Housing balanced and stable in San Angelo

SAN ANGELO – The real estate market in San Angelo is considered balanced and stable, according to the quarterly real estate market data and statistics reports issued by Coldwell Bankers.

The median sales price increased by 1 percent from $120,000 in 2011 to $125,000 in 2012.

The average days on market based on the median price decreased from 127 days to 108 days.

The number of sales across the board advanced close to 7 percent from third quarter 2011. Listed inventory declined by 2.7 percent.

An increase in employment, which has increased by 7 percent from 3Q 2011 points toward stronger fundamentals for housing in San Angelo.

In addition, distressed property activity is minimal, with the weakest ZIP code experiencing below 5 percent default rates and many ZIP codes registering no defaults.