What’s happening in our local market? Well, I’m here to tell you!
Hi, I’m Sherri Echols, Broker Associate with RE/MAX Bryan College Station. We have seen an increase in inventory in Bryan / College Station, inventory has gone up 23.7% in the last month! BCS has 1505 Active listings on the market, and 221 closed in the last 30 days. The absorption rate, which by the way is a primary factor to consider when pricing a home is 5.5 months, In layman’s terms, we have 5.5 months of inventory on the market. This means it would take 5.5 months to sell our current inventory at the current rate of sales, this is 1.1 months more than we had a year ago.
The total days on market are averaging 104 days which is 1 day more than a year ago. We are seeing more inventory, slightly more time on the market, and more price reductions. What does this mean if you want to sell? So many people think it is best to wait until spring, the first week of January is actually the best time to list when the new year begins. In fact, if your lawn is still green and looking good I would get the listing photos made now because St. Augustine is dormant in January and doesn’t photograph as well.
And for buyers now may be the perfect time as we have plenty of inventory and interest rates are still extremely low, which means you can get more houses for less money! I hope this has been helpful! Reach out to me if you are considering buying OR selling as I’d love to help. As always, make it a great home buying and selling day!
