Sales in Allen dropped 3% in October as compared to the same time last year. The average sales price increased 8% while the median sales price rose 11%. As in prior months priced continue to be pushed higher due to sales being concentrated in the upper price ranges. Pending sales fell 16%. buyers are having a hard time finding a home to purchase due to the low inventory. New listings declined 6% but the number of active listings jumped 24%. Unfortunately this increase in inventory only causes the months of inventory to increase to 1.8 months. 6 months is normally considered a balanced market so you can eaisly see that we are very much still in a Sellers Market in Allen.
Sales: 114
Average Sales Price: $356,789
Median Sales Price: $306,000
Pending Sales: 111
New Listings: 123
Active Listings: 230
Months of Inventory: 1.8
Information provided by The Real Estate Center at Texas A&M
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