Hey there, folks! It’s Marie Walton from Ebby Halliday, REALTORS, here with your latest market update for Allen, Texas. Today, we’ll be diving into some exciting numbers and trends that both buyers and sellers need to know. So, let’s get started!

First up, let’s talk about the supply of inventory. As of September 2023, we currently have a 2.35 months supply of inventory in Allen. Now, what does that mean? Well, simply put, it means that if no new homes were listed, it would take about 2.35 months to sell all the existing homes on the market. This number gives us a sense of the market’s competitiveness and can impact both buyers and sellers.

Over the past year, we’ve seen a slight decrease of 0.42% in the Months Supply of Inventory. This means that the market has become slightly more competitive, which could potentially benefit sellers. However, it’s important to note that this is just one piece of the puzzle, and other factors come into play when determining the best time to buy or sell your home.

Now, let’s talk about the List to Sold Price percentage. In Allen, Texas, we’re currently seeing a strong average of 98.4%. This indicates that, on average, homes are selling very close to their listed price. It’s a great sign for sellers, as it shows that buyers are willing to pay a fair price in this market.

Next up, let’s talk about the median days on market. In Allen, homes are spending an average of 28 days on the market before being sold. This is a relatively low number, indicating a fast-paced market where homes are in high demand. If you’re a seller, this means your home may not stay on the market for long, but as a buyer, it’s important to act swiftly and be prepared to make competitive offers.

Lastly, let’s take a look at the median sold price in Allen. Currently, it stands at $637,500. This figure represents the middle point of all the home prices sold in the area. It’s important to note that this is just a median, and actual home prices can vary depending on various factors such as location, size, and condition.

So, there you have it, folks – a quick but informative market update for Allen, Texas. Whether you’re buying or selling, it’s crucial to stay informed about the latest trends shaping our local real estate market. If you have any questions or need assistance navigating the market, feel free to reach out to me at Ebby Halliday, REALTORS. I’m here to help you make the most informed decisions possible.

Thanks for dropping in, and until next time, happy house hunting, Allen!