Frisco TX August 2010 Sold Homes Market Report
Published September 6 2010 8:52 am
In August 2010, Frisco TX sold 152 homes. These includes single-family homes, townhomes and duplexes in the City of Frisco TX. MLS area 55 not including the homes not in Frisco TX.
January 2010 = 95 Frisco TX homes sold
February 2010 = 118 Frisco TX homes sold
152 Frisco TX Homes Sold for $43,348,720 in August 2010
The lowest priced home sold for $77,000 in Preston Manor near
Preston and Main Street – a 2-bedrooms, 1 bathroom 2-story duplex built in 1983 at approximately 1,100 square feet. It took the seller 183 days (6 months) to sell the property.
The highest priced Frisco TX home was sold in Villages of Stonebriar Park for $775,000 – a 6,200 square-foot Frisco TX luxury home, 5-bedrooms, 6 full bathrooms, 2 half bathrooms with 3-car garage, built in 2005 located on a 1/2 acre lot size. It is a bank foreclosure and its original list price was $985,000 . It took approximately 3 months to sell.
The average home in Frisco TX is $285,189 (down from the high of $314,000 in July 2010). An average home in Frisco TX is a 3 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 74 days, 9 days
shorter than the same time last month.
The median sales price of Frisco TX homes is $249,500. This means half the homes sold in Frisco TX in August sold for less than $249,500 and half over $249,500.
Some interesting facts about August 2009 and August 2010 sales numbers:
|August 2009||August 2010||% Change|
|Number of Transactions||243||154||– 37 %|
|Total Sales (Real Estate Value)||$ 71,317,778||$ 43,348,720||– 39 %|
|Average Sold Price||$ 293,489||$ 285,189||– 3%|
|Median Sold Price||$ 235,000||$ 249,500||+ 6 %|
|Average Days on Market||79||74||+ 6 %|
Here is the snapshot of the homes sold in Frisco by PRICE RANGE for August 2010:
|Price Range||No. of Homes Sold||Percentage of Homes Sold|
|Less than $100K||2||1 %|
|$100K – $199,999||36||23 %|
|$200K – $299,999||63||41 %|
|$300K – $399,999||32||21%|
|$400K – $499,999||12||8 %|
|$500K – $999,999||9||6 %|
|$1 Million & up||0||0 %|
Commentary of Frisco TX homes for sale market:
The numbers in August 2010 may seem pretty depressing, falling 37% when comparing to the same time last year. However, the numbers as presented in August numbers were directly affected by the Frisco TX First Time Home Buyer and Repeat Buyer Tax Credits where
buyers who made real estate purchase decisions in 2010 would have done so prior to the end of the Federal Tax Housing credit which ended April 2010 – which co-incidentally, April 2010 also was Frisco TX highest and best sales reports 22% better than the same time last year. Frisco TX home buyers are holding out longer and negotiating much harder than before. Majority are not
pressured to find a home by a certain dateline and will buy only when the right property with the right price comes along.
There are 1,072 homes for sale in Frisco TX. They range from a $69,000 Frisco TX townhome to a $4 Million Frisco TX luxury estate. The lowest priced single family home in Frisco TX is priced at $79,500 – an older Frisco TX home (1-bedroom, 1-bathroom) built in 1960 in the Original Frisco TX
neighborhood just off Main Street. There are 56 homes for sale over $1 Million. The highest price home in Frisco is located in Villages of Stonebriar Park.
The average is $402,989 at $115/square feet and 3,500 square feet, 4-bedrooms, 3-bathrooms and at an average 95 days on the market.
Absorption Rate: It takes approximately 30 weeks (7 1/2 months) to sell all Frisco TX home inventory at its present rate (August 2010).