Addison Real Estate Market Update
The Addison Real Estate Market continues to see good market conditions despite the extremely low inventory. Single family home market times decreased more than 66% in November.
Addison Home Sales
Addison single family home sales increased 4.8% in November with 22 home sales compared to last year at the same time when there were 21. Condo and townhome sales increased 9.1% with 12 closing this year compared to 11 closings last year the same time.
Addison Market Times
Addison single family home market times decreased during November. Single family homes were on the market for an average of 42 days, compared to 125 days last year at the same time, a 66.4% decrease. Condo/townhome market times decreased 13.2%. This year the average market time was 33 days compared to 38 days last year.
Addison New Listings
During November, 31 single family homes were listed for sale in Addison, that’s an increase of 29.2% compared to the 24 new listings last year. New condos/townhomes had 11 new listings this November compared to the 8 new listings last year.at the same time, an increase of 37.5%.
Months Supply
Addison single family home inventory is still super, super low and this month it decreased again. November ended with 2 months of supply, a 48.7% decrease from last year at the same time when there was a 3.9 month supply. The months supply of condos/townhomes was 2.1 months of supply this November, a 36.4% decrease from last year at the same time when there was a 3.3 month supply. Anything under a 5 month supply is considered favorable conditions for sellers.
Addison Homes For Sale
At the end of November there were 55 single family homes for sale in Addison, more than a 44% decrease from last year when there 99 homes for sale. The number of condos and townhomes for sale decreased with 24 for sale this year, an 17.2% decrease from last year when there were 29 for sale.
