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 19% in April, condo and townhome sales decreased 16.7% compared to last year.
Addison Home Sales
Single family home sales in Addison increased 19% in April. 25 single family homes closed this year compared to last year at the same time when there were 21 closings. Condo and townhome sales decreased 16.7% with 10 closings this year compared to 12 closings last year the same time.
Addison Market Times
Addison market times decreased during April. Single family homes were on the market for an average of 55 days, compared to 95 days last year at the same time, a 42.1% decrease. Condo/townhome market times decreased 19.7%. This year the average market time was 53 days compared to 66 days last year at the same time.
Addison New Listings
During April 2021, 47 single family homes were listed for sale, a 27% increase compared to last year at the same time when there were 37 new listings. New condos/townhomes had 21 new listings, that’s a 110% increase compared to the 10 new listings last year at the same time.
Addison single family home inventory is still super, super low. April ended with 0.9 months of supply, more than a 74% decrease from last year at the same time when there was a 3.5 month supply. The months supply of condos/townhomes had a 56% decrease from last April with 1.1 months supply for sale this year compared to 2.5 months last year. Anything under a 5 month supply is considered favorable conditions for sellers.
Addison Homes For Sale
At the end of April there were 29 single family homes for sale in Addison, a 66.7% decrease from last year when there were 87 homes for sale. The number of condos and townhomes for sale decreased with 14 for sale this year, a 41.7% decrease from last year when there were 24 for sale.