Addison Real Estate Market Update
The Addison Real Estate Market continues to see good market conditions despite the extremely low inventory. Condo and townhome sales increased more than 85% in August and the monthly inventory supply decreased more than 44%.
Addison Home Sales
Addison single family home sales decreased 12.9% in August with 27 home sales compared to last year at the same time when there were 31. Condo and townhome sales increased 85.7% with 13 closing this year compared to 7 closings last year the same time.
Addison Market Times
Addison single family home market times decreased during August. Single family homes were on the market for an average of 17 days, compared to 40 days last year at the same time, a 57.5% decrease. Condo/townhome market times decreased 7.4%. This year the average market time was 25 days compared to 27 days last year.
Addison New Listings
During August, 62 single family homes were listed for sale in Addison, that’s an increase of 34.8% compared to the 46 new listings last year. New condos/townhomes had 19 new listings this August compared to the 32 new listings last year.at the same time, a decrease of 40.6%.
Addison single family home inventory is still super, super low and this month it decreased again. August ended with 1.8 months of supply, a 33.3% decrease from last year at the same time when there was a 2.7 month supply. The months supply of condos/townhomes was 2.5 months for sale this August, a 44.4% decrease from last year at the same time when there was a 4.5 month supply. Anything under a 5 month supply is considered favorable conditions for sellers.
Addison Homes For Sale
At the end of August there were 55 single family homes for sale in Addison, a 24.7% decrease from last year when there 73 homes for sale. The number of condos and townhomes for sale decreased with 34 for sale this year, a 20.9% decrease from last year when there were 43 for sale.