Real Estate Market

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Market Trends Newsletter

Housing Report

Note: National Association of Realtors® (NAR) data shown below is from April (most current national data)

A persistently low supply of existing homes available for sale slowed April's sales velocity, resulting in a 29-day median number of days that a home remained on the market, a new low according to the National Association of Realtors®.

Total existing-home sales (completed transactions for single-family homes, townhomes, condominiums and co-ops), fell 2.3% to a seasonally adjusted annual rate of 5.57 million in April from 5.70 million in March. Despite the decline, sales remain 1.6% higher than a year ago and represent the fourth highest pace for the last 12 months.

 Existing Home Sales By Region
NAR's chief economist, Lawrence Yun, said that every major region except the Midwest saw a drop in existing sales in April. "Last month's dip in closings was somewhat expected given that there was such a strong sales increase in March at 4.2 percent, and new and existing inventory is not keeping up with the fast pace homes are coming off the market," Yun said. "Demand is easily outstripping supply in most of the country and it's stymieing many prospective buyers from finding a home to purchase."

Housing Data Takeaways

April's median existing-home price (all housing types) was $244,800, up 6.0% from the same time last year ($230,900). Price gains in April represent 62 consecutive months of year-over-year growth.

Total housing inventory nationally at the end of April rose 7.2% to 1.93 million existing homes available for sale, and is 9.0% below one year ago (2.12 million) and has dropped year-over-year for 23 straight months. Nationally, unsold inventory offers a 4.2-month supply at the current sales pace,  down from 4.6 months a year ago.  

Freddie Mac data shows the average commitment rate for a 30-year, conventional, fixed-rate mortgage fell for the first time in six months, dipping to 4.05% in April from 4.20% in March. For all of 2016, the average commitment rate was 3.65 percent.

Summer Selling Opportunities

Sellers, you have an excellent opportunity to sell your home this season if you have the right pricing strategy in place from the start! Studies show that the longer a property stays on the market, the less the seller will net upon the sale. It is very important to price your property at a competitive market value at the signing of your listing contract. The market today in many places is so competitive that even over-pricing by a few thousand dollars could mean that your house will not sell as soon as it could.

An Overpriced Home:
· Minimizes offers
· Lowers agents response
· Limits qualified buyers
· Lowers showings
· Lowers prospects
· Limits financing
· Wastes advertising dollars
· Nets less for the seller

When you are ready, contact us today for a personal market value analysis of your home. No hassles or obligation - just honest advice on how to get top dollar for your home!

The Perfect Home Awaits You in Burleson County

Are you one of those people that appreciate being near a large metro area, but also want a small-town lifestyle?  If so, then Burleson County is the ideal place to find your next home.  There are 3 main communities that are located in Burleson County – Caldwell, Snook, and Somerville.

Caldwell serves as the county seat and goes by the nicknames "The Kolache Capital of Texas” and “The Big Grape.” This home of over 4000 residents has a rich history that is appreciated by the people who live here. You can see this history reflected in landmarks such as the Reeves-Womack House, and First Presbyterian Church.  The Caldwell Independent School District manages four schools in the city, taking care of education for all grade levels.

Want an even smaller, more tight-knit community to call home? With only 500 people, Snook is a great option.  Somerville also only has some 1300 residents.  They are both perfect choices for living in a community that enjoys a more relaxed pace of life.

Find out more about Burleson County on our Burleson County Real Estate and Community Information page, as well as search for the perfect home.

Contact Information

Kathy Scott
Real Estate BCS
1701 Southwest Parkway Suite 110
College Station TX 77840
(979) 695-3300
Fax: (979) 217-8780