2017 looking like big year for El Paso home sales2017 looking like big year for El Paso home saleshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=176972017-09-08T05:00:00Z2017-09-08T16:00:00Z

​​​​​​​COLLEGE STATION – El Paso is on its way to having another big year for home sales, according to the latest Real Estate Center housing data.

Residential sales in El Paso County were at their highest in 2016 with over 7,100 sales, but 2017 may exceed that count. Second-quarter year-to-date (YTD) sales have already surpassed sales for the same period last year.

"El Paso is sprawling to the east along both SH 180 and now along US I-10," said ​Center Senior Data Analyst Josh Roberson,​ who writes the Center's monthly and quarterly MSA housing reports.

"For the past few years, ZIP code 79938, where Loop 375 meets SH 180, has been one of the county’s heaviest hitters for home sales activity," Roberson said. "After an enormous year in 2015, with over 1,500 sales, 2016 sales leveled off at 1,350 followed by Q2 2017 YTD sales of almost 700."

Meanwhile, to the south along I-10, ZIP code 79928 has picked up a lot of steam over the past couple of years and may soon be the county’s new hot spot, Roberson said​. Second-quarter 2017 YTD sales there totaled 645, which is already 65 percent of 2016’s year-end sales.

East El Paso home sales trends

For both ZIP codes, almost half of MLS sales in recent quarters were categorized as single-family new construction sales with a median price of $170,000 and a median size of 1,700 sf.

West El Paso is also growing at a stable pace. Compared with the city's eastern boundaries, housing sales in this area come mainly from homes in more established neighborhoods and therefore rely more on repeat home sales. There has, however, been a recent uptick in new construction single-family sales. Within ZIP codes 79932, 79911, 79912, and 79835, new homes have been selling throughout 2017 at a median price of $225,000 and a median size of 2,000 sf.

Building permits for single-family dwellings are up as of 2Q 2017 YTD compared with the same period in 2016. Roberson said rising permit counts could be a signal that El Paso’s wave of new construction may continue into the near future.

In addition, El Paso’s economy has benefited greatly from the state’s uptick in trade across the border, which in turn could help sustain the area’s demand for housing. For more details about the border economy, including El Paso, read the Center's report, Texas Border Economy​.​​

For more on El Paso's housing market, check out the Center's second quarter 2017 and July 2017​ housing reports.

Real Estate Center
El Paso
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