While the majority of the U.S. real estate market continues to struggle, there are definite signs of life in Frisco, TX. A number of key indicators show not only a rebound, but in some cases, the numbers in 2012 are surpassing the numbers for the 2009 data. Am I suggesting that this is a buoyant market? No, but the trends are certainly headed in the right direction.
Take a look at the graph below titled, New Listings, which is a representation for the volume of Homes For Sale In Frisco, TX. In the three higher volume price points in Frisco, the number of listings have come off their highs of 2010 – 2011. As real estate agents, we love listings, but too many paint a poor underlying economic picture. When these numbers settle down, especially in the higher volume price points, it’s a sign of greater market stability.
There are some other graphical representations of positive market indicators. They include, Days On Market, Average Price Per Square Foot (a real apples-for-apples indicator), Price Sold as a percentage of original asking price and of course, the number of Closed Sales. I’m not going to overload you with graphs and numbers, but I will put in one more fairly significant graph – Average Price Per Square Foot. When you are looking at Buying Homes In Frisco, or the surrounding areas including McKinney, Plano and Prosper, getting a professional market comparison by a seasoned agent is critical. And if they know their stuff, they’re going to zero in on Price Per Square Foot.
The positive move upard of the price per sq ft to levels beyond 2009, and 2010, is a strong indicator of growth. There are those who will tell you the Frisco market is slow, depressed, or even dead. Usually, these people have had their property on the market for an extended period, sometimes six months or more. The raft of positive indices underpinning Frisco home sales point these people to issues of presentation, pricing accuracy, or poor marketing by their agents, not the state of the Frisco market.
The top 5 most popular neighborhoods in Frisco, TX are:
- The Trails (average listing price $398,650)
- Starwood Village (average listing price $1,112,507)
- Grayhawk (average listing price $260,733)
- Preston Vineyards (average listing price $159,863)
- Heritage Lakes (average listing price $282,157)
The biggest price growth subdivision Frisco this week is:
- Starwood, with an average listing price of $644,950, an increase of 46.6% week-on-week
For expert analysis of the Frisco real estate marketplace, contact our Rebecca Armstrong on (432) 212-1707.