The College Station real estate market has had some drama over the last three years. The predictions for the national market are indicating some stabilization with slower price appreciation than we’ve seen in recent years. It seems our local market will follow suit. Let’s take a look.
In College Station, TX 77845, we have
Two hundred twenty three active homes on the market, with
One hundred fifty nine pending.
Eighty two homes sold in January.
In January 2022, 90 homes were sold in College Station.
These numbers show that we have about 2.7 months of inventory. This is still a sellers market but higher interest rates are slowing buyers down a little bit so the buyers who ARE out buying now have some opportunity to negotiate.
The average sale price was three hundred seventy two thousand seven hundred thirty five dollars compared to Three hundred forty nine thousand two hundred fifty seven dollars.
That is a difference of twenty three thousand four hundred seventy eight dollars. Some of this difference will be prices correcting but some is because in a slower market the more expensive homes sit a bit longer, this will lower the average sales price as well.
Average days on market in January 2023 were seventy six. Last January average days on market were seventy three. Days on market are pretty consistent.
Overall, the College Station real estate market is performing well and is expected to continue its upward trend throughout the year.
With a strong local economy, a growing population, and a limited supply of homes available, now is a good time for both buyers and sellers to take advantage of the market conditions.
If you’re thinking of making a move let’s get together and set a strategy for your success. I’m your community market leader Sherri Echols, a helping hand for a happy home.