The local real estate market has been through the wringer the past couple years with crazy highs in prices and then in interest rates. Right now is the time the real estate market really starts getting busy according to our normal seasonal cycle.
This is the time of year lots of people think of making a move. If you are one of them you want to know what is happening in the market now when you are ready to jump in.
Hi, I’m Sherri Echols, Broker Associate with RE/MAX Bryan – College Station.
Let’s look at what’s happening in Bryan, TX 77802.
At the time of this recording, there were
Two hundred eighty residential listings,
One hundred sixty eight pending homes, and
Eighty homes that sold in January compared to 82 sold last January
Homes sold for an average of three hundred sixteen thousand four hundred sixty three dollars. Last year the January average sold price in Bryan was Three hundred seventeen thousand two twenty.
That’s a difference of only seven hundred fifty seven dollars. Prices went up more last spring but dropped back down a little bit to where we were at the start of the year.
and were on the market an average of one hundred fourteen days this year compared to 100 days last year in January. The regular real estate season slows down during the holidays, this is why those days on market are longer than they are at different times of the year.
There is still loads of demand, we are a growing community and people continue to migrate to Texas. The local economy is feeling the effects of inflation but still doing well.
Builders are building but inventory is still a bit low. Interest rates are coming down a little bit from the high they hit last year. This will keep the market moving with opportunities for both buyers and sellers.
If you are thinking of moving, let’s connect and talk about the options available to you. I’m your community market leader Sherri Echols, a helping hand for a happy home.
