Sales off. Blame Inventory shortage!
Dallas Area Residential Sales Report for January – McKinney, TX
Sames of single family homes fell 22% in January compared to last year. Pending sales declined 12%. Buyers are just having a really hard time finding a home to purchase due to the extremely low inventory. The average sales price rose 20% and the median sales price was up by 21%. We are starting to see problems with appraisals as prices rise. New listings declined 33%. Active listings are 82% lower. The months of inventory now stands at 0.3 months.
Average Sales Price: $ 523,801
Median Sales Price: $465,000
Pending Sales: 264
New Listings: 239
Active Listings: 107
Months of Inventory: 0.3
Information provided by The real Estate Center
#mariesellsdallas #RealEstateMcKinney #HomesForSaleMcKinney