San Angelo housing 4Q 2013: Coldwell Banker
SAN ANGELO – Home sale prices increased on a quarter-over-quarter basis as well as year-over-year. For 2013, prices advanced by nearly 16 percent for average sale prices per sf, according to Coldwell Banker Patterson’s fourth quarter 2013 report.
After extremely strong sales in third quarter 2013, closings have moderated back to 2012 levels. A drop in sales is not entirely surprising following three quarters of increasing closings.
Supply was clearly constrained through much of 2013, dropping as low as two months. Since mid-year 2013, months-of-supply has moved back towards a more normal four months.
Currently, San Angelo’s largest employers are Goodfellow Air Force Base, Shannon Health System, San Angelo ISD, Angelo State University and San Angelo State Supported Living Center.
San Angelo, which already boasts an unemployment rate lower than both the U.S and importantly, Texas, will likely continue to benefit from oilfield labor requirements. Cline Shale is expected to increase the needs for labor in the future as resources are being solidly proven in the Cline formation.
| 4Q 2013 | 4Q 2012 | Y-O-Y Chg. | |
| Avg. sales price | $163,593 | $147,406 | 11.0% |
| Avg. $/SF | $89 | $77 | 15.8% |
| Median sales price | $145,000 | $135,000 | 7.4% |
| DOM | 85 | 118 | -28.4% |
| Sale % of list | 96.1% | 95.9% | 0.2% |
| # of sales | 285 | 367 | -22.3% |
| Listed inventory | 400 | 439 | -8.9% |
Source: Coldwell Banker Patterson
Coldwell Banker Patterson’s full report under housing in San Angelo Data Sources.
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