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.
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