Dallas Area Residential Sales Report for October – McKinney, TX

Sales fell sharply but prices continue to rise

Single family home sales fell 24% in October as compared to last October. Pending Sales were off by 13%. Sales Prices continued to rise with the average sales price up21% and the median sales price showing an increase of 20%. New listings were no help to the supply situation down 24%. The active listings dropped 41% taking the months of inventory down to 0.5 months. 6 months is considered a balanced market.

Sales: 234

Average Sales Price: $504,365

Median Sales Price: $450,250

Pending Sales: 246

New Listings: 197

Active Listings: 134

Months of Inventory: 0.5 months

Information provided by The Real Estate Center

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