El Paso housing stats 3Q 2014 Coldwell Banker
EL PASO – Coldwell Banker de Wetter Hovious Inc. has released its third quarter 2014 El Paso housing report.
Home price growth moderated in third quarter 2014, nearly matching the levels of 2Q 2014. The overall price trend remains upwardly biased, albeit at a much more predicable pace than other Texas cities.
Year-over-year, closings were off just 2 percent, and down just over 5 percent from 2Q 2014. This is not very alarming considering that 2Q 2014 as one of the best in years in terms of sales velocity.
Listing activity jumped slightly in 3Q 2014 and on a year-over-year basis a bit more dramatically. Combining the slightly higher level of active inventory and the mild drop in absorption, months-of-supply increased to nearly eight months.
New home permitting activity remains very mild, and months-of-supply, while not elevated above historical averages does not have significant pressure to add substantive supply.
| 3Q 2014 | 3Q 2013 | Change | |
| Average sales price | $156,055 | $161,682 | -3.5% |
| Average $/SF | $83 | $85 | -1.7% |
| Median sales price | $139,950 | $142,450 | -1.8% |
| DOM | 96 | 104 | -7.8% |
| Sale % of list | 97.2% | 97.2% | 0.0% |
| # of sales | 1,633 | 1,667 | -2.0% |
| Listed inventory | 4,257 | 3,955 | 7.6% |
Source: Coldwell Banker de Wetter Hovious (quarterly report on lower left bottom)
For the entire report, see Housing under El Paso Market Data Sources.
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