Hello everyone, I’m Marie Walton, a REALTOR® with Ebby Halliday REALTORS, here to bring you the latest market update for Allen, Texas in August 2024.
Let’s dive into the numbers. Currently, we have a 3.87 Months Supply of Inventory in Allen. This means that if no new homes were listed, it would take just under 4 months to sell all the existing homes on the market. Over the last 12 months, we’ve seen a 44.4% increase in Months Supply of Inventory, indicating a shift in the market. 6 months is considered a balanced market so we are still tilted to the seller side.
Our List to Sold Price percentage is holding strong at 96.4%, showing that sellers are still able to get close to their asking price. The median days on market is 38, which means that homes in Allen are selling relatively quickly. And the median Sold Price is $625,000, giving us a snapshot of the current market value in the area.
So, what does this all mean for buyers and sellers in Allen? Well, with inventory levels on the rise, buyers may have more options to choose from. However, with homes still selling quickly and at a high percentage of their list price, sellers can still expect a strong market.
Whether you’re looking to buy or sell in Allen, now is a great time to make a move. If you have any questions or are ready to get started, feel free to reach out to me at the phone number or email below. Thank you for and stay tuned for more market updates.
Until next time, happy house hunting!
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Marie Sells Dallas 