Mar 7, 2018
El Paso-area homes hit record-high prices says NAR
EL PASO – Area resale home prices hit a record high in 2017, new data show.The median price for an existing single-family home averaged $151,500 last year in El Paso...
EL PASO – Area resale home prices hit a record high in 2017, new data show.
The median price for an existing single-family home averaged $151,500 last year in El Paso County, the National Association of Realtors (NAR) reported.
That’s only 2 percent above the 2016 median resale price—but 9.3 percent above 2012 median resale price of $138,600.
New home prices are even higher; in January 2018, El Paso’s median new home sales price was $167,950.
Even with the increase in prices, El Paso continues to lag other cities in Texas and other areas of the Southwest in home values.
Texas had eight of the 114 metro areas in the country that hit record highs for resale home prices in 2017.
The median resale home price nationally also set a record high at $248,800—an increase of 5.6 percent over the previous resale high in 2016 of $235,500.
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