Home > Local Real Estate Markets > Frisco TX Homes Homes Sales Housing Summary Report for 2010

Published January 21 2011 7:52 am

2,486 Frisco TX Homes Sold for $632,149,580 in 2010

(Source: NTREIS Innovia on January 21 2011)

The lowest priced home sold for $68,000 in Hickory Hills near Preston and Hickory. It is a duplex with 3-bedrooms, 2 full bathrooms 1,100 square feet, built in 1985. This is a bank-owned foreclosure property. It took 13 days to sell the property.

The highest priced Frisco TX home was sold in Stonebriar Creek $2.295 Million - a 9,500 square-foot Frisco Texas Country Hill style luxury home, situated on 2.5 acres. Everything in this home spells magnificence: from the Texas-size family room, into the kitchen, this 6 bedroom, 6 1/2 bathrooms and 4-car garage is a new owner's pride. It took approximately 98 days to sell. What's more amazing is that this property was sold in cash. (Good job!).

21 homes over $1 Million sold in the Frisco TX luxury home market.

The average home in Frisco TX is $281,738. An average home in Frisco TX is a 4 bedrooms, 2 bathrooms, 3,100 square feet. The average price per square feet is $91/sq.ft. The average days on market to sell a home in Frisco TX is 89 days for 2010, an improvement from the previous year (2009) of 100 days.

The median sales price of Frisco TX homes is $239,090. This means half the homes sold in Frisco TX in October sold for less than $239,090 and half over $239,090.

Some interesting facts about Year 2009 and Year 2010 Frisco TX home sales numbers:

	2010	2009	% Change
Number of Transactions	2,486	3,039	- 22 %
Total Sales (Real Estate Value)	$632,149,580	$812,179,743	- 22 %
Average Sold Price	$ 266,559	$ 281,738	+ 5 %
Median Sold Price	$ 239,090	$ 224,699	+ 6 %
Average Days on Market	100	89	+ 11 %

Commentary of Frisco TX homes for sale market:

The numbers of transactions for homes sold in Frisco TX for all of 2010 is down 22% and the real estate sales value went down just as much (22%). The good news is that although in 2010, we sold less number of homes, the average home sales price and median home sales price are up 5% and 6% respectively.

As expected, the sales volume at the beginning of 2010 looked extremely positive - where it surpassed 2009 numbers (the same time comparisons) by as high as 40% better. However, after the tax credit ended in April 30th 2010, there seems to be a void in the Frisco TX real estate market for the next 3 - 4 months. It took until 4th Quarter 2010 before situations seem to be stabilized.

The Tax Credit did nothing to stimulate the Frisco TX housing economy. It did not necessarily attracted any new home buyers into the marketplace. It encouraged those who already had plans to purchase in 2010 to do it sooner (by April 30th 2010) rather than later.

Frisco TX home buyers are purchasing more expensive homes despite the outlook on the economy. That is definitely a good sign in the Frisco TX real estate market.

As of mid-January 2011, there are 1,091 homes for sale in Frisco TX. They range from a $65,000 Frisco TX half-duplex to a $4.5 Million Frisco TX luxury estate. The lowest priced single family home in Frisco TX is priced at $78,000 - an older Frisco TX home (1-bedroom, 1 1/2 bathrooms) built in 1960 in the Original Frisco TX neighborhood just off Preston/ Main Street near Historic Downtown Frisco. There are 46 homes for sale over $1 Million. The highest price home in Frisco is located in Stonebriar Creek for $4.5 Million - a Texas-size 8,100 square foot home on 5.8 acres with horses permitted.

Will prices go up or down? It is important to understand if prices should go UP or DOWN depends on the inventory levels of unsold homes. It takes approximately 23 weeks (approximately 6 months) to sell all Frisco TX home inventory at its present rate. According to Real Estate Industry analysts, a 6-month inventory supply for any real estate market such as the Frisco TX area is considered grounds for prices heading upwards.

Frisco TX Foreclosure Inventory: In 2009, Frisco TX sold 503 bank-owned homes (better known by consumers as Foreclosure homes). In 2010, the number fell to 376 homes (down 25%). In some Frisco TX neighborhoods, the number of foreclosure inventories have reduced and home prices in those neighborhoods have stabilized. It will take a while for it to head up again. But it is still a positive sign for the heavily foreclosed stricken Frisco TX neighborhoods.

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Content & Photography Copyright © 2011 by Loreena Yeo (3:16 team REALTY)
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When she arrived for our appointment, we went through the normal preliminary procedures and all was fine. Then she surprised us. She had already done most of the work and only needed to take a few pictures of the inside and determine the price that we would be comfortable asking. She also spent a great deal of time explaining to us how the whole sales process work and what we could expect.

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Ultimately, Loreena introduced us to the house we bought--it was not one we found from our own hours of searching web listings--based on the the comments we had made while we visited these different homes. This is a testimony to her ability to listen well and to work proactively on our behalf.

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We were completely impressed with Loreena. She helped us find and buy a home in Frisco. We have very high expectations from a realtor and she surpassed them. Knows her market extremely well, not just the technical market pricing data, but the nuances of all the neighborhoods as well. One of the most responsive and professional persons I've met in my entire business career.

Ruth & Jerry Meek, Frisco TX

I just want to thank you again for your help in selling our house. In this tough economy and market, I really didn't expect to get an offer. But you counseled me so well in pricing the house to sell and yet not letting me accept an offer that was too low. I believe we got the best deal we could have. I was so pleased and surprised with what we walked away with.

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