Dallas Area Residential Sales Report for June – McKinney, TX

Sales down. Prices up. very low inventory.

Sales were off 13.3% in June compared to last June. Pending sales fell 16.7%. The average sales price rose20.8% while the median sales price was up by 20.3%. The ratio of sales price to original list price came in at 106.8%. New listings increased 4%. Active listings showed a 29.4% increase. While that might seem a large increase, it’s really not. It’s just that we are coming off a very low base. The months of inventory (a measure of supply/demand, is still very much slanted to the seller side with an increase to 1.6 months. 6 months is considered a balance market.

Sales: 221

Pending Sales: 175

Average Sales Price: $616,270

Median Sales Price: $547,500

Ratio of Sales Price to Original List: 106.8

New Listings: 339

Active Listings: 321

Months of Inventory: 1.6 months

Information provided by The Real Estate Center