Addison Real Estate Market Conditions – September 2020

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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 27% in September and market times decreased more than 6%.

Addison Home Sales

Addison single family home sales increased 27.6% in September with 37 home sales compared to last year at the same time when there were 29. Condo and townhome sales increased 133.3% with 14 closing this year compared to 6 closings last year the same time.

Addison Real Estate Market Conditions - September 2020 closed sales

Addison Market Times

Addison single family home market times decreased during September. Single family homes were on the market for an average of 60 days, compared to 64 days last year at the same time, a 6.3% decrease. Condo/townhome market times decreased 45.9%. This year the average market time was 59 days compared to 109 days last year.

Addison Real Estate Market Conditions - September 2020 market times

Addison New Listings

During September, 45 single family homes were listed for sale in Addison, that’s a decrease of 34.8% compared to the 69 new listings last year. New condos/townhomes had 28 new listings this September compared to the 14 new listings last year.at the same time, an increase of 100%.

Addison Real Estate Market Conditions - September 2020 new listings

Months Supply

Addison single family home inventory is still super, super low and this month it decreased again. September ended with 2.1 months of supply, a 60.4% decrease from last year at the same time when there was a 5.3 month supply. The months supply of condos/townhomes was 3.6 months of supply this September, the same amount as last year at the same time. Anything under a 5 month supply is considered favorable conditions for sellers.

Addison Real Estate Market Conditions - September 2020 months supply

Addison Homes For Sale

At the end of September there were 59 single family homes for sale in Addison, a 55% decrease from last year when there 131 homes for sale. The number of condos and townhomes for sale increased with 38 for sale this year, an 18.8% increase from last year when there were 32 for sale.

Addison Real Estate Market Conditions - September 2020 homes for sale

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Sari Levy

Sari Levy is Managing Broker of Lucid Realty.

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