The media loves to talk about how difficult the housing market is currently and how prices are going down. Because of B/CS's location we don't see many of the shifts that affect the market. We always have students coming in, many of whom have parents that see the sense in purchasing for their 4-5 year typical stay. We always have students leaving, selling that second home that brought them excellent value increases as well as rental income. Professors and support staff as well as school administration are frequently taking jobs at other schools as well.
May of 2007 gave Bryan and College Station a total of 305 sales. May is statistically significant because it tends to be our month with the highest amount of closings. This is due to A&M's school year and the fact that our family market likes to move right after school gets out or just before it begins again. This overlap between A&M's heavy real estate market and the family market gets properties moving. May of 2007 showed properties as expensive as $750,000 being sold and properties as modest as a student condo for $35,000 being sold.
May of 2006 was slightly more active with a total of 313 sales. These ranged from $645,000 down to $41,500. This shows only a .33 percent difference in 2006 and 2007 and that prices are not being affected.
May of 2005 showed only 230 units sold. These ranged from $775,000 down to $29,000.
Obviously our market is very different than the "typical" market out there!
When exploring your real estate options don't necessarily listen to the media. Find a Realtor that you trust and rely on their expertise to guide you through the maze. Keep in mind that the agent needs to be a productive agent (May of 2007 I sold 12 units out of the 305 units sold and there are over 400 active agents in Bryan/College Station) and still have enough time to get to know you and your needs. Happy househunting!!!!
Comments(0)