Real Estate Market Report for Addison, Texas: March 2020

By
Real Estate Agent with United Real Estate TX #0552717

Real Estate Market Report for Addison, Texas: March 2020

Residential Real Estate For Sale in Addison Texas

The total number of currently available residential properties for sale in Addison, Texas is 24, and last month there were 26.  Of the 24, 20 are pre-owned and 4 are new construction. Currently for sale, there are:

  • 6 single family homes (ranging in price from $315,000 - $1,899,000)Addison Grove
  • 1 half-duplex ($259,900)
  • 9 condos ($159,900 – $549,900)
  • 8 townhomes ($338,995 - $499,900)

Eleven of the 24 available homes have been on the market for longer than 30 days.  Homes are taking longer to sell as the market continues to correct.

The average number of days on the market for the “active” status, pre-owned homes is 35 days (as compared to 49 last month). The median number of days on the market is 19 days, compared to last month’s 39 days.  

 

New listings in March

Twenty one homes came on the market in Addison, TX in March, compared to 12 the previous month.   

Subdivision

Street

BR/Bath/Gar

Sq Ft

List Price

3/1/2020
Status

CONDOS

 

 

 

 

 

Aventura

Addison Circle

1/1/1

1347

$249,000

Active

Brooktown Townhomes

Vitruvian Way

2/2.1/0

1373

$192,900

Active

La Mirada Condos

Proton

2/2.1/1

1396

$258,888

Pending

La Mirada Condos

Proton

2/2.1/1

1430

$275,000

Active

La Mirada Condos

Proton

2/2.1/1

1396

$250,000

Active

Pecan Square

Beltway

1/1/1

725

$159,900

Active

Valley of Bent Tree

Ledgemont Ln.

2/2/0

1076

$180,000

Active

HALF DUPLEXES

 

 

 

 

 

Midway Meadows

Morman Ln.

3/2/2

1628

$259,900

Active

TOWNHOUSES

 

 

 

 

 

Meridian Square

Spectrum Dr.

3/3.1/2

2126

$475,000

Active

Stanford Court Villas

Stanford Ct.

3/3/2

2360

$499,900

Active

Stanford Court Villas

Stanford Ct.

3/3/2

2360

$469,900

Temp off Market

Town Homes of Addison

Curtis Ct.

3/2.1/2

1770

$338,995

Active

Towne Lake

Towne Lake Cir.

3/3/2

2034

$399,900

Active

SINGLE FAMILY HOMES

 

 

 

 

 

Addison Place

Knots Landing

3/2/2

1627

$299,000

Option

Allen Bledsoe

Winnwood

5/4.1/3

6793

$1,650,000

Active

Grand Addison

Windsor Ct.

3/2.1/2

2062

$419,000

Temp off Market

Midway Meadows

Le Grande Dr.

3/2.1/2

1608

$315,000

Active

Oaks North

Buckingham Ct.

3/3/3

3242

$650,000

Option

Waterford

Azure

3/2/2

2311

$415,000

Temp off Market

Waterford

Azure

3/2/2

2037

$409,000

Pending

Woods Rev.

Winnwood

5/4.1/3

6862

$1,899,000

Active

 

Search for Addison real estate:
If you are looking for an Addison home, use the following link to see what’s available now. Once you've done your online search, give me a call to discuss the purchasing process and buyer representation.  You're on your way to owning an Addison home.

Search Addison Homes for Sale (after clicking, scroll down for results)

 

Properties Scheduled to Close

There are 14 sales in the pending status (waiting to close), as compared to 14 last month. Five of the 14 properties are incomplete new construction.

 

 Sales

Sixteen Addison homes sold/closed in March; 15 closed the prior month. Homes that sold include 7 single family homes, 2 townhouses, 1 half duplex, and 6 condos. The median number of days on the market was 27 days, and last month the median was 29.  The average number of days on the market was 45 days. The range in March for the previously owned homes was 1 day to 196 days. The average price per square foot of all previously owned homes that sold is $184.59, up from the $170.15 average the prior month. The average list price to sold price ratio is 98.17%, a slight decrease from last month’s 98.31%. There are still price reductions and offers accepted below full price, with few, if any, multiple offer situations.

Considering selling your Addison house? Contact me to discuss the selling and marketing process. 

 

The numbers going forward over the next few months will be influenced by the Coronavirus. That is more than likely the reason for the number of newly listed homes that are in the “Temporarily Off the Market” status. Although the Governor has recently proclaimed that real estate in Texas is an essential business, many agents, buyers, and sellers are following the safe-at-home policy.

Although it’s always a GREAT time to buy or sell a home in Addison, please take precautions!

 

Posted by

Lorrie Semler, e-PRO, GRI, SRES, CPRES, CRS
Addison Resident/Addison Specialist                                                      Subscribe Button
Real Service. Real Results. Real Estate.
United Real Estate
972-416-3417

http://www.AddisonUpdate.com                                                                                                                         

2011 Recipient of Addison Magazine's Readers Choice
Award for Best Residential Real Estate Agent.     

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Comments (2)

Sally Crane
WMS - Unity, WI
Woodland appraisal support.

Thanks for the update, all the best to you as you get many of these properties listed and sold.

Sally

 

Apr 01, 2020 10:54 PM
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Addison home buyers and sellers are sure to value your real estate market report, Lorrie.  Stay well!

Apr 02, 2020 07:01 PM