Home supply low as buying picks up across Abilene, the Big Country
Updated On: Jun 13 2013 07:21:51 PM CDT
If you've been looking to sell your Abilene home, but have stayed away from the real estate market, this may be the time to reconsider.
The number of homes available for purchase across the Big Country is the lowest it has been in years.
Homes are selling – so much so that Abilene's home "supply" is low.
At the end of April, 697 homes were available to buy on the multiple listing service. Records show there hasn't been so few homes for sale through local Realtors since the summer of 2006.
Meanwhile, buyers are on the hunt. Thirty more homes sold during April of this year compared to April 2012.
Dave Dalzell, president of the Abilene Association of Realtors, said all of that adds up to your classic, low supply/high demand situation.
"The market is showing more demand from the buyers, and it's a great time for an owner to decide to put their home on the market," Dalzell said.
Home values are also showing an increase. The median sales price for a home in April of this year is $124,500. That's up by about $13,000 compared to the same time last year.
In addition, homes are on the market for an average of 82 days before selling.
Copyright 2013 by KTXS All rights reserved. This material may not be published, broadcast, rewritten or redistributed.