The median price for a house in the College Station-Bryan market is $309,950. That is up 0.2% compared to the same quarter last year.
Jef Conn, Chairman of Texas Realtors, says one thing that has changed more significantly is active listings.
“There are a lot more homes on the market today for buyers to choose from than last year. Active listings are up 53%,” says Conn.
Conn does not expect the increase in active listings to impact the median price of a home.
“The price is just a product of supply and demand, and even though there is 53% more supply, there is still a lot of demand for a homes,” says Conn.
Conn says what happens in the second half of the year depends on what happens with interest rates.
“If we see a slight reduction in interest rates, I think there are a lot of people who have been waiting on the sidelines who will come back to the table and want to buy a home, so that could increase demand more than what we’ve got,” says Conn.
According to the Texas Realtors report, homes are staying on the market for 59 days, which is about 6 more days than this quarter last year.
Listen to “College Station-Bryan Housing Market Trends” on Spreaker.