Addison Real Estate Market Update
The Addison Real Estate Market continues to see good market conditions despite the extremely low inventory. Single family home market times decreased more than 43% in December.
Addison Home Sales
Addison single family home sales decreased 6.3% in December with 30 home sales compared to last year at the same time when there were 32. Condo and townhome sales were the exact same as last year at the same time with 15 closings.
Addison Market Times
Addison single family home market times decreased during December. Single family homes were on the market for an average of 56 days, compared to 99 days last year at the same time, a 43.4% decrease. Condo/townhome market times decreased 4.1%. This year the average market time was 70 days compared to 73 days last year.
Addison New Listings
During December, 16 single family homes were listed for sale in Addison, that’s a decrease of 15.8% compared to the 19 new listings last year. New condos/townhomes had 4 new listings this December compared to the 12 new listings last year.at the same time, a decrease of 66.7%.
Addison single family home inventory is still super, super low and this month it decreased again. December ended with 1 month of supply, a 44.4% decrease from last year at the same time when there was 1.8 months supply. The months supply of condos/townhomes was 0.8 months of supply this December, a 66.7% decrease from last year at the same time when there was a 2.4 month supply. Anything under a 5 month supply is considered favorable conditions for sellers.
Addison Homes For Sale
At the end of December there were 30 single family homes for sale in Addison, more than a 37% decrease from last year when there 48 homes for sale. The number of condos and townhomes for sale decreased with 10 for sale this year, a 63% decrease from last year when there were 27 for sale.