Dallas Area Residential Sales Report for February – Allen TX

Allen was a very popular area with buyers in February. Home sales rose 21% and pending sales climbed 16%. Assuming the normal closure rate, March should come in with positive sales. The average sales price increased 4%. Median sales price jumped 12%. When you see the median sales price rising faster than the average it means that a higher percentage of the sales were occurring in the upper price ranges.  Now the bad news for buyers. The number of new listings contracted by 1% and the active listings fell by 22%. This took the months of inventory down to 1.8 months making it harder for buyers to find that dream home.

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Sales: 111

Average Sales Price: $389,501

Median Sales Price: $354,990

Pending Sales: 126

New Listings: 138

Active Listings: 215

Months of Inventory: 1.8

Information provided by The Real Estate Center

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