Single-Family:
Sales were up by 10% in McKinney for the months of May. The average sales price climbed by 14% and the median sales price by 16%. As in other areas, we continue to see the majority of the sales concentrated in the upper price ranges. Pending sales increased by 9%. The number of new listings fell by 14% and the active listings dropped by 21%. this pulled the months of inventory down to 1.3 months.
Sales: 286
Average Sales Price: $316,992
Median Sales Price: $290,000
Pending Sales: 235
New Listings: 303
Active Listings: 303
Months of Inventory: 1.3
Leases:
Leases jumped 23% as compared to a year ago. The average rent increased by 4% while the median rent rose by 3%. Pending leases were up by 112%. The new listings climbed by 13% while the active listings jumped by 57%. Unfortunately this only increased the months of inventory to 1.3 months so if you are looking for a property to rent, you still will have a hard time.
Leases: 220
Average Rent: $2,042
Median Rent: 1,900
Pending Leases: 125
New Listings: 253
Active Listings: 211
Months of Inventory: 1.3
Information provided by The Real Estate Center at Texas A&M.
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