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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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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