Prices continue to climb as inventories shrink!
Sales were up 7% in February as compared to the same time last year. The average sales price increased 10% and the median sales price rose 8%. Pending sales took a sharp drop of 22%. Not sure what caused that drop unless it was the shortage of inventory. New listings fell 15% and this dropped the active listings to a minus 5%. The months of inventory declined to 1.2 months.
By the way, if you are looking for a home under $200,000 you had better concentrate your search somewhere besides Allen. As of this writing, there is only 1 home listed in MLS under $200,000.
Sales: 98
Average Sales Price: $356,638
Median Sales Price: $317,450
Pending Sales: 90
New Listings: 113
Active Listings: 148
Months of Inventory: 1.2
Information provided by The Real Estate Center
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