Sep 19, 2017
Mid-year housing review shows (____) on top
MIDLAND – The Texas Association of Realtors’ mid-year review shows Midland is the most expensive city in West Texas and comparable to larger metropolitan areas in the state.The review indicated the...
MIDLAND – The Texas Association of Realtors’ mid-year review shows Midland is the most expensive city in West Texas and comparable to larger metropolitan areas in the state.
The review indicated the median price for a home sold between January and June 2017 was $246,000, 5.1 percent higher than last year.
That median price was higher than the median price in Odessa ($170,000), San Angelo ($165,000), Amarillo ($163,700), Lubbock ($155,000), Abilene ($152,000) and El Paso ($146,904).
Midland’s median price was greater than the median price of a home sold in the state during the same period ($221,000).
It was also higher than the median price in San Antonio ($210,000) and Houston ($229,000) but lower than Dallas/Fort Worth ($254,269) and Austin ($295,000).
Other notables from the report included:
- The number of active listings (484) was down 26.8 percent from 2016.
- The months of inventory (2.7) was down 1.3 months from June 2016.
- The average days a home sold stayed on the market was 54 days, down two days compared to 2016.
- The price per sf of a home sold increased 3.4 percent from 2016 to $123.
The report also showed 1,388 homes sold in Midland, which was a 39.6 percent increase from the same period in 2016.
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