Addison Real Estate Market Conditions: December 2016

Addison Real Estate Market

The Addison Real Estate Market continues to perform well despite rising market times with extremely low inventory and strong sales.

Addison Market Times

Market times for Single Family homes in Addison increased more than 28% in December. Homes were on the market for 86 days compared to 67 days last year at the same time. The time a condo/townhome stayed on the market also increased with 87 days this December, compared to last year when it was 61 days.

Addison real estate market average market time

Addison Months Supply

Single family home inventories had a small increase in December with 3.5 months supply of single family homes for sale in Addison. An increase of almost 10% compared to last year at this time when there were 3.2 months supply of homes for sale. However, the supply of condos and townhomes in December continues to shrink – from 3.4 months last year to 2.3 months supply this year.

 

Addison real estate market months supply

Addison Homes For Sale

At the end of December there were 81 single family homes for sale in Addison. Down slightly from last December at this time when there were 84 homes for sale. The number of condos and townhomes for sale also decreased with 20 for sale at the end of Dec 2016 compared to 29 in Dec 2015, a 31% decrease.

Addison real estate market homes for sale

New Listings

New listings in Addison increased 5.6% this December with 19 single family homes being listed for sale compared to 18 listed in Dec 2015. New listings for condos and townhomes also increased with 8 listed for sale this December, compared to 6 new listings in December 2015, more than a 33% increase.

Addison real estate market new listings

Addison Real Estate Closings

The number of single family homes that closed in Addison decreased more than 22% this December with 21 closings, compared to 27 closings in December 2015. Condo and townhome had 8 closings this December compared to 10 closings in Dec 2015, a 20% decrease.

Addison real estate market closed sales

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Sari Levy

Sari Levy is Managing Broker of Lucid Realty.

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