Written By: Vikki Head
Is the market hot… or not? Is it a good time to buy? What about sell? Should I wait for the Spring??
These are the questions we get on a daily basis. And it’s something that should be on every Abilenean’s mind – because real estate and the purchase of real property is often the most expensive purchase a person will make.
A few quick statistics:
2021 Median City of Abilene Home Price – $209,000 (a 7.8% increase from 2020)
Active Listings (Homes on the Market) are down 29.1%
And Closed Sales are up 10.7%
So, what do these numbers tell us as real estate professionals?
(and this is what we do – we care about the numbers because they show us what the market is doing.)
It is still a seller’s market, and inventory is historically low although home prices are increasing in our area like much of the markets in Texas and the rest of the country.
That doesn’t mean that it isn’t a good time to buy though, and the reason for that is because the demand has slightly decreased with the time of year and interest rates are still very low (although we are seeing them start to rise in the last few weeks).
Now, in other words, is the perfect time to sell and/or buy. Prices and values are still strong and inventory and rates are low – and competition for buyers isn’t what it was this past summer which is good – it’s a breath of fresh air, and if you can find the right house now, then now is the time.
Call us for any and all of your real estate needs!