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 47% in September and market times decreased more than 13%.
Addison Home Sales
Addison single family home sales decreased 47.4% in September with 20 home sales compared to last year at the same time when there were 38. Condo and townhome sales decreased 28.6% with 10 closing this year compared to 14 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 31 days, compared to 36 days last year at the same time, a 13.9% decrease. Condo/townhome market times increased 50%. This year the average market time was 21 days compared to 14 days last year.
Addison New Listings
During September, 22 single family homes were listed for sale in Addison, that’s a decrease of 52.2% compared to the 46 new listings last year. New condos/townhomes had 5 new listings this September compared to the 18 new listings last year.at the same time, a decrease of 72.2%.
Addison single family home inventory is still super, super low and this month it decreased again. September ended with 1.3 months of supply, an 18.8% decrease from last year at the same time when there was a 1.6 month supply. The months supply of condos/townhomes was 0.8 months of supply this September, a 63.6% decrease from last year at the same time when there was a 2.2 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 35 single family homes for sale in Addison, a 31.4% decrease from last year when there 51 homes for sale. The number of condos and townhomes for sale decreased with 8 for sale this year, a 70.4% decrease from last year when there were 27 for sale.