Welcome to this month’s Frisco, Texas real estate market report. The demand for homes in Frisco continues heading into 2022 as the month of January had higher sales volume on fewer units sold. Home prices are going up, which is good news for sellers but maybe not the best news for buyers. Find out more about Frisco real estate with this helpful report.
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A Look at Frisco Housing Stats
The median sale price for single-family residential homes in Frisco, Texas, at the end of January 2022 was $624,900, this is a year-to-year increase from $450,600.
There were 149 residential properties sold in January, down from 162 sold the previous January.
Total sales volume was higher even though there were fewer properties sold, total sales volume for January 2022 was $100,594,674, up from $83,881,647 during January 2021.
Homes priced in the $501-750,000 price range made up for 28.2% of all sales in January, up from 27.2% of all sales the previous January. Residential homes in Frisco priced between $401-500,000 accounted for 27.5% of all sales, up from 25.3% at this time one year ago.
Homes priced at $751-1,000,000 made up for 24.8% of all sales during January, which is a sharp increase from just 8.6% during the previous January.
Homes priced between $1,000,000 and higher were on the market for just 16 days in January before being sold, down from 216 days on the market before being sold during January 2021.
Homes priced between $401-500,000 were on the market for 17 days before being sold, down from 37 days one year ago, and homes priced between $501-750,000 were on the market for 20 days before being sold, down from 50 at this time on year ago.
Sellers of single-family residential homes in Frisco, Texas were getting on average 104.1% of their original list price for their home at closing, up from 98.7% average during January 2021.
Sellers of properties priced between $201-300,000 received 106.2% of their list price at closing, up from 97.1% one year ago.
The next highest were homes priced between $501-750,000, sellers in this market received 105.9% of their original list price at closing, up from 100.2% during the previous January, and homes in the $401-500,000 range received 105% of their original list price at closing, up from 100.5% during January 2021.
What Does This Data Mean For Buyers
Buyers looking for a single-family residential home in Frisco, Texas should be prepared for higher prices and fewer homes to choose from. Competition is heavy as overbidding of properties in all markets continues.
Buyers should have financing in place and be ready to act when a property is found. Buyers should be aware that time is not their friend, and that the longer a buyer puts off a decision to buy, the more likely it will cost them more money.
Buyers should realize in a dynamic market that they need all the leverage they can get and that means having a great agent on your side. We are the experts in finding luxurious, one-of-a-kind properties for you in Frisco. Let us put our experience and knowledge to put you into a home today! Give us a call to get started!
What Does This Data Mean For Sellers
The market for homes in Frisco, Texas continues to favor sellers. Prices and demand continue to climb. Sellers of homes can expect a dynamic and active market to sell their homes. Overbidding of properties in all price categories continues into 2022.
Sellers can expect their property to sell quickly and possibly higher than asking. While interest rates are starting to climb, Frisco can expect continued buying activity into the summer. Sellers who may have been waiting should go ahead and get their property listed and on the market today.
If you are thinking of selling your home in Frisco, give us a call. Let us show you how we show off the most in-demand features of your home and market it to the most qualified of buyers to sell your home quickly and net you the most money possible. Don’t hesitate let’s get started today!
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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 $624,900 or less.
