Welcome to this month’s Frisco, Texas real estate market report presented to you by Rene Burchell, one of the top 1% of realtors in the industry, as awarded by America’s Top 100 Real Estate Agent’s.
We hope that if you are thinking of buying or selling a home you find this report helpful. During these uncertain times, we are working with all our clients to maintain safety according to the CDC and local health department guidelines. If you have any questions about buying or selling a house please give Rene a call today!
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Are you ready to upgrade or cash in your investment? If you are, get an idea of your home’s potential market value by using our free home valuation tool. It’s quick and easy, simply answer a few questions and we will let you know the potential price and marketability of your home. Give Rene a call today to get your home listed!
A Look at Frisco Housing Stats
Real estate sales in Frisco, Texas ending April 2020 were significantly lower compared to April 2019. Total sold volume for April 2020 was $98,771,976, down from $149,634,005 the previous April.
There were a total of 209 sales during April 2020, down quite a bit from the 322 sold during April 2019. The median sales price for homes in Frisco during April 2020 was $418,507, only a slight increase from $418,000 one year ago.
The $301-500,000 price range dominated the market accounting for 55.0% of all sales. The $501-750,000 range made up 23.4% of all sales, the $201-300,000 market made up 14.8% of all sales, and the $751,000 and up accounted for 6.7% of all sales during April 2020.
How long did it take to sell a home in Frisco, Texas during April 2020? The overall average days on the market before a home sold during April 2020 was 65 days.
Here is a breakdown of the numbers:
- Homes in the $201-300,000 price range averaged 30 days on the market before being sold.
- Homes in the $301-500,000 market averaged 48 days before being sold.
- Homes in the $501-700,000 price point averaged 79 days on the market before being sold.
- Houses priced at $751,000 and up averaged 104 days on the market before being sold.
Are homes selling for more than asking price? In Frisco, Texas during April 2020 the overall average list to sale price was 97.25%, here’s a closer look at the numbers.
Sellers who sold a home in the $201-300,000 price range were getting 99.5% of their asking price; in the $301-500,000 market sellers received 98.3% of their asking price on average.
Sellers in the $501-750,000 price range averaged 97.2% of their asking price, and homes selling in the $751,000 and higher price sold for 95.4% of their asking price.
What Does This Data Mean For Buyers
For buyers in Frisco, Texas the good news is that prices are staying steady, the bad news is there is a great deal of uncertainty. Sellers who may have considered selling may have decided to wait. Buyers who have solid financing may find themselves in a position with more leverage as some buyers have been unable to proceed with purchases.
In these uncertain times, it is important to have a professional and experienced realtor guide you through the process of buying a home. Give Rene a call today and she can answer all your questions to make sure your home search is safe and successful.
What Does This Data Mean For Sellers
If you are selling or thinking of selling a home in Frisco, Texas the next couple of months are unclear. Buying for the next month or two will be slowed as buyers who were in the market but had to pause until they return to work. Home prices may stay steady or even decline over the next few weeks.
Sellers who are thinking of selling should give Rene a call and utilize her years of experience in the Frisco real estate market. Rene can answer all your questions and develop a strategy to sell your home as quick as possible. Give Rene a call today!
Frisco Homes for Sale
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
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$418,507 or less.
