San Angelo housing 2Q 2014: Coldwell Banker Patterson
SAN ANGELO – Closings during second quarter 2014 increased substantially — over 30 percent — from 1Q 2014, while listed inventory has also increased dramatically, according to Coldwell Banker Patterson’s newest quarterly report.
The market is hovering around four months of supply, compared to two months of supply during 2Q 2013. Market observers consider six months to be a healthy supply level.
After a strong March, single-family permit activity declined in April 2014 and May 2014, however, these figures are expected to rebound in the coming months.
The average daily room rate has increased from $95.69 to $111.30 so revenue per available room (revpar) has changed very little. There is interest in the hospitality sector with Value Place and Pure Strike Development planning to develop a hotel in San Angelo.
A study by the University of Texas at San Antonio estimated the impact of oil and gas operations in ten counties in the eastern portion of the Permian Basin. “The counties to the east are the ones that have the large population centers like San Angelo and Abilene … and that’s where we expect the workforce to be drawn from," said Research Director Thomas Tunstall.
| 2Q 2014 | 2Q 2013 | Y-O-Y Chg. | |
| Avg. sales price | $164,083 | $157,355 | 4.3% |
| Avg. $/SF | $90 | $84 | 6.7% |
| Median sales price | $150,950 | $145,200 | 4.0% |
| DOM | 104 | 94 | 10.7% |
| Sale % of list | 96.5% | 98.2% | -1.7% |
| # of sales | 408 | 452 | -9.7% |
| Listed inventory | 538 | 325 | 65.5% |
Prepared by Coldwell Banker Premier Realty, Market IQ & Coldwell Banker Patterson.
Source: Coldwell Banker Patterson
See the full 2Q 2014 report from Coldwell Banker Patterson.
Check out San Angelo NewsTalk Texas and San Angelo Market Data Sources. Got news? Send to [email protected].
You might also like
TG Magazine
Check out the latest issue of our flagship publication.