Addison Real Estate Market Conditions: September 2016

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Addison Real Estate Market

The Addison Real Estate Market continues to see good market conditions with strong sales and shrinking inventory.

Addison Market Times

Market times for Single Family homes in Addison increased a mere 2.4% in September. Homes were on the market for 86 days in September compared to 84 days last year at the same time. The time a condo/townhome stayed on the market increased significantly in September with 108 days, compared to last year at the end of September when it was at 19 days.

Addison real estate market average market time

Addison Months Supply

September ended with a 4.3 months supply of single family homes for sale in Addison. Compare that to last year at this time when there was a 4.8 months supply of homes and you’ll see a 10.4% decrease in supply. The supply of condos and townhomes decreased also from 3.7 months last year to an incredibly low 1.9 months supply this year.

Addison real estate market months supply

Addison Homes For Sale

Addison home inventory is still decreasing. At the end of September there were 108 single family homes for sale in Addison. This is a decrease of 10% from last September at this time when there were 120 homes for sale. The number of condos and townhomes for sale also decreased this year with 17 for sale at the end of Sept 2016 compared to 32 in Sept 2015, almost a 47% decrease.

Addison real estate market homes for sale

New Listings

New listings in Addison decreased during September with only 32 single family homes being listed for sale. That’s more than a 30% decrease from the 46 listed in Sept 2015. New listings for condos and townhomes increased 25% this year with 10 listed for sale this September, compared to 8 new listings in September 2015.

Addison real estate market new listings

Addison Real Estate Closings

The number of single family homes that closed in Addison decreased this September with 28 closings, compared to 33 closings in September 2015. Condo and townhome closings had a huge increase this Sept with 22 closings in 2016 compared to 4 closings in 2015, more than a 450% increase.

Addison real estate market closed sales

#AddisonRealEstate

Sari Levy

Sari Levy is Managing Broker of Lucid Realty.

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