Addison Real Estate Market Conditions – February 2017

Addison Real Estate Market

The Addison Real Estate Market continues to perform well with increasing home sales and extremely low inventory levels.

Addison Market Times

Market times for Single Family homes in Addison increased more than 53% in February. Homes were on the market for 144 days compared to 94 days last year at the same time. The time a condo/townhome stayed on the market decreased slightly with 62 days this February, compared to last year when it was 64 days.

Addison real estate average market time feb 2017

Addison Months Supply

February had 3.1 months supply of single family homes for sale in Addison, no change compared to last year at this time. The supply of condos and townhomes in February continues to shrink – from 3.7 months last year to 2.4 months supply this year, more than a 35% decrease. These are extremely low inventory levels.

Addison real estate months supply feb 2017

Addison Homes For Sale

At the end of February there were 71 single family homes for sale in Addison. Down 14.5% from last February at this time when there were 83 homes for sale. The number of condos and townhomes for sale decreased more than 34% with 21 for sale at the end of Feb 2017 compared to 32 in Feb 2016.

Addison real estate homes for sale feb 2017

New Listings

New listings in Addison decreased slightly this February with 32 single family homes being listed for sale compared to 35 listed in Feb 2016. New listings for condos and townhomes also decreased with 16 listed for sale this February compared to 19 new listings at the same time last year – more than a 15% decrease.

Addison real estate new listings feb 2017

Addison Real Estate Closings

The number of single family homes that closed in Addison increased in February with 14 closings, compared to 12 closings last February, an increase of more than 16%. There were 7 condo and townhome closings this February compared to only 2 closings in Feb 2016, a 250% increase.

Addison real estate closed sales feb 2017

#AddisonRealEstate

Sari Levy

Sari Levy is Managing Broker of Lucid Realty.

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