Single-Family:

Sales were up by 10% in McKinney for the months of May. The average sales price climbed by 14% and the median sales price by 16%. As in other areas, we continue to see the majority of the sales concentrated in the upper price ranges. Pending sales increased by 9%. The number of new listings fell by 14% and the active listings dropped by 21%. this pulled the months of inventory down to 1.3 months.

Sales: 286

Average Sales Price: $316,992

Median Sales Price: $290,000

Pending Sales: 235

New Listings: 303

Active Listings: 303

Months of Inventory: 1.3

Leases:

Leases jumped 23% as compared to a year ago. The average rent increased by 4% while the median rent rose by 3%. Pending leases were up by 112%. The new listings climbed by 13% while the active listings jumped by 57%.  Unfortunately this only increased the months of inventory to 1.3 months so if you are looking for a property to rent, you still will have a hard time.

Leases: 220

Average Rent: $2,042

Median Rent: 1,900

Pending Leases: 125

New Listings: 253

Active Listings: 211

Months of Inventory: 1.3

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