If there was ever a time to buy in Frisco, it’s now. As the Dallas Cowboys (and Tony Romo!) plan to move their world headquarters from Valley Ranch to one of the fastest-growing cities in the nation, home values are rocketing upwards. That’s great news for developers and homeowners inside this popular suburb.
Romo is not going quite that far north, of course. We got wind that Romo and his bride, Candice, are leaving Cottonwood Valley and building inside Glen Abbey, a fabulous gated development right off the Dallas North Tollway in far North Dallas. The lot for the new Cowboys HQ is just a ways from Stonebriar Centre, too. Basically, the Tollway is about to get a lot busier.
And apparently, so is Frisco. While the Cowboys facility won’t be finished until July 2016, the impact from the franchises’ move is already being felt, according to this report from Prudential (emphasis ours):
Prudential Texas Properties reports that an October 14 Frisco real estate report from California-based analytics tracker Altos Research saw the city’s 90-day median list price hit an all-time high of about $416,000. This is up from under $375,000 at the beginning of the year and is a $100,000 market jump from as recently as October of 2011.
Holy cow! That is some seriously immense growth in values! For those who are building on Republic Property Group’s Phillips Creek Ranch, that’s got to be great news. And it’s even more exciting for Realtors in Frisco, who are seeing those prices climb even higher as new single-family homes are in short supply.
“The buzz is reaching fever-pitch in Frisco as local home owners experience continued market growth from what seems like a ripple effect of the year’s most talked-about North Texas real estate venture,” says DD Flynn, VP of Marketing with Prudential Texas Properties. “The future of this rapidly developing city could not be more exciting.”
This is such an interesting development trend. I wonder, will any other big real estate moves precipitate such growth with home values as the Dallas Cowboys have?