Welcome to this month’s Frisco, Texas real estate market report, presented to you by Rene Burchell Realty Group. Wondering how the Covid pandemic has affected real estate sales this year and what the market will look like going into the New Year? This helpful report will get you up to date.
Are you ready to buy a home this year? Begin your house hunting adventure here. Start by searching for homes by price, size, location, and more. It’s important to save your searches then sign up to be alerted as soon as new, matching properties become available.
If you are ready to sell Rene can help you get started! First, find out what your home might be worth by using our free home valuation tool. Simply answer a few questions about your home and we will provide you a summary of your property’s potential sales price. Then let us put our experience and knowledge to work for you to sell your home as quickly as possible. Give us a call today!
A Look at Frisco Housing Stats
The median sale price for single-family homes in Frisco, Texas ended the year 2020 at $431,000, an increase from $415,000 at the end of 2019.
Total sales volume for Frisco inn2020 was $1,846,290,105, an increase from the $1,594,392,788 in sales volume for 2019.
A total of 3,749 single-family homes sold in 2020, a year to year increase from 3,368 sold in 2019.
Sales of homes in the $500-749,999 price range dominated sales for the year accounting for 2,000 of all homes sold, the next highest was the 750,000 market made up for 900 sales.
Frisco ended the year with less than half a month of inventory available to buyers, falling from a month of inventory available at the end of 2019.
At the end of 2020 homes averaged 40 days on the market before being sold, a decrease from the 2019 average of 55 days.
In Frisco for the year sellers of homes in the $201-500,000 market were getting approximately 98.7% of the list price for their homes.
The next highest was the $501-750,000 range in which sellers were getting 97.6% of list price for their homes, and sellers in the $751,000 and higher price range averaged 96.9% of list price when the property sold. Overbidding occurred in only 1.1% of all sales during 2020.
What Does This Data Mean For Buyers
If you are ready to buy a home in Frisco, Texas, be ready to act assertively when a property is found. Declining inventory has caused listing prices to increase, and as people relocate from other areas of the country, demand is likely to increase over the next few months.
Give Rene a call at 469-877-3303 we can help you navigate this competitive market, find that perfect home, and make your bid stand out so you can get moved in quickly and safely!
What Does This Data Mean For Sellers
If you are thinking of selling, the market is currently in your favor. Demand continues as interest rates remain low and people relocate to areas with less restrictive Covid policies, Homes in the $500,000 price range are in particularly high demand.
Sellers should give us a call today to get their homes listed and on the market. We are able to show your home safely to buyers and focus on the features that are in demand going into 2021.
Give Rene Burchell a call today at (469) 877-3303!
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$431,000 or less.
