Despite the lockdowns and negative news, real estate numbers are soaring both nationally and here locally in the McAllen-Mission-Edinburg, Tri-City area. The housing market remained one of the strongest components of the local economies despite city officials urging locals to stay home.
The most telling numbers are Median Days on Market and Total Homes Sold. Nationally, total homes sold rose 22%, compared to this same time last year; while median days on market dropped down to only 28 days, surprisingly a whopping 37% decrease from this same time last year. Locally, homes are selling just as fast and price per square foot has increased to $103.00. Overall, Border housing sales accelerated 8.3 percent in September, on top of an upward revision to the prior month’s reading, bringing quarterly growth to 39.2 percent.
Nationally the median sold price increased to $336,000, up 14% from this same time last year. Locally, annual home-price appreciation accelerated, bolstered by shrinking inventory during record sales activity. The metric in McAllen posted solid annual gains, rising to $177,900, respectively.
Houses are selling extremely fast and in many cases selling for more than the asking price. If you are looking to sell your home, this is the time to do so. Not to boast but our team has sold numerous properties throughout the years in 45 days or less but never have we had back to back, to back properties, go under contract and close in 45 days or less, like we have this year.
Please, feel free to contact us, so we can help you sell your home, for the most money, in the shortest period of time.
Incredible points. Sound arguments. Keep up the good work. Carl Iveans