Housing permits in Frisco dip as land costs escalate and the market matures

Full article by Candace Carlisle and the Dallas Business Journal

As Frisco’s land costs skyrocket and the city matures as a North Texas housing market, builders have filed fewer housing permits in the past few months, which means fewer homes under construction in the city limits.

And for the first time in city history the median price for a new single-family home has surpassed the half-a-million-dollar mark.

“If you look at this trend, Frisco was a less expensive alternative to Plano when it was growing way back when and now Frisco is one of the higher-priced markets,” said Wilson, adding this is a reflection of the city’s maturing housing market.

Since the beginning of 2010, Frisco’s median price for a new home has escalated 78 percent from $285,132 to $507,757, with some of those costs tied to the rising cost of dirt in the city.

Depending on the site, land costs in some neighborhoods have tripled, rising from $1,000 per front foot to up to $3,000 per front foot, Wilson said. Read More >