Sales were up by 3% in the Allen area in March. The average sales price increased by 8% while the median sales price climbed 7%. Pending sales were down by 18%. In the other areas where we have seen a drop in sales or pending sales, it can be chalked up buyers just not being able to find the house they want due to the extreme shortage of inventory. New listings declined by 15% and the number of active listings fell 1%. About 40% of the active listings are builders new homes.
Sales: 117
Average Sales Price: $314,006
Median Sales Price: $265,000
Pending Sales: 108
New Listings: 148
Active Listings: 184
Months of Inventory. 1.5
Condos and Townhouses:
There are not enough condos and townhouses in the Allen area to make a meaningful report.
Leases:
Leases were off by 27% in March. The average and median rent increased by 2%. The pending leases jumped by 360%. Last March numbers were very low. The number of new listings climbed by 14% and the active listings by 16%. The months of inventory remains very low at 1.3 months.
Leases: 27
Average Rent: $1,760
Median Rent: $1,700
Pending Leases: 23
New Listings: 57
Active Listings: 52
Months of Inventory: 1.3
Information provided by the Real Estate Center at Texas A&M.
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