Allen, TX Residential Report for December

Single-Family:

Single-Family homes sales in Allen were up by 16% in December. The average sales price climbed by 17% and the median sales price jumped a whopping 26%. The large disparity between these two numbers is caused by more sales being in the upper price ranges. While I do not have a breakdown of sales by price ranges in the Allen area, I can tell you that every price range below $140,000 in the Dallas area is in double digits to the negative and I do not believe Allen would be any different.

Pending Sales were up by 27%. New listings climber by 11% and the number of active listings increased by 24% but this only helped the months of inventory to increase slightly to 1.4 months.

Sales: 122

Average Sales Price: $326,940

Median Sales Price: $289,000

Pending Sales: 66

New Listings: 68

Active listings: 169

Months of Inventory: 1.4 months

Condos and Townhouses:

There are very few condos and townhouses in Allen. Because of this fact, the numbers are very volatile and can not really provide you with a trend.   

Leases:

Leases increased by 5% in December. The average rent was up by 1% and the median rent increased by 13%. Pending leases were up by 55%. The number of new listings jumped 25% but due to the increased executed leases the active leases declined by 2%. The months of inventory remains very low at 1.1 months.

Leases: 41

Average Rent: $1,764

Median Rent: $1,700

Pending Leases: 17

New Listings: 35

Active listings: 48

Months of Inventory: 1.1

Information provided by the Real Estate Center at Texas A&M.

Plano, TX Residential Sales Activity Report for December

Single-Family:

Plano experienced a 2% drop in sales for December. The average sales price increased by 5% and the median price by 4%. Pending sales were up by 27% indicating a rebound in January in closed sales. The number of new listings increased by 5% but the number of active listings declined by 27% leaving the months of inventory at 0.9 months. The market remains extremely tight with buyers finding very little to chose from.

Sales: 251

Average Sales Price: $309,490

Median Sales Price: $267,100

Pending Sales: 174

New Listings: 169

Active Listings: 260

Months of Inventory: 0.9

Condo and Townhouse:

There are not many condos and townhouses in Plano so these numbers can be volatile.

Sales were down by 22%. The average sales price was down by 3% while the median sales price increased by 2%. Pending Sales declined by 38%. The number of new listings increased by 55% but the active listings declined by 52%. The months of inventory stands at 0.5.

Sales : 22

Average Sales Price: $215,862

Median Sales Price: $196,750

Pending Sales : 10

New Listings: 17

Active Listings: 11

Months of Inventory: 0.5

Leases:

Leases were up by 43%. The average lease price was flat and the median rent increased by 4%. Pending leases jumped by 178%. The number of new listings increased by 49% while the number of active leases was up by 29%. Even with the sharp jump in the new listings and the active listings the months of inventory remains very low at 1.4 months.

Leases: 123

Average rent price: $1,792

Median Rent Price: $1,750

Pending Leases: 52

New Listings: 156

Active Listings: 205

Months of Inventory: 1.4

Information provided by the Real Estate Center at Texas A&M.

Lake Highlands/North East Dallas Residential Sales Activity Report for December

Single-Family:

Sales in the Lake Highlands/Northeast Dallas area were up by 2% in December. The average sales price increased by 1% and the median sales price was up by 6%. Pending sales jumped 50%. The number of new listings was up by 52% but this was offset by sales leaving the number of active listings declined by 4%. The months of inventory continued to drop and now stands at 1.5 months.

Sales: 59

Average Sales Price: $319,262

Median Sales Price: $309,000

Pending Sales: 42

New Listings: 38

Active Listings: 95

Months of Inventory: 1.5

Information provided by The Real Estate Center at Texas A&M

Richardson, TX Residential Sales Activity Report for December

Single-Family:

Sales were down in the Richardson area in December by 22%. There are still a lot of buyers out there, but due to the extreme shortage of properties for sale, they just cannot find a home to buy. The average sales price increased by 22% and the median sales price jumped 18%. These price increases are also being fueled by the shortage of properties especially in the lower price ranges. Pending sales were up by 11%. We did see a small increase of 7 percent in the new listings, but the number of active listings declined by 12%. The months of inventory is at 0.9%. Yes, that’s right: less than 1 month’s supply!

Sales: 80

Average Sales Price: $238,112

Median Sales Price: $211,750

Pending Sales: 62

New Listings: 64

Active listings: 93

Months of Inventory: 0.9

Condos and Townhouses:

There are relatively few condo and townhouse complexes in Richardson so these numbers tend to jump around.

Sales were up by 91% in December. The average sales price increased by 7% while the median sales price also increased by 7%. The number of pending sales was up by a whopping 375%. I told you these numbers can jump around. New listings increased by 33% but the active listings dropped by 49%. The months of inventory declined to 1.6 months.

Sales: 21

Average Sales Price: $112,830

Median Sales Price: $80,120

Pending Sales: 19

New Listings: 12

Active Listings: 21

Months of Inventory: 1.6

Leases:

We are starting to see a decline in lease activity in a number of areas along with declines in rental rates. At this point I do not know if demand is slacking or if the shortage of rental properties is forcing potential tenants into apartments.

Leases were down by 14%. The average rent declined by 8% and the median rent was flat. In this case, it looks like there were simply more properties leasing in the lower price ranges and pulling the average down: but it is something to keep an eye on. The number of pending leases was up by 78%. The new listings were down by 13% and the active listings declined by 13%. The months of inventory remains very low at 1.1 months.

Leases: 24

Average Rent: $1,319

Median Rent: $1,400

Pending Leases: 16

New Listings: 28

Active Listings: 46

Months of Inventory: 1.1

Far North Dallas Residential Sales Activity Report for December

Single-Family

Sales in Far North Dallas were up by 3% compared to last  December. The average sales price jumped by 29% and the median sales price increased by 17%. These large increases are indicative of sales being skewed to the higher priced homes. Pending Sales increased by 20%. The number of new listings increased by 65% and while this large increase certainly helped the active listings were still down by 1% and the months of inventory remains very low at 1.6 months.

Sales: 103

Average Sales Price: $453,611

Median Sales Price: $346,500

Pending Sales: 55

New Listings: 66

Active Listings: 158

Months of Inventory: 1.6

Condos and Townhouses:

Condo and Townhouse sales were up by 69%. The average sales price increased by 20%. The median sales price went up by 93%. This is a clear indication that there were a number of abnormal sales at the high end. Pending Sales increased by 33%. The number of new listings declined by 3% and the active listings declined by 35%. The months of inventory is at 1.1 months. It’s very hard to find a condo or townhouse in this area.

Sales: 49

Average Sales Price: $178,287

Median Sales Price: $175,250

Pending Sales: 36

New Listings: 31

Active Listings: 53

Months of Inventory: 1.1

Leases:

Leases increased by 6% in December. The average rent declined by 4% and the median rent was flat. just looks like more lower priced properties leased in December in this area pulling the average down. Pending leases were up a whopping 360% compared to a year ago. this is really an aberration.  Last Decembers’ numbers were just very low. the number of new listings dropped by 21% while the active listings declined by 35%. The months of inventory is at 1.2 months. Not many properties to choose from!

Leases: 37

Average Rent: $1,602

Median Rent: $1,500

Pending Leases: 23

New Listings: 33

Active Listings: 54

Months of Inventory: 1.2

Information provided by the Real Estate Center at Texas A&M.

Dallas Area Residential Sales Activity Report for December

Single Family:

Sales were up by 12% in December as compared to last December. The average sales price increased by 9% while the median sales price was up by 11%. Pending Sales jumped by a strong 26% which means that January sales should be very good. The number of new listings showed a good increase of 13% but the number of active listings was down by 14% compared to last year. The months of inventory dropped from 2.5 months in november to 2.2 months in december. Until we see the months of inventory start to increase, we can anticipate prices will continue to climb and buyers will have a hard time finding a home to purchase.

Sales: 7,701

Average Sales Price: $249,731

Median Sales Price: $193,940

Pending Sales: 4,845

New Listings: 5,491

Active Listings: 16,518

Months of Inventory: 2.2

Condos and Townhouses:

Sales were up by 15%. The average sales price increased by 6% and the median sales price was up by 12%. Pending Sales increased by 11%. New listings were up by 12% but like single-family the number of active listings decreased by 12%. The months of inventory declined from 2.7 months in November to 2.4 months in December.

Sales: 501

Average Sales Price: $231,690

Median Sales Price: $190,000

Pending Sales: 309

New Listings: 414

Active Listings: 1,197

Leases:

The number of leases in December was up by 1%. The average price increased by 4% and the median price by 8%. The number of pending leases remains very high with an increase of 171%. As with the last several months it looks like we are haveing a large number of leases roll over.

Leases: 2,227

Average Rent price: $1,501

Median Rent Price: $1,400

Pending Leases: 1,105

New Listings: 2,932

Active Listings: 4,252

Information provided by The Real Estate Center at Texas A&M.

Frisco, TX Residential Sales Activity Report for November

Single-Family:

Sales were down by 2% in Frisco. The average sales price increased by 5% and the median sales price by 3%. The pending sales jumped by 25%. The number of new listings declined by 7% and the active listings dropped 16%. The months of inventory shrank to 1.4 months. About 50% of the active inventory in Frisco is Builder new construction.

Sales: 253

Average Sales Price: $363,566

Median Sales Price: $314,500

Pending Sales: 232

New Listings: 217

Active Listings: 446

Months of Inventory: 1.4

Condos and Townhouses:

There are very few condos and townhouses in Plano. Because of the very small supply the numbers of sales and other data can be very erratic and of not much value.

Leases:

Leases were up 35% for November. The average rent increased by 5% and the median rent by 6%. The number of pending leases jumped by 205%. The new listings dropped by 3% but the active listings increased by 22%. however, the months of inventory only increased to 1.4 months still leaving it very hard to find a home to rent in Frisco.

Leases: 143

Average Rent: $1,990

Median Rent: $1,800

Pending Leases: 61

New Listings: 122

Active listings:  208

Months of Inventory: 1.4

Information provided by The Real Estate Center at Texas A&M

McKinney, TX Residential Sales Activity Report for November

Single-Family:

Sales were down by 19% in Mckinney during November. This decreased is not caused by a decline in demand but due to the shortage of homes available and buyers just not being able to find what they want. The average sales price increases by 19% and the median price went up by 13%. Pending sales were up by 5%. We saw an 8% increase in the number of new listings but the active listings declined by 12% leaving a months of inventory at 1.3%

Sales: 163

Average Sales Price: $301,799

Median Sales Price: $260,000

Pending Sales: 169

New Listings: 177

Active listings: 298

Months of Inventory: 1.3

About 40% of the active listings in MLS are Builders new construction. The vast majority of these listings are under construction or have not been started.

Condos and Townhouses:

There are very few condos and townhouses in McKinney. Because of the very small supply the numbers of sales and other data can be very erratic and of not much value.

Leases:

Leases declined by 9% in Mckinney during November. The Average rent increases by 2% and the median rent increased by 10%. The number of pending leases jumped by 218%. The new listings increased by 3% while the active listings declined by 11%. The months of inventory is at 1.1 months. It’s harder to find a rental in McKinney than it is to find a single-family home to purchase.

Leases: 72

Average Rent: $1,652

Median Rent: $1,650

Pending Leases: 35

New Listings: 78

Active Listings: 92

Months of Inventory: 1.1

Information provided by The Real Estate Center at Texas A&M.

1115 Windsong for Sale

Allen, TX Residential Sales Activity Report for November

Single-Family:

Sales were up by 1% in Allen for November. The average sales price jumped 145 while the median sales price increased by 13%.  As we have seen in other areas, sales were concentrated in the price ranges  above $200,000. Pending sales increased by 8%. The number of new listings increased by 14% and the number of active listings was up by 23%. A large part of the increase in the number of active listings was due to builders placing more of their properties in MLS rather than owner-occupants wanting to sell. About 50% of the active listings in MLS are builder homes most of which are under construction or have not even been started.

Condos and Townhouses:

There are very few condos and townhouses in Allen. Because of the very small supply the numbers of sales and other data can be very erratic and of not much value.

Leases:

Leases declined by 6% in November: The average rent was up by 10% and the median rent was also up by 10%. The number of pending eases jumped by 111%. New listings increased by 19% but the active listings declined by 5%. The months of inventory is 1.4 months. If you are looking for a rental property in Allen you will have a hard time finding one.

Leases: 29

Average Rent: $1,820

Median Rent: $1,650

Pending leases: 19

New Listings: 51

Active listings: 61

Months of Inventory: 1.4

Information provided by The Real Estate Center at Texas A&M.