In a town of 15,000+ residents, with 80% living in apartments, there aren't many non-investment properties to begin with. The problem of low inventory has not bypassed Addison. For a while last year, we were down to a supply of just 3-4 homes for a few months.
Inventory started to ease a few months ago, but never reached more than a dozen or so properties for sale at any one time. And some of those properties are incomplete new construction, so if you wanted a move-in ready home, your choices were further reduced.
But now we're back to single digit inventory. Three of the available homes are over $1M. Another one is incomplete new construction. Three of the under $1M properties are single family homes, two are townhomes, and one is a condo.
The market may be shifting around us, but here in Addison, the lack of supply vs strong demand will keep prices high, regardless of interest rates. It's still very much a seller's market.
If you are interested in any property for sale in Addison or the surrounding communities, get in touch with me. But quickly, before they're gone!