Dallas Area Residential Sales Report for June – Allen, TX

Hey there, everyone! It’s Marie Walton from Ebby Halliday, REALTORS, and I’m back with another exciting market update for all you buyers and sellers out there. Today, we’ll be diving into the current state of the real estate market in our lovely city of Allen, Texas. So, let’s get started!

First up, we’re taking a look at the inventory supply. As of June 2023, we have a 1.7 Months Supply of Inventory. What does that mean? Well, it’s an indicator of how long it would take for all the homes currently on the market to be sold if no new listings were added. In simpler terms, it shows us the balance between supply and demand. It’s a sellers market!

Now let’s see how the market has been performing over the past year. We’ve seen a significant decrease in Months Supply of Inventory, with a staggering -22.37% change. This means that the Allen real estate market has become more competitive, with fewer homes available for sale. So, if you’re thinking of selling, now could be a great time to capitalize on this trend.

Speaking of selling, let’s talk about the List to Sold Price percentage. Currently, we’re seeing a List to Sold Price percentage of 100.2%. What does that mean for you as a seller? Well, it means that, on average, homes are selling for slightly above their listing price. This is a positive sign for sellers, as it indicates a strong demand and the possibility of fetching a higher price for your home.

Now, let’s shift our focus to the median days on market. In Allen, Texas, homes are spending an average of 19 days on the market before getting sold. This is great news for sellers, as it shows that homes are moving quickly. Buyers, on the other hand, need to be prompt and decisive when it comes to making offers, as properties are being snatched up faster than ever before.

Last but certainly not least, let’s talk about the median sold price. Currently, the median sold price in Allen, Texas is $625,000. This figure represents the middle point of all homes sold in the area. It’s important to note that this is not the average price, but rather the price at which half the homes sold for more and half for less. So, if you’re a buyer looking for a home in this price range, be prepared for some healthy competition.

And that wraps up our market update for Allen, Texas. I hope you found this information helpful and insightful. If you have any questions or if you’re thinking of buying or selling in our vibrant city, feel free to reach out to me at Ebby Halliday, REALTORS. Remember, knowledge is power in the ever-changing real estate market. Stay informed, stay engaged, and I’ll see you next time.