Halfway through 2020 and in the midst of a pandemic, the Bryan-College Station housing market remains steady.
Amy DuBose, Association Executive, Bryan-College Station Regional Association of REALTORS®, says although houses are remaining on the market a little longer, homes sold increased by 14 percent and the median price increased by 2.5 percent compared to this time last year.
The number of active listings and monthly housing inventory saw a slight decrease compared to 2019.
DuBose says another good sign is the property management companies reporting 98 to 99 percent pre-lease for the fall.
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News release from Bryan-College Station Regional Association of REALTORS®:
The Bryan-College Station Regional Association of REALTORS® has recently released their market report for June 2020 and the College Station/Bryan MSA market has remained healthy through the month. While there have been a few dips in specific market pockets during the Coronavirus shutdown, the marketplace has remained fairly steady for the month of June.
The number of closed homes in the MSA saw a 14.1 percent increase, as compared to this time last year, with 446 listings closing during the month. Home sale prices remained relatively the same for the month with a 2.5 percent increase, as compared to June 2019, to $226500.
The number of active listings dipped slightly with a 6.8 percent decrease and 1439 active listings. Inventory levels in the College Station/Bryan MSA also dropped a tad, as well. In June 2020, the available housing inventory* saw only a 1.2 months decrease of inventory compared to last year, bringing it to 4.90 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.
Finally, homes in the MSA spent an average of 106 days on the market from active to close during the same time frame, experiencing only 9 days more than in June 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.
June 2020 Statistics – College Station/Bryan MSA – As compared to June 2019 (YOY)
- 446 – Homes sold, 14.1 percent increase YOY
- $226500 – Median price, 2.5 percent increase YOY
- 4.9 months – Monthly housing inventory, 1.2 months decrease YOY
- 106 – Average number of days homes spent on the market, 9 days more YOY
- 1439 – Active listings, 6.8 percent decrease 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.
Contact
For more information or additional comments about this report, please contact Amy DuBose, Bryan-College Station Regional Association of REALTORS® Association Executive, at ae@bcsrealtor.com
About the Bryan-College Station Regional Association of REALTORS®
The Bryan-College Station Regional Association of REALTORS® is a 501(c)6 non-profit membership organization established in 1967. With over 1150 members, the association supports REALTORS® and Affiliates from across six counties including Brazos, Burleson, Grimes, Leon, Madison, and Robertson. For more information, please go to BCSRealtor.com.