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Permian Basin home prices hit highest mark in four yearsPermian Basin home prices hit highest mark in four yearshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=147072016-09-29T05:00:00Z2016-09-29T20:00:00Z

​​​​​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).​

Midland Reporter-Telegram
Midland
Housing
http://www.mrt.com/business/article/PBBOR-Average-price-of-a-home-sold-tops-315-000-9306844.phpRead more at {Source}

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