Single-Family:

Sales were of by 13% in McKinney as compared to a year ago. Several of the other northern suburbs had either small increases or declining sales in July. Due to the large amount of new construction in these areas, I believe that these declines are due to builders just not being able to meet the demand in a timely manor. The average sales price rose by 7% while the median sales price increased by 6%.

Pending sales climbed by 7%. The number of new listings increased by 7% but the active listings were flat. The months of inventory remained at 1.7 months. Not much of a supply.

Sales: 286

Average Sales: Price: $299,311

Median Sales Price: $ 270,750

Pending Sales: 288

New Listings: 383

Active Listings: 389

Months of Inventory: 1.7

Leases:

Leases were down by 3%. The average rent was flay and the median rent fell by 2%. Really nothing much changing. Pending leases jumped 183%. The new listings declined by 5% and the active listings dropped by 8%. The months of inventory remains very tight at 1.1 months.

Leases: 112

Average Rent: $1,722

Median Rent: $1,650

Pending Leases: 79

New Listings: 146

Active Listings: 97

Months of Inventory: 1.1

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