Housing Prices in Traditions of Frisco on the Rise

Spring is upon us! This is the beginning of prime time for most of our spring cleaning, home repairs, and clean-up/ prep work for many homeowners out there. If you are buying, the good news is there is a lot of inventory out there. If you are selling, the good news is the solid seller’s market is looking strong.

If you are searching to relocate within North Texas or even adjust your home size, whether it be up- or down-sized Frisco is one area you might want to strongly consider. Besides the obvious benefits to this upscale, suburban town such as highly rated schools, close proximity to high-quality shopping, museums, family friendly activities, and a variety of minor league sporting teams the housing market in Frisco is ever so appealing.

Buying or selling in Frisco this spring is appealing for more than one reason… sellers are very happy these days with the 2.2 months on the market. That is a typical turn-time expectation for a seller’s turn time which is typical for a stronger seller’s market.

As an example of what you might expect to find in Frisco here is a quick synopsis of the pre-owned housing market date for Christie ranch and 3 more surrounding neighborhoods – Grayhawk, Newman Village, Northridge Estates.

In 2013 we were seeing the average price per square foot around $92.62 and average days on the market at 26 days. The median house price in the area was $270,000, while the average was $287,795. That year wrapped up with a total of 170 houses sold.

Moving to 2014, the numbers have only improved. We saw 183 homes sold; averaging $102.24 per square foot and moving on an average of 28 days on the market. The median home price increased to $297,740 and the average jumped to $319,717.

Adding the new home sales, homes sales numbers looked just as exciting with the numbers starting a little higher than the pre-owned only, but increasing in the same manner. While the average days on the market were longer (49 – 2013and 46 – 2014) the median and average home prices were higher.   $278,500/$308,520 median/average in 2013, but showing a median price increase of 8.25% to $301,500/$325, 512 respectively.

To look more in-depth into what this could mean for you, call us for your real estate review today!

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