Nothing flat about this area's housing futureNothing flat about this area's housing futurehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=159052017-02-28T06:00:00Z2017-02-28T22:45:00Z

​​AMARILLO – Despite the chronic shortage of available homes for sale, the 2016 Amarillo/Canyon single-family residential market marks the second straight year to record its best ever performance.

The closed sales in 2016 were 3,606 which increased by 3.06 percent from 2015 when they were 3,499.

Home sales prices in 2016 increased overall with the average sales price up 2.84 percent to $177,687, while the median single-family sold price was up 5.02 percent to $154,900.

There were 1,000 listed homes in the Amarillo Association Multiple Listing Service (MLS) as of 2016 year-end, increasing by an additional 48 homes from 2015, a 5.04 percent increase.

The overall market ends 2016 with 3.33 months of inventory compared to the end of 2016 with 3.26 months of inventory.

This is certainly less than the 6.5 months of inventory considered by the Real Estate Center at Texas A&M University as reflecting a balanced market.

The City of Amarillo permitted 624 new single-family homes in 2016, 124 more homes than permitted in 2015.

Amarillo Association of Realtors' MLS reported 305 new homes sales in 2016, compared to 247 in 2015, an increase of 58 sales.

2017 Forecast

  • 3,725 single-family sales;

  • $183,000 average sales price; $161,000 median sales price;

  • ​1,000 active listings at year-end 2017; and

  • ​450–500 single-family building permits.
Coldwell Banker Commercial
https://www.cbamarillo.com/pages/amarillo-marketSource: {Source}

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