Hi there, everyone! Welcome back to my blog I’m Marie Walton, your trusted REALTOR® from Ebby Halliday, REALTORS. Today, I have some exciting news to share with all the buyers and sellers out there in Allen, Texas. So, let’s dive right into our market update for August 2023!

First off, let’s talk about the inventory in our lovely city. Currently, we have a 2.36 Months Supply of Inventory. This means that if no new homes were listed for sale, it would take just over two months for all the existing homes to be sold. And guess what? Over the last 12 months, our Months Supply of Inventory has increased by 3.51%. So, it’s safe to say that Allen’s real estate market is quite active and bustling!

Now, let’s move on to the List to Sold Price percentage. This is an important indicator of how close sellers are getting to their asking price. In Allen, we’re seeing a fantastic List to Sold Price percentage of 99.1%. That’s right, sellers are getting nearly their full asking price, which is great news for anyone looking to sell their home in this market.

Next up, let’s talk about the median days on market. In Allen, homes are spending an average of 29 days on the market before they get sold. That’s less than a month! So, if you’re a buyer, you’ll need to act fast when you find a home you love. And for sellers, this means that with the right marketing and pricing strategy, you can expect a relatively quick sale.

Last but certainly not least, let’s talk about the median sold price in Allen. Currently, the median sold price stands at an impressive $645,000. That’s the midpoint price, meaning half of the homes sold for more and half for less. So, if you’re thinking of buying or selling a home in Allen, this gives you an idea of the market’s value range.

Well, that wraps up our market update for August 2023, Allen, Texas edition. I hope you found this information helpful and informative. If you have any questions or if you’re ready to explore the real estate opportunities in our vibrant city, feel free to reach out to me at Ebby Halliday, REALTORS. Thank you for watching, and until next time, take care!