000 were on the market for an average of 16 days, down from 52 days the previous October.
Homes priced between $301-500,000 were on the market for 19 days before being sold, a year to year drop from 37 days, and homes priced in at $751,000 and higher were on the market for an average of 20 days before being sold, down from 40 days during this time one year ago.
What Does This Data Mean For Buyers
Buyers who are searching for the perfect home in Frisco, Texas, should be prepared for a dynamic market with rising prices and heavy competition for homes. Frisco remains a very popular destination and with supply levels remaining low, buyers should be prepared to act and have financing in place when a property is found.
Overbidding for homes continues in most markets and the longer a buyer waits to execute an offer on a home, the less purchasing power they will have. That is why it is important to have an agent who understands your home buying goals and works to find you the perfect property while saving you time and money. Give us a call today and let’s find the perfect home for you!
What Does This Data Mean For Sellers
If you are thinking of selling your home now is a good time. The real estate market in Frisco, Texas favors sellers at this time. Homes priced above $500,000 are in strong demand in the area. Sellers who may have been waiting or exercising patience should go ahead and get their property listed today.
Low-interest rates and buyers relocating from out of state have created a favorable market for sellers, and these trends can be expected to continue. In dynamic markets, with rising prices, it is important to have an agent who understands the fundamentals of pricing your home correctly. Give us a call today to find out how we price, list, and market your home to sell it quickly and net you the most money!
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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 $560,000 or less.