Addison Real Estate Market Update
The Addison Real Estate Market continues to see good market conditions despite the extremely low inventory. Single family home inventory decreased more than 71% in January.
Addison Home Sales
Addison single family home sales remained the same in January with 18 closings, the same as last year. Condo and townhome sales decreased 27.3% with 8 closing this year compared to 11 closings last year at the same time.
Addison Market Times
Addison single family home market times decreased during January. Single family homes were on the market for an average of 52 days, compared to 54 days last year at the same time, a 3.7% decrease. Condo/townhome market times increased 4.8%. This year the average market time was 87 days compared to 83 days last year.
Addison New Listings
During January, 29 single family homes were listed for sale in Addison, that’s a decrease of 14.7% compared to the 34 new listings last year. New condos/townhomes had 14 new listings this January compared to the 13 new listings last year.at the same time, an increase of 7.7%.
Addison single family home inventory is still super, super low and this month it decreased again. January ended with 1 month of supply, a 71.4% decrease from last year at the same time when there was a 3.5 month supply. The months supply of condos/townhomes was 2.8 months this January, a 40% increase from last year at the same time when there was a 2 month supply. Anything under a 5 month supply is considered favorable conditions for sellers.
Addison Homes For Sale
At the end of January there were 28 single family homes for sale in Addison, more than a 69.6% decrease from last year when there 92 homes for sale. The number of condos and townhomes for sale increased with 30 for sale this year, a 57.9% increase from last year when there were 19 for sale.