Welcome to this month’s Frisco, Texas, real estate market report presented to you by Rene Burchell Luxury Real Estate Service. Rene is one of the area’s most experienced realtors, give her a call today and she can answer all your questions about buying or selling a home during these uncertain times.
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A Look at Frisco Housing Stats
At the end of May, the median sale price for single-family homes in Frisco, Texas was $443,000, an increase from $425,000 during May 2019.
There were 233 homes sold, a drop from 361 one year ago, and the total volume was lower as well, down from $172,518,603 to $125,107,403.
- Sales of homes priced in the $301-500,000 range made up 52.4% of sales in Frisco during May, this is right in line with the percentage one year ago of 55.4%.
- Homes in the $501-750,00 price range made up 23.6% of sales, down only slightly from 24.1% the previous May.
- Single-family homes priced at $751,000 and higher made up for 12.9% of sales, and the $201-300,000 price range accounted for 10.3% of all sales.
Sellers sale price versus list price ratio also held steady compared to this time last year.
- Sellers in the $151-200,000 price range were getting 96.4% of the asking price, down from 100% one year ago.
- Sellers in the $201-300,000 market were getting 97.8% of their asking price, no change from one year ago.
- Homes listed in the $310-500,000 price range received 97.6% of asking price.
- Sales in the $501-750,000 price range averaged 97.2% of asking price, and sellers in $751,000 and higher received 95.3% of their asking price.
At the end of May 2020, homes averaged a minimum of 38 days on the market before being sold.
- Homes listed in the $151-200,000 price range averaged 38 days on the market before being sold, a steep from the average of 3 days one year ago.
- Single-family homes listed in the $201-300,000 range averaged 35 days on the market before being sold, no change from May 2019.
- Homes offered in the $301-500,000 range stayed on the market for 51 days before being sold, and homes that were listed at $501,000 and higher were on the market for 55 days before being sold, a drop from the average of 73 days one year ago
What Does This Data Mean For Buyers
With interest rates still low, buyers will want to have financing in place and ready to act when a property is found. As restrictions end in localities, more inventory will start to become available, helping buyers, and possibly slowing the rise in home prices.
What Does This Data Mean For Sellers
While prices have steadily increased, some sellers may see their property on the market a little longer as some buyers have had to halt their home search. If you are thinking of buying or selling a home, give Rene a call today!
She is one of the area’s most experienced realtors, having won several awards and numerous industry accolades. Rene will guide you through the entire transaction from contract to close, safely, quickly, and professionally.
Frisco Homes for Sale
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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$430,000 or less.
