Allen, TX Residential Sales Report for September

Sales of single-family homes were up in September. The sales prices were flat. Leases were also up with rents steady.

Single-Family:

Sales were up by 6% in September as compared to a year ago. The average sales price declined by 1% but the median sales price was up by 1%. Just some gyrations in the monthly sales. Pending Sales fell by 2%. The number of new listings dropped 1% and the active listings declined by 9%. The months of inventory increased to 1.6 months. Still a very short supply.
Allen has a lot of new construction and about 25% of the listings in MLS are builders new homes. The numbers can be effected by builders sales and new listings. The average list price for a new home in Allen is $563,641 while the average sales price over the last 90 days was $558,483. The average Sales price of a pre-owned home over the sales period was $270,000.

Sales: $139
Average Sales Price: $322,042
Median Sales Price: $282,000
Pending Sales: 124
New Listings: 114
Active listings: 196
Months of Inventory: 1.6

Leases:

Leasing activity increased by 15%. The average rent fell by 7% but the median rent was up by 4%. nothing to be concerned about. Pending leases were flat. The new listing rose by 2% and the active listings jumped by 15%. Would like to be able to say the increase in inventory was helping but the increase only brought the months of inventory to 1.4 months. It's very hard o find a good property to rent in Allen.

Leases: 46
Average Rent: $1,762
Median Rent: $1,750
Pending Leases: 21
New Listings: 62
Active Listings: 62
Months of Inventory: 1.4

Information provided by The Real Estate Center at Texas A&M