| Latest quarterly Texas home sales figures have been released by the Texas Association of Realtors. |
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| AUSTIN (Texas Association of Realtors) – Texas home sales and home prices reached all-time highs last year, according to the 2015-Q4 Texas Quarterly Housing Report released by the Texas Association of Realtors (TAR).
According to the report, 70,150 homes were sold in the state in the fourth quarter, a 0.3 percent increase from the same quarter 2014. Throughout 2015, home sales rose 4.1 percent from 2014 to 309,090 sales. This is the first time that annual Texas home sales have topped 300,000.
Statewide home prices continued to climb steadily throughout the fourth quarter. The median home price for Texas homes was $195,000, a 5.5 percent increase from the same time the previous year.
Housing inventory also rose, ending the fourth quarter at 3.4 months compared with 3.1 months in the same quarter the previous year. The Real Estate Center at Texas A&M University estimates that a monthly housing inventory between 6.0 and 6.5 months is a level at which the supply and demand for homes is balanced.
“Falling oil prices and drilling activity are just beginning to significantly impact the Texas real estate market,” said Real Estate Center Chief Economist Dr. Jim Gaines. “The full effects have yet to be seen. However, the decline of the energy sector could add much-needed housing stock to the market, filling labor shortages in the homebuilding industry and helping the Texas housing market move toward a more balanced market for buyers and sellers.”
Active listings statewide rose 12.8% year-over-year to 86,976 active listings in the fourth quarter. Texas homes also continued to spend less time on the market—an average of 60 days, down four days from the same quarter the previous year. |
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College Station home sales are picking up again as we enter February 2016. A buyer needs to be on their toes to get hold of multi family properties which are scarce this season. If you’re looking for a single family home inside the 2818 loop, be prepared to compete against multiple buyers the day it goes on the market. That’s good news if you’re selling a property, but not if you’re buying. You’ll need an agent who’s on her toes and familiar with the market or the other buyer will most likely beat you out of what might have been the perfect property. It’s currently a sellers market. Myke Leatham, Broker/realtor with Brazos County Realty, LLC is on top of things, knows how to get the job done, and is extremely knowledgeable of the market. Find up to date MLS listings for sale at MLS Search for the Brazos and surrounding counties.
As always, it’s a pleasure to help you with your HOMEwork!
