Addison Real Estate Market Conditions – September 2018

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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 increased more than 20% in September. The extremely low inventory is still making it really difficult for buyers to find a home, benefiting home sellers.

Addison Home Sales

Single family home sales in Addison increased 20.8% in September. 29 single family homes closed this year compared to last year at the same time when there were 24 closings. Condo and townhome sales decreased more than 18% in September with 9 closing this year compared to 11 closings last year the same time.Addison Real Estate Market Conditions - September 2018 closed sales

Addison Market Times

Market times for single family homes had a considerable decrease during September. Single family homes were on the market for an average of 43 days, compared to 67 days in September 2017, a 35.8% decrease. Condo/townhome market times also decreased considerably, a 41.3% decrease this September with the average market time of 37 days compared to 63 days last year at the same time.Addison Real Estate Market Conditions - September 2018 market time

Addison New Listings

During September 2018, 42 single family homes were listed for sale in Addison, an increase of 7.7% compared to the 39 new listings last September. New condo/town home listings had a 12.5% decrease with 21 new listings this September compared to the 24 last year at this time.Addison Real Estate Market Conditions - September 2018 new listings

Addison Months Supply

Addison single family home inventory is still super low. September ended with 4.1 months of supply, a 19.6% decrease compared to last September when 5.1 months of supply was available. The months supply of condos/townhomes had a 11.8% decrease from last September with 3 months supply for sale this year compared to 3.4 months last year. Anything under a 5 month supply is considered favorable conditions for sellers.Addison Real Estate Market Conditions - September 2018 months supply

Addison Homes For Sale

At the end of September there were 103 single family homes for sale in Addison, a 10.4% decrease from last September when there were 115 homes for sale. The number of condos and townhomes for sale also decreased with 30 for sale this year, a 6.3% decrease from last year when there were 32 for sale.Addison Real Estate Market Conditions - September 2018 homes for sale

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Sari Levy

Sari Levy is Managing Broker of Lucid Realty.

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