The McKinney area managed to eek out a small 2% gain in sales for the month of July. The average sales price was up by 4% and the median sales price rose 5%. The pending sales fell 5% so it looks like August could see a decline in sales. The number of new listings increased 4% while the active listings jumped 29%. The months of inventory now stands at 2.3 months which is still very short of the 6 months that is considered a balanced supply/demand.
Sales: 280
Average Sales Price: $312,405
Median Sales Price: $285,250
Pending Sales : 275
New Listings: 404
Active Listings: 522
Months of Inventory: 2.3
Information provided by The Real Estate Center at Texas A&M
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