The local housing market remained steady during the month of April.
However, Amy DuBose, Bryan-College Station Regional Association of REALTORS® Association Executive, says there could be more of a dip in May.
“A lot of stuff that came to the closing table in March and April were things that were already in the queue for the most part. It should be interesting to see what happens with May numbers,” said DuBose.
Compared to April 2019, there was a decrease in homes sold, but there were increases in median price, monthly housing inventory, and active listings.
DuBose says several realtors are wearing masks and gloves, while encouraging their clients to do the same. Homeowners are also providing hand sanitizer and wipes for potential buyers.
Realtors have also taken advantage of technology to create virtual open houses, enhanced virtual tours, and 3D elements.
Click HERE for more statistics from BCSRAR.
From the Bryan-College Station Regional Association of REALTORS®:
The Bryan-College Station Regional Association of REALTORS® has recently released their market report for April 2020 and the College Station/Bryan MSA market has remained healthy through the month. As we move forward, we will continuously review stats to see if there has been impact due to Coronavirus. While there have been a few dips, the marketplace has remained fairly steady for the month of April.
The number of closed homes in the MSA saw a 12.1 percent decrease, as compared to this time last year, with 297 listings closing during the month. Home sale prices remained relatively the same for the month with a 3.2 percent increase, as compared to April 2019, to $229250.
The number of active listings boosted slightly with a 12.1 percent increase and 1600 active listings. Inventory levels in the College Station/Bryan MSA remained level for the month, as well. In April 2020, the available housing inventory* saw a .3 months increase of inventory compared to last year, bringing it to 5.50 months. The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.
Homes in the MSA spent an average of 109 days on the market from active to close during the same time frame, experiencing only 2 days more than in April 2019. The days on market remain at a respectable level, confirming the overall health of the market and buyer’s confidence in what our area has to offer. This market health should help us carry through possible uncertain times.
April 2020 Statistics – College Station/Bryan MSA – As compared to April 2019 (YOY)
- 297 – Homes sold, 12.1 percent decrease YOY
- $229250 – Median price, 3.2 percent increase YOY
- 5.5 months – Monthly housing inventory, .3 months increase YOY
- 109 – Average number of days homes spent on the market, 2 days more YOY
- 1600 – Active listings, 12.1 percent increase YOY
Infographics for College Station/Bryan MSA and our surrounding communities (including those specifically for just Bryan and College Station) can be found at www.BCSRealtor.com/stats.
With a continuously growing economy, booming population and high quality of life, Texas is a great place to live, work and do business. As such, the demand for Texas real estate remains strong and enduring. Local REALTORS® continue to work daily to protect the rights of private-property owners, keep homeownership affordable, and promote public policies that benefit homeowners.