Dallas Area Residential Sales Report for June – Allen TX

Not a good month for homes sales in the Allen area. Sales dropped 12%. Pending sales looked better only down 3%. It’s beginning to look like the market is over it’s strong tilt to the seller side and moving back to a more normal market. Buyers do not fell compelled to buy today! Showings are declining and inventory is rising.

The average sales price did increase 7% and the median sales price rose 1%. New listings grew 3% while the active listings climbed 17%. This took the months of inventory to 3.1 months. While this number is still well within the sellers side (6 months being a balanced market) declining sales combined with increasing inventory, will get us to a balanced market quickly.

Sellers if you want to sell your home, it is incumbent upon you to recognize this changing market and pricing is critical.

Sales: 129

Average Sales Price: $412,333

Median Sales Price: $351,000

Pending Sales: 135

New Listings: 220

Active Listings: 345

Months of Inventory: 3.1

Information Provided by The Real Estate Center

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