Midland housing 3Q 2013: Coldwell Banker CovenantMidland housing 3Q 2013: Coldwell Banker Covenanthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=55272013-12-10T09:48:00Z2013-12-10T00:00:00Z

MIDLAND - Median home prices increased by nearly 7 percent in third quarter 2013 from 2Q 2013, and have increased by 17.5 percent on a year-over-year basis, making Midland one of the highest price growth cities in both Texas and the nation.

Marketing times in Midland are quite low, having dropped to under one month on average, down almost one week from 2012.

Months-of-supply also remains low, hovering around two months for the past several quarters. Six months of inventory is considered by many to be a normal supply-demand condition, however that has typically been a high point in the Midland market.

Key Midland Home Statistics
Avg. sales price $237,332 $271,038 14.2%
Avg. $/SF $104 $117 12.8%
Median sales price $200,000 $235,000 17.5%
DOM 38 29 -23.3%
Sale % of list 98.1% 98.4% 0.3%
# of sales 528 490 -7.2%
Listed inventory 359 326 -9.2%

Source: Coldwell Banker Covenant

Also see Coldwell Banker Covenant's full report under housing in Midland Data Sources.

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