Addison Real Estate Market Conditions – June 2020

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 43.8% in June and home sales decreased only 3.2%.

Addison Home Sales

Addison single family home sales decreased 3.2% in June with 30 home sales compared to last year at the same time when there were 31. Condo and townhome sales decreased more than 35% with 9 closing this year compared to 14 closings last year the same time.

Addison real estate closed sales Jun 2020

Addison Market Times

Addison market times increased during June. Single family homes were on the market for an average of 93 days, compared to 50 days last year at the same time, a 86% increase. Condo/townhome market times increased 51.9%. This year the average market time was 41 days compared to 27 days last year.

Addison real estate market times Jun 2020

Addison New Listings

During June, 44 single family homes were listed for sale in Addison, that’s a decrease of 45.7% compared to the 81 new listings last year. New condos/townhomes had 10 new listings this June compared to the 12 new listings last year.at the same time, a decrease of 16.7%.

Addison real estate new listings Jun 2020

Months Supply

Addison single family home inventory is still super, super low and this month it decreased again. June ended with 2.7 months of supply, a 43.8% decrease from last year at the same time when there was a 4.8 month supply. The months supply of condos/townhomes was 2.7 months for sale this June, flat to last year when the supply was the same. Anything under a 5 month supply is considered favorable conditions for sellers.

Addison real estate months supply Jun 2020

Addison Homes For Sale

At the end of June there were 68 single family homes for sale in Addison, a 44.3% decrease from last year when there 122 homes for sale. The number of condos and townhomes for sale decreased with 24 for sale this year, a 7.7% decrease from last year when there were 26 for sale.

Addison real estate homes for sale Jun 2020

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The post Addison Real Estate Market Conditions – June 2020 appeared first on Getting Real.

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