McKinney Residential Sales Report for March

Sales increased. New listings up!

Single-Family:

Sales of single-family homes were up 6% as compared to a year ago. The average sales price rose 2% and the median sales price also was up by 2%. The pending sales jumped 22% so it looks like April will be a good months for sales. The number of new listings increased by 10% while the active listings climber by 44%. While it’s good to see these increases, the months of inventory only moved up to 1.5 months. Still very short of the 6 months that’s considered a balanced supply. It’s still very much a Seller’s Market.

Sales: 213

Average Sales Price: $316,038

Median Sales Price: $284,500

Pending Sales: 284

New Listings: 303

Active Listings: 332

Months of Inventory: 1.5

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

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