The Home Value in Frisco Has Gone Up

According to a recent study conducted by online real estate giant, Zillow, Frisco has a well-balanced home market temperature. Based on three metrics (sale-to-list ratio, price cut prevalence and time-on-market) the market temperature provides information on the current balance of bargaining power between buyers and sellers. The market temperature for Frisco is considered neutral.
The median home value in Frisco has gone up 14.1% over the past year. From roughly $227,000 in 2014, to just over $315,000 now. Additionally, home values are predicted to rise another 8.0% within the next year.
Though the median list price per square foot data was not collected, the median rent price in Frisco is $1,800/month. That number is higher than the average rent price for the Dallas-Fort Worth Metroplex median of $1,350.
Foreclosures are expected to impact home values over the next several years. In Frisco, 1.0 homes are foreclosed per 10,000. This number is much lower than the Dallas-Fort Worth Metroplex value, which matches the national value of 3.5.
The first step of the foreclosure process happens when a homeowner fails to make a mortgage payment. This is known as mortgage delinquency. The percent of delinquent mortgages in Frisco is 0.7%, slightly lower than the national value of 6.0%.
U.S. home values have fallen by more than 20% nationally from their peak in 2007, to their trough in 2011. Many U.S. homeowners are now considered under water on their home mortgages. While some North Texas homeowners have literally found their homes under water, for the sake of this study, under water means homeowners owe more on their mortgage than their home is worth. 5.2% of Frisco homeowners are under water, which is lower than the Dallas-Fort Worth Metroplex average of 6.9%.