Sales in the Wylie area remain strong! It’s a seller’s market.

Single-Family:

Sales were up a strong 20% in September as compared to a year ago. The average sales price rose 4% and the median price was up by 2%. Pending sales jumped 31%. We did see inventory coming on the market. New listings increased by 25% while the active listings rose 46%. Unfortunately for buyers this increase in inventory only brought the months of inventory to 1.9 months. That’s a long way from the 6 months that is considered a balanced supply/demand.

A large amount, about 40%, of the inventory is builder’s new homes. These homes range in list price from $244,946 to $675,000 with the average price of $407,863.

Sales: 133

Average Sales Price: $243,495

Median Sales Price: $214,000

Pending Sales: 131

New Listings: 138

Active Listings: 184

Months of Inventory: 1.9

Leasing:

Leasing activity in Wylie was off by 9% The average rent increased by 17% and the median rent was up by 12%. Pending leases fell 8%. New listings showed a small increase of 5% but the active listings fell by 10%. The months of inventory is now at 1 month. It’s very hard to find a property to lease in the area and this is the reason for the decline in leases and pending leases.

Leases: 30

Average Rent: $1,661

Median Rent: $1,620

Pending Leases: 12

New Listings: 41

Active listings: 28

Months of Inventory: 1

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