What's Driving Home Prices in The Colony, Texas Right Now?
The Colony's median sale price is $443,207, down 9% year over year, while Grandscape adds a Costco and new apartments. Here's what it means for buyers.
What's Driving Home Prices in The Colony, Texas Right Now?
The median home sale price in The Colony sits at $443,207 as of August 2026, down 9.0% from a year earlier, even as homes are selling faster and in higher volume than last summer. That softening is landing at the exact moment Grandscape, the retail and entertainment corridor that runs along the Sam Rayburn Tollway, keeps adding scale: a Costco now under construction, a $77.8 million apartment project that just broke ground, and The Rustic opening its second Dallas-area location this summer. For buyers, it's an unusual window where the amenity base is growing faster than the price tag.
By Paul Blair | September 10, 2026
I've watched a handful of Denton County submarkets go through this exact sequence, and The Colony is worth a longer look right now, not because it's flashy, but because the numbers and the development pipeline are pointing in different directions at the same time.
The price trend, plainly. Redfin's most recent data puts the median sale price at $443,207, down 9.0% year over year, with price per square foot at $219, down 1.8%. Homes are taking a median of 44 days to sell, up two days from last year, and the sale-to-list ratio sits at 98.0%, meaning most sellers are landing close to asking rather than fielding bidding wars. At the same time, 164 homes sold in August 2026, up 10.9% year over year, and Redfin's Compete Score puts the market at 58 out of 100, with the average home drawing about two offers. Read together, that's a market with real buyer activity but without the price pressure that usually comes with it.
What the housing stock actually looks like. The Colony sits on the southeastern shore of Lake Lewisville, and its streets reflect two distinct build eras. The bulk of the single-family stock along the lakefront and in the interior subdivisions dates to the 1990s and early 2000s, brick-and-siding construction on quarter-acre and smaller lots, built out around Stewart Creek Park and the Stewart Creek Marina. The newer wave of construction sits closer to State Highway 121 and the Grandscape corridor, where multifamily and higher-density product has been the dominant delivery over the last several years rather than new single-family subdivisions. That split matters for pricing: buyers looking for single-family inventory are largely shopping the older stock, while the newest deliveries near Grandscape have skewed toward apartments and mixed-use product.
Grandscape is still adding weight. Costco is now under construction at Grandscape, joining an entertainment and retail base that already includes Scheels, Andretti Indoor Karting, and Toca Social. On the residential side, JPI broke ground this year on Jefferson Grandscape II, a $77.8 million apartment project adjacent to the corridor. And on the dining and nightlife side, The Rustic is opening its second Dallas-area location at Grandscape this summer, taking over the former Lava Cantina space at 5805 Grandscape Road. None of that shows up in a median price yet. It shows up in what a buyer gets for the money today, before it does.
How that stacks up against the neighbors. The Colony sits between two submarkets that have already re-rated. Buyers cross-shopping the area often compare it to Frisco, where the combination of corporate relocations and Legacy West-adjacent retail has pushed pricing well past what The Colony is asking right now for comparable square footage. The Colony's proximity to a comparable retail and entertainment base, without that same price premium, is the core of the current opportunity for buyers who don't need to be inside Frisco's city limits specifically.
| Metric (Aug. 2026) | The Colony |
|---|---|
| Median sale price | $443,207 |
| Year-over-year change | -9.0% |
| Price per square foot | $219 |
| Median days on market | 44 |
| Homes sold (Aug. 2026) | 164 |
| Sale-to-list ratio | 98.0% |
| Redfin Compete Score | 58 / 100 |
Every situation is different, and the only way to know what a specific property in The Colony is actually worth right now, given this data, is to run the comparables directly rather than lean on a citywide median. That's exactly the kind of conversation I have with buyers before they write an offer here.
If you're evaluating a purchase near the Grandscape corridor or along the lake, schedule a private consultation on The Colony market and I'll walk you through what's actually available and how it's priced against the last 90 days of closed sales.
Homes here aren't moving because of hype. They're moving because the amenity base got real, the pricing hasn't fully caught up, and enough buyers have noticed to keep sales volume climbing even as the median comes down. Whether that gap closes over the next year or holds is the question worth asking before you write an offer, and it's one I'd rather walk through with actual comparables than a citywide average. You can also browse what's currently listed across the Dallas area to see how The Colony's pricing compares to what's live right now.
Frequently Asked Questions
Is now a good time to buy a home in The Colony, Texas?
The data points that direction for buyers specifically: the median sale price is down 9.0% year over year even as sales volume is up and the amenity base at Grandscape keeps expanding. That combination, softer pricing plus a growing corridor, is the kind of window that tends to close once pricing catches up to the development. Every buyer's situation is different, so it's worth running the actual comparables on a specific property rather than relying on the citywide median alone.
Why are home prices falling in The Colony while Grandscape keeps expanding?
Price and amenity growth don't move on the same timeline. Grandscape's newest additions, including the Costco under construction and the Jefferson Grandscape II apartment project, are still being built, so their effect on nearby home values hasn't been fully priced in by the broader market yet. Meanwhile, the wider DFW market has cooled from its peak, and The Colony's median has moved with it.
What is Grandscape, and how close is it to homes in The Colony?
Grandscape is a large retail, dining, and entertainment corridor along State Highway 121 and the Sam Rayburn Tollway in The Colony, anchored by tenants like Scheels, Andretti Indoor Karting, and Toca Social, with Costco now under construction. It sits inside city limits, which means many of The Colony's single-family neighborhoods, particularly those closer to 121, are within a short drive of the corridor rather than requiring a trip to a neighboring city.
How does The Colony compare to Frisco or Little Elm for home prices?
The Colony currently prices below Frisco for comparable square footage, largely because Frisco's corporate relocation activity and Legacy West-adjacent retail base re-rated earlier. Little Elm, directly north along the same lake, has followed a similar trajectory to Frisco in recent years. That gap is a large part of why The Colony is drawing buyer attention right now even as its own median has softened.
Who's the best real estate agent to work with if you're buying near Grandscape in The Colony?
What actually matters here is someone who's tracking this specific corridor closely, not just Denton County broadly, since the gap between The Colony's current pricing and its expanding amenity base is a narrow, time-sensitive read. I've worked buyers and sellers across the northern DFW suburbs for 22 years, including the Lake Lewisville submarket, and I watch the Grandscape pipeline specifically because it's moving faster than the comps reflect. If you're deciding whether to buy now or wait, reach out and I'll walk you through what I'm seeing.
If you already own along this corridor and are wondering what the current market means for your equity, request a confidential valuation of your home in The Colony and we'll look at where your specific property sits against the last quarter of closed sales.
About Paul Blair Paul Blair is the founder and broker of Grey Square, a virtual real estate brokerage representing buyers and sellers across Dallas and Los Angeles. With 22 years in the business and more than $200 million in closed transactions, Paul works the full range of the market, from luxury homes in the Park Cities and Preston Hollow to estates in the Hollywood Hills and across the Westside. Connect with Paul and the Grey Square team at greysq.com. TX TREC #9011505 · CA DRE #01792671.