Addison Real Estate Market Conditions – November 2018

Share, follow or like us:
Facebook
Google+
https://blog.lucidrealty.com/2018/12/05/addison-real-estate-market-conditions-november-2018/
Twitter
Pinterest

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 70% in November. 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 70% in November. 34 single family homes closed this year compared to last year at the same time when there were 20 closings. Condo and townhome sales decreased 50% in November with 12 closing this year compared to 6 closings last year the same time.Addison Real Estate Market Conditions - November 2018 closed sales

Addison Market Times

Market times for single family homes had a considerable decrease during November. Single family homes were on the market for an average of 59 days, compared to 95 days in November 2017, a 37.9% decrease. Condo/townhome market times had a small decrease of 7.5% this November with the average market time of 49 days compared to 53 days last year at the same time.

Addison Real Estate Market Conditions - November 2018 market times

Addison New Listings

During November 2018, 24 single family homes were listed for sale in Addison, a slight increase of 4.3% compared to the 23 new listings last November. New condo/town home listings had 14 new listings this November compared to last year at the same time when there were 9 new listings, a 55.6 increase.

Addison Real Estate Market Conditions - November 2018 new listings

Months Supply

Addison single family home inventory is still super low. November ended with 3.9 months of supply, a 2.6% increase compared to last November when 3.8 months of supply was available. The months supply of condos/townhomes had a 23.3% decrease from last November with only 2.3 months supply for sale this year compared to 3 months last year. Anything under a 5 month supply is considered favorable conditions for sellers.

Addison Real Estate Market Conditions - November 2018 months supply

Addison Homes For Sale

At the end of November there were 95 single family homes for sale in Addison, a 6.7% increase from last November when there were 89 homes for sale. The number of condos and townhomes for sale decreased with 23 for sale this year, a 20.7% decrease from last year when there were 29 for sale.

Addison Real Estate Market Conditions - November 2018 homes for sale

#AddisonRealEstateMarket

 

Sari Levy

Sari Levy is Managing Broker of Lucid Realty.

Leave a Reply

Your email address will not be published. Required fields are marked *