How's the market? It is one of the most common questions I get asked as a Texas REALTOR®.
For today's blog entry, I decided to analyze the latest data available to us from the Texas Real Estate Website. Specifically, I want to look at a couple of things worth discussing - Average House Sales Price and Average Days on Market.
For today's blog entry, I decided to analyze the latest data available to us from the Texas Real Estate Website. Specifically, I want to look at a couple of things worth discussing - Average House Sales Price and Average Days on Market.
Average Sales Price
The average sales price of a house on the MLS jumped from $135,678 to $152,747. That is a 12.6% jump from one year ago. Different factors can affect this value. However, considering the number of properties sold during the month, I feel it shows the average sales price of market properties has rapidly appreciated on the average from last year. We will need to keep an eye out on this to see if this data is part of a larger trend.
Average Days on Market
The number of days a property stayed on the market decreased from 117 (January 2019) to 69 (January 2020). That is a whopping 41% difference! Seems like we have a demand for housing in Brownsville. This information is also reflected on the market inventory currently available compared to one year ago. In January 2019 there was a 6.6 month's worth of inventory. In January 2020, there is only a 4.8 month's worth of inventory.
The average sales price of a house on the MLS jumped from $135,678 to $152,747. That is a 12.6% jump from one year ago. Different factors can affect this value. However, considering the number of properties sold during the month, I feel it shows the average sales price of market properties has rapidly appreciated on the average from last year. We will need to keep an eye out on this to see if this data is part of a larger trend.
Average Days on Market
The number of days a property stayed on the market decreased from 117 (January 2019) to 69 (January 2020). That is a whopping 41% difference! Seems like we have a demand for housing in Brownsville. This information is also reflected on the market inventory currently available compared to one year ago. In January 2019 there was a 6.6 month's worth of inventory. In January 2020, there is only a 4.8 month's worth of inventory.
Based on the data provided by the Texas Real Estate website and my brief analysis, I believe it's safe to say Brownsville is currently experiencing a sellers market. So, If you are thinking about selling your house, now is the time to do it! Call me. Peak season is about to begin.
Finally, I want to thank the folks at the TexasRealEstate.Com website and the Texas A&M University Real Estate Center. The data I used for this post comes from the hard work and dedication from the people there.
Have a question about the information presented here? Leave your comment or question in the comment section below. Alternatively, you may contact me directly via phone at (956) 203 - 0314, via email at carlomstz73@gmail.com, or via this contact form.