Real Estate Blog - What's going on in the Waco Real Estate Market Wendy?

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What's going on in the Waco Real Estate Market Wendy?

For an overall view of the Waco and other Texas markets, you might like to visit The Real Estate Center Website for the latest residential MLS data. http://recenter.tamu.edu/data/datahs.html . For Waco, specifically, http://recenter.tamu.edu/data/hs/hs540b.htm.

According to The Real Estate Center,the latest April stats show Waco still in a buyers market with 8 months of inventory. We are not alone with the average in Texas 7.1 months.

In addition, average sales have taken a dip since last year, but median price has risen very slightly.

These figures are similar to many other Texas cities where they've seen similar declines.

Is this all bad news? Well I think it depends on how you look at it. Yes, some of this is a mess, just as our overall economy is a mess. But seeing our median prices in Waco at a nearly identical figure this year can't be a bad thing.

I think we will be seeing some similar stats in May with a decline in sales and perhaps a slight increase in median sales price in comparison to sales of May 08. And I am encouraged with what seems to be an increase in activity over these past few weeks. Time will tell where this all takes the Waco Real Estate market, but I feel that all things considered, Waco is still doing relatively well.

1^STTIME HOMEBUYERS, NOW IS A GREAT TIME FOR YOU TO BUY. BUYERS MARKET, LOW INTEREST RATES AND A FANTASTIC TAX INCENTIVE THAT COULD GET YOU UP TO $8000. WHY WOULD YOU WAIT?

NOTE: Information given on this blog post and its comments from other participants cannot be guaranteed. Use at your own risk.

FOR MORE INFORMATION ON Waco Homes For Sale visit www.WendyMontoya.com

Posted by Wendy Montoya, Associate Broker REALTOR® Waco, TX Real Estate, 254-315-4906 on 06/06/2009 03:20 PM

Comments (2)

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2 Comments on What's going on in the Waco Real Estate Market Wendy?

JUN

All good information, I am sure you will be happy to know that your prediction for May was off. We actually sold more homes in May than we did in April with a slight increase in sales price. Now mind you this is all based on residential sales only. Great information, thanks, but just wanted you to know that May was much better than April. Feel free to visit www.mymarketreports.com to see the graphs.

Have a good one!

Hey Guys--Thanks for dropping by and taking the time to comment.

As far as May figures go, my comparison was to that of last year in May, not a comparison to April of this year. Just as the Real Estate Center April figures were in comparison of those in April of last year.

Yes, you are correct when you state that May sales are better than April figures of this year. But as your graph shows and my post notes, when compared to last year, sales are down. My figures are based also on our residential market from The Real Estate Center figures and our local MLS.

I've gone back and re-worded my post to make that more clear by adding "in comparison to sales of May 08". I do appreciate you letting me know that I needed to better clarify that. I am sure if you read it that way then others would too.

The best news of all though is that all things considered, Waco is still doing well.

Thanks again, and see you around! Wendy :)

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