Bryan College Station Real Estate Market Summary Jan – July 2010

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Bryan College Station Real Estate Market Summary Jan – July 2010

2010 January – July

Bryan/College Station, Texas Real Estate

Market Statistics

Let’s start with the question… What do YOU think about the Bryan College Station real estate market? I’d really like to know. Checkout the charts below.

We are beginning to see that the market may not be holding for our community. I know we all like to think we live in the BCS/TAMU Bubble but the rest of the world is pushing on our bubble.  Hopefully July was just a blip for the market but I don’t think so.  Thankfully Century 21 Beal is still actively selling and we are still ahead of last year’s business – I almost feel sorry for the other agents in town.

We see that sellers who really want/need to sell are listening to us, pricing the property to get it sold and they are selling. Other sellers are trying to “get what the house is worth” or “get what the comps show” or “get what they need”.   As much as I would like to say we have the power to control what buyers should pay – we don’t.  We don’t have any control over what buyers will pay and right now buyers are looking for “the deal” or “the perfect house”. There is so much to choose from – they can be choosy. 

Much to our dismay the number of properties sold in July 2010 versus July 2009 is down 38%  The inventory continues to climb and is at 1646 properties. This is 33% above this time last year. The only good thing we have seen is that the DOM (Days on Market) has decreased. My personal opinion on why this is happening is that real estate agents are taking listings out of MLS if they have been on the market a long time and then adding them back in. Then, when those listings sell the numbers are not real numbers. So, don’t get too excited over a decrease in Days on the Market it probably isn’t real.

Year to date the number of sales are only down about 1% over 2009 but remember YTD Jan – June we were up almost 9% until July’s production.

Since I have no crystal ball I can only provide you with my opinions and market statistics.  Below is what we know has happened.

  • The Total Sales Volume in July 2010 was down 38% from July 2009 and down 50.3% from 2008.
  • The Number of Homes Sold in July 2010 was down 37.8% from 2009 and down 47.7% from 2008.
  • The Available Homes in July 2010 rose 33% from 2009 and was up 35% more than 2008.
  • In July there were 189 residential properties sold
    • 119  single family
    • 21  condos
    • 7  manufactured homes with land
    • 8 patio/townhouse
    • 11 houses with acreage
    • 0 recreational
    • 17 new builder homes
    • 1  new builder homes with acreage
    • 5  new builder patio/townhomes
  • Total sales were $30,773,396  (Was $61,873,310 in 2008)
  • Buyers are in control.
  • Inventory is high and sellers should try to work with every offer they receive.
  • Buyers have many choices.
  • Mortgages are available but nationwide more people have a credit score too low to get financing than last year.
  • Interest rates are at historical lows but that is not causing more buyers to get into the market.
  • CENTURY 21 Beal has the largest market share in Bryan College Station for properties that actually sell with 16.4% of the market so far this year and 16.9% in July 2010 alone!
  • If you are ready to sell let’s get it done now!

Sales

2009

2010

Change

January

87

89

up 2.3%

February

91

107

up 17.6%

March

151

176

up 16.6%

April

183

233

up 27.3%

May

266

282

up 6%

June

300

286

Down 4.7%

July

304

189

Down 37.8%

August

249

 

 

September

128

 

 

October

144

 

 

November

148

 

 

December

133

 

 

 
 

 

 

 

Jan – July

1382

1368

Down 1%

 

   
 

Available Listings

2009

2010

Change

January

1111

1298

up 16.8%

February

1188

1439

up 21.1%

March

1265

1577

up 24.7%

April

1272

1588

up 24.8%

May

1254

1613

up 28.6%

June

1253

1588

up 26.7%

July

1233

1646

up 33.5%

August

1222

 

 

September

1243

 

 

October

1216

 

 

November

1175

 

 

December

1114

 

 

 

 

 

 

 

 

 

 

 

 

 

 

       

Listings Taken

2009

2010

Change

January

371

344

Down 7.3%

February

421

441

Up 4.8%

March

622

541

Down 13%

April

362

484

Up 33.7%

May

334

372

Up 11.3%

June

403

422

Up 4.7%

July

447

450

Up .7%

August

295

 

 

September

257

 

 

October

241

 

 

November

193

 

 

December

179

 

 

 

Want to know more about what is going on in the Brazos Valley?  Checkout The Century Tree Reader. New posts, photos and community information is posted weekly if not daily!

Have you ever been driving around a neighborhood and wanted to know how much a house is selling for but you didn’t want to “bother” the agent or they weren’t there when you called? WE HAVE THE ANSWER!!!   Call 979-764-2121 and enter the street number and you can HEAR information about that house.

If you are reading this you must be interested in real estate. Think about taking that interest to the next step. Find out  what a career in real estate sales can offer you and your family. Yes a license is required and you will need to take classes to qualify to take the licensing  exam. All the courses can be taken online. Century21 International and Century 21 Beal offers the best success training in this area. Call  me at 979.764.2100 

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Be sure to forward this email on to others you know and care about.

Share the knowledge that Bryan/College Station is NOT participating in a real estate recession!

And, we need your help – we need your referrals. CALL ME!

Susan Hilton

CENTURY 21 Beal, Inc.

http://susanhilton.com

404 H University Drive East w College Station, Tx 77840
Phone: 979-764-2100 w Fax:815-328-0575

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