Addison Real Estate Market Conditions – June 2018

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Addison Real Estate Market Update

The Addison Real Estate Market continues to see good market conditions with extremely low inventory. Single family home market times decreased more than 34% in June. The extremely low inventory is making it really difficult for buyers to find a home, benefiting home sellers.

Addison Home Sales

Single family home sales in June decreased 51.2% in Addison. 20 single family homes closed this year, compared to last June when there were 41 closings. Condo and townhome sales decreased 15.4% in June with 11 closing this year and 13 closings last year the same time.Addison Real Estate Market Conditions - June 2018 closed sales

Addison Market Times

Market times for single family homes decreased during June. Single family homes were on the market for an average of 41 days, compared to 63 days in June 2017, a 34.9% decrease. Condo/townhome market times decreased this June with an average of 39 days on the market compared to 61 last June, a 36.1% decrease.Addison Real Estate Market Conditions - June 2018 market time

Addison New Listings

During June 2018, 64 single family homes were listed for sale in Addison, an increase of 33.3% compared to the 48 new listings last June. New condo/town home listings had a 20% increase with 18 new listings this June compared to the 15 last year at this time.

Addison Real Estate Market Conditions - June 2018 new listings

Addison Months Supply

Addison single family home inventory still remains historically low. June ended with 4.8 months of supply, a 4.3% increase compared to last June when 4.6 months of supply was available. The months supply of condos/townhomes had no change from last June with 2.6 months supply for sale, the same as last year at the same time. Anything under a 5 month supply is considered favorable conditions for sellers.Addison Real Estate Market Conditions - June 2018 months supply

Addison Homes For Sale

At the end of June there were 110 single family homes for sale in Addison, a small 2.8% increase from last June when there were 107 homes for sale. The number of condos and townhomes for sale remained the same from last year with 27 for sale this year and last year.Addison Real Estate Market Conditions - June 2018 homes for sale

#AddisonRealEstateMarket

Sari Levy

Sari Levy is Managing Broker of Lucid Realty.

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