Allen, TX Residential Sales Report for July

Single-Family:

Sales were up by 1% in July. The average sales price increased by 15% and the median sales price by 17%. As in past months these increases have largely been driven by more sales occurring in the upper price ranges. Pending sales declined by 9%. this is a little unusual because in other areas in july we have seen strong pending sales numbers. The number of new listings increased a health 19% but the active listings remained flat and the months of inventory declined slightly to 2.1 months. About 25% of the active listings are builder new homes.

Sales: 161
Average Sales Price: $345,286
Median Sales Price: $300.000
Pending Sales: 146
New Listings: 221
Active Listings: 259
Months of Inventory: 2.1

Leases:

Leasing activity declined by 19%. The average rent fell by 8% and the median rent dropped by 6%.
Not sure what caused these declines because it is atypical when compared to other areas of the Metroplex. Pending leases were up by 325%. The new listings increased by 16% and the active listings by 37%. This caused the months of inventory to rise to 1.3 months. Still very low.

Leases: 58
Average Rent: $1,777
Median Rent: $1,700
Pending Leases: 51
New Listings: 79
Active Listings: 67
Months of Inventory: 1.3

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