Frisco Real Estate Market Report – January 2020

Welcome to this month’s Frisco, Texas real estate market report, presented to you by the experienced, knowledgeable, and professional realtor Rene Burchell. Rene is excited about helping buyers find the perfect home, and working for sellers to sell their home quickly.

What was the market for homes like in Frisco, Texas during 2019 and how did it compare to 2018? Find out below the answer to that and what to expect if you are considering buying or selling a home in the coming year.

Are you a buyer searching for a home? Did you know you can use our search tool to find homes by price, neighborhood, and zip code? Our database is always up to date with the latest MLS data. It’s easy to use and best of all you can save your searches and sign up to be notified as soon as new properties become available.

Right now is a great time to sell your home! With less than a month of inventory available Frisco is still in a seller’s market. Sellers can get an idea of their home’s worth by using our free home valuation tool. It is free and easy to use! Once you see your results give Rene a call and will answer any questions you have.

The median sale price for homes in Frisco, Texas for the year of 2019 ended at $415,000, this is up from the 2018 median of $406,000.

There were a total of 3,368 homes sold during 2019, up from 3,281 in 2028. Total sales volume for the year ended at $1,594,392,788, higher than the total volume of $1,498,952,810 in 2018.

In most areas buyers were paying slightly less than full asking price for homes in Frisco, Texas.

Sellers who sold homes in the price range of $101-150,000 averaged 88.4% of list price. The $151-200,000 area was the most competitive as buyers were paying 100.4% of list price.

Sellers in the $301-500,000 area sold their property for 97.8% of asking price. Homes that were offered for an asking price between $501-750,000 received 96.5% of list price, and finally in the $751,000 and up category, sellers were getting 95.6% of list price.

The $300-499,000 price range was third in market share with 450 homes sold, down from the 500 sold during 2018. Finally the $751,000 and up was fourth in market share with 250 homes sold, however, this is an increase from the 220 sold during 2018.

During 2019, the month of May saw the highest number of sales with 375, higher than the May 2018 number of 355. The summer 2019 buying season stayed busy with August having 360 home sales, outpacing the July number of 350. The summer months were the most active during the year, and each month had a year to year increases in sales.

Buying slowed down beginning in September 2019, with slightly more than 250 homes sold. October and November had less than 250 sales each month. Buying picked up slightly in December with approximately 290 homes sold. The month of December 2019 had the highest year to year increase, up from 225 during 2018.

Depending on your price range the number of days a home is on the market before being sold was mixed during 2019.

Homes in the $200-300,000 price range averaged less than 15 days on the market before being sold. Homes sold in the $301-499,000 price range averaged 43 days on the market, an increase from the 2018 average of 30 days.

There was a slowdown in the $150-199,000 price range, as those homes stayed on the market for an average of 50 days, quite higher than the 2018 average of 20 days.

Finally, homes priced at $751,000 and up averaged 75 days on the market during 2019 before being sold, which was the same as in 2018.

Months of inventory available in the Frisco, Texas real estate market increased in all categories during 2019. The $500-749,999 price range had the biggest increase of inventory; one month of inventory was available in 2019 compared to less than half a month during 2018.

Homes that were priced at $750,000 also had an increase of inventory, climbing to 0.6 months of inventory available, up from 0.3 months during 2018.

The supply of homes in the $751,000 price range climbed from 0.1 to almost 0.5 months of inventory.

While there is a slight increase in inventory in most price ranges, there is still less than one month of inventory overall. It is very important for buyers to be ready to purchase when the perfect home is found.

Rene Burchell works for buyers to submit the strongest offer, negotiate for them, and put her experience to work for you from contract to close. If you are thinking of buying, give Rene Burchell a call today! 

Home Buying Process

There is a lack of inventory available on the market so now is a good time to get your property listed. There has been a slowdown in activity; however, Frisco is still a seller’s market and there is a strong demand for homes, especially in the $500-749,499 market.

If you are considering selling your home this year, take advantage of our free home valuation tool to get an idea of your home’s worth. Then give Rene Burchell a call today and she can give you up to the minute market activity, what to expect when getting your property listed, and making sure your property is priced competitively.

Home Selling Process

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