Dallas Area Residential Sales Report for February – Allen, TX

Supply very low!

Existing Homes sales rose 24% in February. Pending sales declined 5%. The average sales price jumped a whopping 43% and the median sales price increased 47% as buyers bid up prices due to extremely low inventory. New listings declined 30%. Active listings dropped 85%. The months of inventory now stands at 0.1 month. I have never seen a number this low.

Sales: 80

Average Sales Price: $596,507

Median Sales Price: $550.000

Pending Sales: 80

New Listings: 84

Active Listings: 15

Months of Inventory: 0.1 months

Information provided by The Texas Real Estate Center