Dallas Area Residential Sales Report for August – McKinney, TX

Prices continue to rise on a year over year comparison.

Sales declined 22% compared to last sugust. Pending sales fell 16.2%. The average sales price was up 20.4% while the mwsian sales price rose 22.9%. The ratio of original list price to sales price was 98.1%. New listings fell 28.3% taking the number of active listings down by 49.4%  Months of inventory now stands at 1.9 months. We belive that the number of new listings has topped out and will comtinue to decline for the rest of the year. The inventory shortage will support prices and we do not expect to see large price declines that may occure in other parts of the country.

McKinney Oktoberfest startes September 23rd.

Sales: 217

Pending Sales:160

Average Sales Price: $579,724

Median Sales Price: $534,599

Ratio of Sales Price to Original List: 98.1%

New Listings: 220

Active Listings: 402

Months of Inventory: 1.9 months