Local Market Update October 2021

Local Market Update October 2021

We are currently shifting into the fourth quarter of the year which means that there will be changes in the real estate market as the Holiday season starts to take place. Hi this is Sherri Echols, Broker Associate with RE/MAX Bryan – College Station, and here is what you can expect in our local real estate market.

There is a significant decrease in the amount of homes on the market, but that does not mean that there is no inventory. As of the filming of this video there are 187 single family and new builder homes active on the market in Bryan with the average days on market at 91. In College Station there are 129 active listings and average days on market is 72.

Listings are coming on the market but selling just as quick. In Bryan there are 204 pending sales and 748 single family and new build homes sold in the last 180 days. College Station comes in with 291 pending sales and 941 sold in the last 180 days.

Median sold price in Bryan is 247,000 and in College Station it is sitting at $310,000.

The rise in listing and sale price for Bryan and College Station continues to slightly grow, but just note that in order to get your home sold for top dollar, you may need to wait longer for the right buyer. Don’t just accept the offer that comes in on the first day it is listed. There is competition to be had and sellers have the advantage.

The average days on market will expect to decrease as people continue to get vaccinated and more people actively view listings, but the Holiday will allow a possible halt to that decrease. And we are all waiting to see what is going to happen with interest rates. They have been at record lows for quite some time but rumor has it they will be going back up in the near future. If you have questions I can help with, give me a call, I’m always here to help. I’m your Community Market Leader Sherri Echols, a helping hand for a happy home!

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