As we head into the Spring season, the market usually picks up quite considerably from the winter months.
If you’re thinking about selling or buying a home, here’s some quick stats that should give you a general idea of where the Waco Real Estate is today:
- There’s currently 1392 residential properties on the market today. A little above average but less than the close gto 1,800 we had last year!
- There’s about a 7.5 month supply of homes on the market right now. Rule of thumb is that less than 5 months of inventory is a seller’s market and more than 7 months is a buyers market, with 5-7 months worth of supply being considered “balanced”
- Currently, there’s 242 (as I’m updating this blog) homes “under contract”. Average asking price is $124,328
- Dating back to the January 1st, 2009 (for sold properties) average asking price was $131,881 and the average sold price was $124,937. That’s almost 94.5% of asking price
- Average days on market for home sold since January 1, 2009 is 177 days. Up from an average day on market of 120 days (a couple of years ago)
Although the market has slowed somewhat in Waco, our real estate market here is doing better than many parts of the country.
Of course if you’d like more detailed statistics regarding the Waco real estate market, give me a call and I’ll be glad to answer any questions you have.