Sales were up 4% for April in the Allen area. The average sales price increased by 11% while the median sales price climbed by 7%. We continue to see the majority of sales in the upper price ranges. Pending sales were up a strong 12% so we can look forward to May's sales being up. The number of new listings increased by 1% but the active listings fell by 5%. The months of inventory declined to 1.6 months.
Allen has a lot of new construction and about 40% of the active listings are builders new homes.
Sales: 117
Average Sales Price: 325,230
Median Sales Price: 275,000
Pending Sales: 125
New Listings: 179
Active Listings: 203
Months of Inventory: 1.6
Condos and Townhomes:
There are not enough condos and townhomes in the allen Area to generate a meaningful report.
Leases:
Leases climber by 7% in April. The average rent fell 3% as did the median rent. don’t think this is a trend. Just some lower priced units leasing. Pending leases jumped 100%. As in other areas Leases were at a very low level last April causing this April’s numbers to look very large. New leases declined by 13% while the active leases increased by 56%. While this increase did help supply, the months of inventory now sits at 1.3 months. Not much to choose from.
Leases: 46
Average Rent: $1,641
Median Rent: $1,550
Pending Leases: 32
New Listings: 40
Active Listings: 53
Information provided by The Real Estate Center at Texas A&M.
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