According to a recent report issued by Texas A&M University’s Real Estate Center, sales of existing homes in North Texas were up 18% in August from the previous year. Stephenville homes should continue to sell well throughout the rest of 2012, and the entire year should show significant improvement over the last few years that were heavily impacted by the nationwide recession.
The Real Estate Center reported that 7,986 homes were sold in the North Texas region, and the median price increased by 8% up to $164,000.The sales of Texas homes fell flat in 2011, and the increase in market activity is good news for Stephenville home owners who have been thinking of putting their properties on the market. The positive trend reflects a strong local economy, which has also made it easier for consumers to pay off their mortgages and avoid foreclosure thanks to steady employment.
The report stated that it is also taking much less time for homes to sell than it did a year ago. Now, an average home is on the market for 67 days, which is a 22% decrease from the 2011 market period. The increase in real estate demand may cause prices to increase as well, which is why acting fast on Stephenville real estate is imperative if potential home owners would like to find the best deal on the market. Overall, the housing market is showing signs of recovery on a nationwide scale, which is good news to developers and investors who took a hit in revenue during the economic downturn.
Give our team of real estate professionals a call if you would like some help with finding the Stephenville home of your dreams. We’d love to show you our latest listings!