Addison Real Estate Market Update
The Addison Real Estate Market continues to see good market conditions despite the extremely low inventory. Single family home inventory decreased more than 10% in July.
Addison Home Sales
Addison single family home sales increased 14.7% in July with 39 home sales compared to last year at the same time when there were 34. Condo and townhome sales decreased 20% with 12 closing this year compared to 15 closings last year the same time.
Addison Market Times
Addison single family home market times increased during July. Single family homes were on the market for an average of 39 days, compared to 22 days last year at the same time, a 77.3% increase. Condo/townhome market times decreased 69.8%. This year the average market time was 13 days compared to 43 days last year.
Addison New Listings
During July, 44 single family homes were listed for sale in Addison, that’s an increase of 4.8% compared to the 42 new listings last year. New condos/townhomes had 9 new listings this July compared to the 30 new listings last year.at the same time, a decrease of 70%.
Months Supply
Addison single family home inventory is still super, super low and this month it decreased again. July ended with 1.7 months of supply, a 10.5% decrease from last year at the same time when there was a 1.9 month supply. The months supply of condos/townhomes was 1 month for sale this July, a 65.5% decrease from last year at the same time when there was a 2.9 month supply. Anything under a 5 month supply is considered favorable conditions for sellers.
Addison Homes For Sale
At the end of July there were 51 single family homes for sale in Addison, a 12.1% decrease from last year when there 58 homes for sale. The number of condos and townhomes for sale decreased with 10 for sale this year, a 73.7% decrease from last year when there were 38 for sale.
