Addison Real Estate Market Update
The Addison Real Estate Market continues to see good market conditions despite the extremely low inventory. Single family home sales increased more than 18% in December. Condo and townhome sales increased 275%.
Addison Home Sales
Addison single family home sales increased 18.5% in December with 32 home sales compared to last year at the same time when there were 27. Condo and townhome sales increased 275% with 15 closing this year compared to 4 closings last year the same time.
Addison Market Times
Addison single family home market times increased during December. Single family homes were on the market for an average of 99 days, compared to 85 days last year at the same time, a 16.5% increase. Condo/townhome market times increased 97.3%. This year the average market time was 73 days compared to 37 days last year.
Addison New Listings
During December, 19 single family homes were listed for sale in Addison, that’s a decrease of 26.9% compared to the 26 new listings last year. New condos/townhomes had 12 new listings this December compared to the 8 new listings last year.at the same time, an increase of 50%.
Addison single family home inventory is still super, super low and this month it decreased again. December ended with 1.5 months of supply, a 53.1% decrease from last year at the same time when there was a 3.2 month supply. The months supply of condos/townhomes was 2.4 months of supply this December, a 14.3% decrease from last year at the same time when there was a 2.8 month supply. Anything under a 5 month supply is considered favorable conditions for sellers.
Addison Homes For Sale
At the end of December there were 42 single family homes for sale in Addison, more than a 49.4% decrease from last year when there 83 homes for sale. The number of condos and townhomes for sale increased with 27 for sale this year, a 3.8% increase from last year when there were 26 for sale.