Single_Family:
Sales were off by 5% in McKinney for February. The average sales price was up by 8% while the median sales price climber by 5%. Pending sales were flat. The number of new listings fell by 2% and the number of active listings dropped by 15%. The months of inventory fell to 1.1 months. Sales are being affected by the extremely low inventory. Buyers just can not find a home to buy.
Sales: 147
Average Sales Price: $291,674
Median Sales Price: $263,000
Pending Sales: 162
New Listings: 216
Active listings: 250
Months of Inventory: 1.1
Condos and Townhouses:
There are not enough condos and townhouses in McKinney to produce any meaningful report.
Leases:
Leases were down by 15% in February. The average rent declined by 2% while the median rent was flat. Pending leases jumped by 105%. The number of new listings increased by 7% and the active listings jumped 43%. The bad news is that this large increase in the active listings only increased the months of inventory to 1.3 months.
Leases: 57
Average Rent: $1,546
Median Rent: $1,580
Pending Leases: 43
New Listings: 76
Active listings: 113
Months of inventory: 1.3
Information provided by the Real Estate Center at Texas A&M
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