McKinney, TX Residential Sales Report for April

Single-Family:

Sales were up a strong 26% in April in McKinney. The average sales price jumped 15% while the median sales price increased by 16%. Part of this increase in sales prices can be attributed to the builders new homes which are selling for about $54,000 above the sales prices for resale homes. Pending sales increased by 18% so we can expect Mays sales numbers to be positive. The number of new listings increased by 11% but as in other areas this increase did not help the active inventory which was down by 27%. The months of inventory now stands at 1.2 months.

Sales: 254

Average Sales Price: $314,433

Median Sales Price: 282,000

Pending Sales: 238

New Listings: 349

Active Listings: 274

Months of Inventory: 1.2

Condos and Townhomes:

There are very few condos and townhomes in McKinney. Numbers are not reported due to the extreme variation that can occur.

Leases:

Leases increased by 21% in April. The average rent increased by 5% will the median rent was up by 3%. Looks normal given the current market situation. Pending leased were up a whopping 184% but this was due to the fact that last April's leases were abnormally low. The number of new listings increased by 9% but the active leases fell by 2% leaving the months of inventory at 1 month. It’s just as had to find a property to lease as it is to find one to purchase.

Leases: 108

Average Rent: $1,772

Median Rent: $1,700

Pending Leases: 71

New Listings: 107

Active Listings: 88

Months of Inventory: 1