Sales were up. It's still a seller's market.
Single-Family:
Allen's High School football team finally lost a game in December (57 straight wins) but the residential sale market continued on a winning streak. Sales were up by 8% in December and pending sales were also up by 8%. There was a decline of 8% in the average sales price and a 9% decline in the median sales price. I'm not sure why these declines happened but I would not hold my breath waiting for additional drops in prices. The number of new listings fell by 4% and the active listings by 18%. This left the months of inventory at 1.2 month.
It's actually harder to find an existing home in Allen that the numbers would indicate because about 50% of the inventory in MLS is Builder's new homes. When you take this out of the mix the months of inventory falls to about 0.6 months. As of this writing there were 60 pre-owned homes on the market and only 3 were under $200,000.
Sales: 127
Average Sales Price: $306,172
Median Sales Price: $275,000
Pending Sales: 71
New Listings: 65
Active Listings: 138
Months of Inventory: 1.2
If you live in the Allen area and would like a personalized Comparative Market Analysis (CMA) on your home delivered to your email in just a few minutes, then click the link below to take advantage of this offer.
If you live in the Allen area and would like a personalized Comparative Market Analysis (CMA) on your home delivered to your email in just a few minutes, then click the link below to take advantage of this offer.
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