Summer Home Sales Examined

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Summer Home Sales Examined

spring-texas-real-estate-marketThe good news is, 2010 is off to a positive start according to sales data for Bryan/College Station after this quarter. After the rough year that was 2009, this year’s numbers are garnering an optimistic view for remaining months.  The refreshing numbers are due in part to beginning economic recovery and an increased confidence in the market. Of course, a huge contributing factor is the Homebuyer’s Tax Credit, which provided tax incentives for those intending to purchase a home.


Sales for 2010 in BCS are up considerably over last year, but still not matching those of 2008.  Here are the positives:

  •  Average sales prices in our region have remained steady since 2008. Monthly average sales ranged from $150,000 to $180,000 depending on the months. The median is a healthy ~$167,000.
  • The number of units sold each month is closely following the dollar volume sales numbers because of the consistency in the average sales price.
  • Total residential dollar volume is up $10.3 million over 2009, but still $4.3 million short of 2008.
  • April 2010 saw 50 more houses sell than April 2009 (but 20 less than April 2008).
  • During the first quarter of 2010, we’ve sold 93 more houses than in the first quarter of 2009.  However, this is 72 short from the first quarter of 2008.
  • Year-to-date: sales are up $18 million in the first four months over 2009, but still $7.3 million short of 2008.

So, what can we expect for the Bryan/College Station market this summer?  June, July, and August have typically seen the largest spike of the year in home sales, last year being no exception. The Homebuyer’s Tax Credit was partially to thank for this, as it raised numbers last fall to above 2008 levels.  Hopefully these positive trends will continue.  Fannie Mae is now anticipating a 9% growth in total sales.  Additionally, if employment in our area continues to improve as expected, home sales should continue an upward trend.   

However, in February, projected that Bryan/College Station will experience their lowest housing prices in the fourth quarter.  It will be interesting to see how these summer months will fare this year now that the Homebuyer’s Tax Credit has expired.


   Clay Lee – Realtor    claylee

Century 21 Beal, Inc.

(979) 255-1839

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