Single-Family:

Sales were down by 6% in McKinney during August. However,  the pending sales number jumped by 43%. As in other areas, it looks like some sales were delayed and pushed into September. The average sales price dropped by 3% and the median sales price rose by 4%. not sure what caused these gyrations but I do not expect to see another decline in the average sales price next month.

The new listings fell by 3% and the active listings dropped by 1%. The months of inventory stayed the same at 1.8 months.

About 20% of the active listings in MLS are builders new construction. The average listing price for theses homes in $471,963.

Sales: 299

Average Sales Price: $285,749

Median Sales Price: $262,500

Pending Sales: 261

New Listings: 313

Active Listings: 406

Months of Inventory: 1.8

Leases:

Leasing activity increases by 14% in August. The average rent rose 3% and the median rent was up by 4%. Pending leases jumped 34%. The number of new listings fell by 6% and the active listings declined by 12%. The months of inventory now stands at 1 month. Pretty hard to find a house to rent.

Leases: 108

Average Rent: $1,755

Median Rent: $1,700

Pending Leases: 71

New Listings: 118

Active Listings: 92

Months of Inventory: 1

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