Small increase in sales. Pending sales took a jump!

Single-Family:

Single-Family sales increased by 4% in February. The average sales price rose 4% while the median sales price climber 9%. As in other areas McKinney’s sales are skewed to the upper price ranges. Pending sales jumped 31%. The number of new listings had a nice increase of 30% and this caused the active listings to rise 27%. This is good news for buyers because they have more properties to chose from. Unfortunately, these increases only increased the months of inventory to 1.3 month so it’s still very much a seller’s market.

Sales: 157

Average Sales Price: $296,613

Median Sales Price: $279,900

Pending Sales: 180

New Listings: 236

Active Listings: 300

Months of Inventory: 1.3

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