Buyers were finding homes in the McKinney area in August but will it last with the low inventory?

Dallas Area Residential Sales Report for August – McKinney TX

McKinney home sales rose 24% as compared to last August. Pending sales came in with a 12% gain. The average sales price increased 9% while the median sales price climbed 12%. Looks like buyers were snapping up some of the higher price homes. Unfortunately new listings didn’t keep up with sales and were down 17%. With all the sales combined with the drop in new listings, the active listing fell by 42%. Months of inventory now stands at 1.3 months. Great if you are a seller, but buyers will have a hard time.

Sales: 337

Average Sales Price: $409,524

Medina Sales Price: $377,000

Pending Sales: 305

New Listings: 279

Active Listings: 302

Months of Inventory: 1.3

Information provided by The Real Estate Center

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