Single-Family:
Sales were up by 85% in McKinney for March. The average sales price increased by 18% while the median sales price climbed by 19%. As in other areas, A Lot of this increase is due to a disportionately amount of sales in the upper price ranges. Pending sales jumped by 27% so We can count on a strong April sales. The number of new listings increased by 7% but the active listings declined by 22%. About 33% of the listings a builder new homes. The months of inventory fell to 1 month.
Sales: 209
Average Sales Price: $314,342
Median Sales Price: $278,500
Pending sales: 233
New Listings: 276
Active Listings: 235
Months of Inventory: 1
Condos and Townhouses:
There are very few condos and Townhouses in the McKinney area. The number of sales is too low for any meaningful analysis.
Leases:
Leases were up 7% in March. The average rent declined by 4% while the median rent fell by 1%. Pending leases jumped by 157%. March of last year was a slow month for rentals. The number of new listings fell by 4% but the active listings climber by 27%. While this is good news, the months of inventory sits at only 1.1 months.
Leases: 89
Average Rent: $1,648
Median Rent: $1,600
Pending Leases: 54
New Listings: 101
Active Listings: 100
Months of Inventory: 1.1
Information provided by the Real Estate Center at Texas A&M.
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