2013: Which city averaged 40 days on the housing market?2013: Which city averaged 40 days on the housing market?https://www.recenter.tamu.edu/news/newstalk-texas/?Item=51222014-01-29T09:44:00Z2014-01-29T09:00:00Z

MIDLAND - The average home price reached $254,680 in 2013, a 7 percent increase from the average in 2012, according to the Permian Basin Board of Realtors. August 2013 saw the largest home prices, with an average of $283,568.

The median home price in 2013 was $221,504, nearly an 8 percent increase from 2012.

The average number of days homes sat on the market in 2013 was 39.75. The average was 41 days in 2012, 55.75 days in 2011 and 65.67 days in 2010.

The average number of homes on the market in 2013 was 271 per month. In 2012, the average number was 277. That figure sat around 350 in 2011 and topped 500 in 2010.

The Midland City Council has approved the zoning for a subdivision in north Midland that will add about 900 new homes to the market.

The first of several phases of homes are expected to be on the market in September 2014, according to Rick Betenbough, president of Betenbough Homes.

Midland Reporter-Telegram
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