Abilene home prices increase in 2013

ABILENE – In December 2013, 119 homes sold, compared to 126 in December 2012. However, the average sales price of $137,325 in December 2013 was nearly $8,000 more than in 2012.

The median home price increased to $115,500 in December 2013 from $113,250 in 2012.

“We have 6.5 months of inventory which is positive for both buyers and sellers,” said Earl Foster, the president of the Abilene Association of Realtors.

National home sales dropped 4.3 percent to a seasonally adjusted annual rate of 4.9 million units in November 2013 from 5.12 million in October 2013, and are 1.2 percent below the 4.96 million-unit pace in November 2012, according to the National Association of Realtors. This is the first time in 29 months that sales were below year-ago levels.