Allen Texas, located just north of Dallas, is a great little city and a wonderful place to live. The city continues to grow with plenty of developement–both residential and commercial.
The Allen housing market has been relatively stable. This month we’ll take a look at Median Sales Price, Days on Market, and Months Supply of Housing.
Median Sales Price
The Median Sales Price, which had been on the rise for almost a year, retreated some over the past few months. I expect that will recover some now that several new home developments have been completed and are beginning to sell.
Days on Market
Days on Market has been on the rise for the past year yet remains below 90 days and below 2009 and 2010 levels.
Months Supply of Housing
The Months Supply of Housing is very good at 4.5 months of inventory currently on the market. The National Association of REALTORS® suggests that a 6-month supply of housing is a balanced market. Supplies over 6 months indicate a buyer’s market and supplies less than 6 months indicate a seller market. Our experience is that homes that show well and are priced right continue to sell.
Please contact us at 214-227-6626 if you have any questions or want more information.
Source: NTREIS on November 16, 2011 | Photo: Copyright 2011 Tom Branch
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