Abilene home prices slip, but sales rise

ABILENE – The average January 2014 home sale price of $138,306 declined nearly $12,000 from January 2013, and the January 2014 median sales price of $121,500 was $15,500 less than January 2013, according to the Abilene Association of Realtors.

In January 2014, 100 homes were sold, six more than in January 2013. January 2014 sales totaled $13.8 million, compared to $14.1 million in January 2013.

“You can look at any chart and see that this (cold season) is the valley of the home sales market,” said association President Earl Foster. “But from here on, we are on a steady climb with June, July, August being our peak when we have schools and transfers going on.”

Currently, there is two and a half months of inventory of homes, which Foster said, “is not real favorable.”

“We typically in the market would like to see a six-month supply which gives a good balance between the buyer and the seller,” said Foster. “Right now, we’re a little bit more of a seller’s market.”

For more stats, see housing under Abilene Market Data Sources.