Permian Basin home prices hit highest mark in four years

​​​​​MIDLAND – The average price for a home sold in Midland County rose above $300,000 for the first time since October 2014 and was the highest since at least 2012, according to figures from the Permian Basin Board of Realtors (PBBoR).​

The average price of a home in August was $315,843, which​ was more than $40,000 higher than the average price this time last year. 

PBBoR also reported:

• 604 houses on the market (26 fewer than July);

• 197 houses sold (seven more than July);

• houses stayed on the market for an average of 50 days (11 fewer than July); and

• the median price of a home sold reached $245,000, the highest of the year.

Homes sold in August in Midland County totaled $62 million, an increase of more than $10 million compared with July. Included in the homes sold were seven for more than $1 million and 64 for more than $300,000. Most houses were sold in the $200,000 to $249,999 range (41). Houses in that range were also the quickest to sell (32 days).​