Local Housing Market Trends

Image from https://www.facebook.com/texasrealtors

The College Station/Bryan housing market saw a drop in home sales last year compared to the year before.

Local realtor Sarah Norman says it’s a tough comparison when 2021 and 2022 were the strongest years she’s seen in her nearly 50 year real estate career.

“It was a pretty strong year, just not quite as strong as what ’22 was. I think a lot of that pertains to where we are with interest rates today,” says Norman.

Norman thinks people are waiting to see what the government does with interest rates, but she advises buyers not to wait.

“Waiting may not be your best option. You probably need to move forward and go ahead and purchase something now while you can, while we still have some inventory,” says Norman.

Norman says inventory is low and their busiest time of year is April through August when the Texas A&M University and Blinn College start hiring new employees and accepting new students for the next school year.

“That’s going to be the time frame that they’re going to come in to buy, so that is why when we have the top of our market as well,” says Norman.

Norman says the median home price in the College Station Bryan market is $302,000, but she expects it to rise to around $345,000 during their busy time of year.

College Station/Bryan market trends according to Texas REALTORS:

  • Median home price was up 4.9% compared to 2022.
  • Home sales were down 14.8% compared to 2022, while listings were up 30% compared to 2022.
  • Price per square foot was up 5.7% compared to 2022.
  • The number of days homes spent on the market increased by 22 days.

Click below to hear Sarah Norman visiting with WTAW’s Chelsea Reber.

Listen to “College Station/Bryan Housing Market Trends” on Spreaker.

Graph from Texas REALTORS 2023 Year in Review Report
Graph from Texas REALTORS 2023 Year in Review Report

More News