McKinney TX Residential Sales Report for October

Sales were off but pending sales were up. It;s still a Seller's market.

Single-Family:

Sales were off by 16% in October as compared to a year ago. However, pending sales jumped by 29%. It looks like a number of sales that were to close in October were just pushed into November. The average sales price increased by 6% while the median sales price rose 9%. New listings climber by 14% and the active listings by 8%. While more inventory is helpful, the months of inventory only increased to 1.7 months. This is still very short of the 6 months that is considered a balanced supply/demand situation.

Sales: 194
Average Sales Price: $305,496
Median Sales Price: $272,700
Pending Sales: 235
New Listings: 277
Active Listings: 384
Months of Inventory: 1.7

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