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 decreased more than 5% in September and market times decreased more than 36%.
Addison Home Sales
Addison single family home sales decreased 5.4% in September with 35 home sales compared to last year at the same time when there were 37. Condo and townhome sales decreased 6.7% with 14 closing this year compared to 15 closings last year the same time.
Addison Market Times
Addison single family home market times decreased during September. Single family homes were on the market for an average of 38 days, compared to 60 days last year at the same time, a 36.7% decrease. Condo/townhome market times decreased 75.9%. This year the average market time was 14 days compared to 58 days last year.
Addison New Listings
During September, 46 single family homes were listed for sale in Addison, that’s an increase of 2.2% compared to the 45 new listings last year. New condos/townhomes had 17 new listings this September compared to the 28 new listings last year.at the same time, a decrease of 39.3%.
Addison single family home inventory is still super, super low and this month it decreased again. September ended with 1.3 months of supply, a 48% decrease from last year at the same time when there was a 2.5 month supply. The months supply of condos/townhomes was 1.8 months of supply this September, a 52.6% decrease from last year at the same time when there was a 3.8 month supply. Anything under a 5 month supply is considered favorable conditions for sellers.
Addison Homes For Sale
At the end of September there were 43 single family homes for sale in Addison, a 36.8% decrease from last year when there 68 homes for sale. The number of condos and townhomes for sale decreased with 23 for sale this year, a 42.5% decrease from last year when there were 40 for sale.