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.
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