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 13% in November.
Addison Home Sales
Addison single family home sales increased 13% in November with 26 home sales compared to last year at the same time when there were 23. Condo and townhome sales decreased 25% with 9 closing this year compared to 12 closings last year the same time.
Addison Market Times
Addison single family home market times increased during November. Single family homes were on the market for an average of 46 days, compared to 41 days last year at the same time, a 12.2% increase. Condo/townhome market times increased 136.4%. This year the average market time was 78 days compared to 33 days last year.
Addison New Listings
During November, 38 single family homes were listed for sale in Addison, that’s an increase of 18.8% compared to the 32 new listings last year. New condos/townhomes had 12 new listings this November compared to the 11 new listings last year at the same time, an increase of 9.1%.
Months Supply
Addison single family home inventory is still super, super low and this month it decreased again. November ended with 1.1 months of supply, a 50% decrease from last year at the same time when there was a 2.2 month supply. The months supply of condos/townhomes was 1.4 months of supply this November, a 39.1% decrease from last year at the same time when there was a 2.3 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 37 single family homes for sale in Addison, more than a 39% decrease from last year when there 61 homes for sale. The number of condos and townhomes for sale decreased with 18 for sale this year, a 30.8% decrease from last year when there were 26 for sale.
