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.
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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