Allen, TX Residential Sales Report for February

Single-Family:

Sales were off by 7% in Allen for the month of February. The average sales price climbed 17% while the median sales price jumped by 27%. The pending listings increased by 8%. There was an 11% decline in the number of new listings while the active listings increased by 7%. The months of inventory rose slightly to 1.5 months. Demand is still strong but sales are being affected by the shortage of inventory. About half on the active listings are builders new homes so if you are looking for an existing home in Allen you only have about 80 spread across all the price ranges to choose from.

Sales: 84

Average Sales Price: $356,857

Median Sales Price: $335,380

Pending Sales: 82

New Listings: 122

Active listings: 179

Months of Inventory: 1.5

Condos and Townhouses:

There are not enough condos and townhouses in Allen to create a statistically valid report.

Leases:

Leases were off by 44% in February. The average rent increased by 75 and the median rent by 3%. Pending leases jumped 31%. The number of new listings increased by 2% and the active listings by 7% The months of inventory did increase to a whopping 1.1 months meaning you will have just a hard a time finding a home to lease as you will finding a home to buy.

Leases: 23

Average Rent: $1,776

Median Rent: $1,700

Pending Leases: 17

New Listings: 42

Active listings: 47

Months of Inventory: 1.1

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