So what’s happening locally in our Brazos Valley Real Estate Market. Everyone wants to know. Is it a good time to buy? Should I sell? It can be so confusing with all the news whether it be positive or negative who to believe or what’s the best choice. I totally understand, I’m in the industry and have been for more than ten years and I even find myself feeling anxious about it. But let’s look at the data on what’s happening so that we can make an educated decision.
First off, according to real estate experts and advisors anytime you have inventory levels, meaning the number of active homes on the market, that are at 6 months of inventory or below, that we are in a seller’s market. And anytime we have inventory levels, the number of active homes on the market is above six months that we are in a buyer’s market. It’s like the supply and demand theory, when there is a lot of supply of something and it’s easy to get, you can’t sell it for more money, more often you’ll have to lower the price in order to compete with all of the competition. But when there is a limited supply, then the prices go up. It’s kind of like when people were buying up all the toilet paper and selling it for 10 plus times what it was actually worth because they knew they were going to need it. So let’s see what inventory levels are doing here locally. Is it a good time to sell here in Bryan – College Station, Texas? Let’s look at what happened in the month of October. In Bryan October statistics we had 349 active listings, down 17.1% from October 2019. This is historically low, traditionally during this time, there are many more homes that are active. 349 is a very low number. One hundred thirteen homes sold in Bryan in October, up to forty-six points eight from 2019 sales. The average time to sell is only 73 days, and Bryan has three-point six months of inventory which shows us we are in a STRONG seller’s market.
Now you may be wondering if it’s a good time to sell in College Station, Texas. In College Station October Statistics we had only 486 Active homes on the market and in October 132 one hundred thirty-two homes were sold which is 59% over the number sold last October. Again, a seller’s market because we have three points for one month of inventory. So here in the Bryan – College Station, Texas area we have very low inventory and strong buyer demand. It’s a great time to sell as we are experiencing bidding wars and homes being sold above list price in many cases. Feel free to reach out to us at no cost for a hassle-free strategy session. This is your Community Market Leader Sherri Echols, a helping hand for a happy home.