The real estate market in Frisco is red hot right now, thanks in part to a supply shortage and a lot of competition. While the housing market is described as very strong across all of North Texas right now, Frisco appears to be outperforming the rest.
Currently, Frisco is a hotter market than neighboring Dallas, Plano, Allen and McKinney. Some of that’s credited to a supply shortage in Frisco’s residential market.
That’s true in terms of homes for sale, rent and lease. Along with a fewer number of existing residential units, the city is also seeing a low number of available lots for building new homes.
Some say the current market is the strongest leasing market they’ve ever seen, as there aren’t even enough homes coming on the market to cover those who want to move to Frisco. Apartments are close to 100-percent occupancy, and leasing properties are receiving dozens of applications.
Local leaders say they don’t see the current market slowing down anytime soon. Some homes in Frisco are not only selling fast, but they’re also selling about 10-percent higher than list price.