The answer depends on your criteria... Little Elm is the latest "in" place to buy. The Dallas market has always grown to the north (follows the money). Years ago the "in" place was Richardson (money, good schools). Then it became Plano (money, good schools). Frisco is the current "in" place (money, good schools). The next in line will be Little Elm. As Frisco fills, many homes buyers will seek better pricing in Little Elm. As money pours in, new schools are being built, new roads, businesses, etc.
Richardson, Plano, and Frisco all went through their growing pains. Little Elm now affords you the opportunity to get in early and for less money. Ten years from now you probably won't be able to see the boundary between between Frisco and Little Elm. There is a lot of lake front in Little Elm. Once the money arrives, there will be premium properties, too.
So, whether Little Elm is advantagous for you depends a bit on how long you would live there. And where you work (frequent) by comparison. The new bridge over Lake Lewisville and access to Dallas North Tollway make it fairly easy to commute if needed.
I sell a lot of new construction homes in Little Elm and Frisco. There are even some in city of Little Elm with Frisco schools (best of both worlds).
Great prices, but if you have to make a long drive, like to downtown Dallas to work, it can be a hike.
Or if you have to pay tolls on the bridge, that can make your commute more expensive.
Seems like a good value to me.
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Preferably in the Frisco ISD areas will give you the biggest potential. I also have several client testimonials from little elm on my website from this year and they are very happy.
If you would like assistance from an agent that works and knows that area well please contact for for my free assistance. There are new builder options in that area that are good options as well but you need representation when working with one.