Number of available Midland County houses lowest in 17 months

​​​MIDLAND – The number of existing​ homes for sale in the county dropped to its lowest level since July 2015, according to the December report from the Permian Basin Board of Realtors (PBBOR).

Last month, 481 homes were on the market, the first time in 17 months that available houses dropped below 500. The number of homes reached a year-high of 630 in July 2016.

The December number was also exactly 100 below the average monthly number for 2016.

There were 165 homes sold in December, which was more than in any December going back five years. The average sales price was $281,148, which is the most of any December since 2012. The average price was nearly $5,000 more than the average for the year. 

PBBOR statistics show a month-to-month increase in homes sold for $400,000 or more (from 17 in November to 21 in December). The driver of the $46.5 million in inventory sold appears to have taken place in the $200,000 to $399,999 range.