Dallas Area Residential Sales Report for March – McKinney, TX

Home prices took a large jump!

Single Family home sales fell 8% in March as compared to last March. Pending sales however were up 10%. The average sales price increased by 26%. The median sales price rose 24%. As in other markets we saw a decrease in the number of new listings. In McKinney’s case they dropped 3%. Buyers are finding a very short supply with the number of active listings down by 79% from last years number. The months of inventory now stands at 0.4 months. That’s a 12 Day supply at current sales levels.

Sales: 204

Average Sales Price: $480,310

Median Sales Price: $418,000

Pending Sales: 288

New Listings: 280

Active Listings: 105

Months of Inventory: 0.4 months

Information provided by The Real Estate Center