Allen home sales increased 13.9 percent in August, in contrast to weaker regional sales figures in July, according to the July 2016 North Texas housing market report released today by the MetroTex Association of REALTORS.
“August was an exceptionally busy month,” said Russell Berry, president of MetroTex. “We’re seeing strong increases in terms of number of sales and in dollar volume. Prices are up and maintaining enough available housing stock remains our biggest challenge.”
According to the report, 189 homes were sold in Allen in August, a 13.9 percent increase from the year prior. The median price for Allen area homes increased 2.2 percent year-over-year to $337,419 during the same time frame.
Allen’s monthly housing inventory was 2.3 months in August. The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.
Homes spent an average of 30 days on the market in August. There were 322 active listings for the Allen housing market during the same time frame.
- 189 – Homes sold, 13.9 percent higher than August.
- $299,000 – Median sales price for homes, 6.1 percent more than August 2015.
- $337,419 – Average sales price for homes, a 2.2 percent increase over August 2015.
- 2.3 – Monthly housing inventory in August 2016.
- 30 – Average number of days homes spent on the market in August 2016.
- 322 – Active home listings on the market in August 2016.
- $127 – Average price per square foot.