Homes are still selling in Amarillo. Granted, the climate for home sales is rapidly changing and we're beginning to see a bit of a price softening here now.
As you know, Amarillo is historically immune to the wild swings in value fluctuations and has long been isolated from the economic losses that many parts of the country have experienced. That's part of the beauty of living in Amarillo, Texas.
Home sales patterns have changed! 1. Upper end homes (above $200,000) have all but died! By that I mean the sales in that price range have slowed significantly. That doesn't mean they won't sell, but it simply means that if you're trying to sell a home in that range, it may take a little longer to sell and it may have to be sold at a discount. 2. Mid range homes have kept pace and are doing well even though we are seeing a softening in prices which could be resulting from lower appraisals due to an increase in foreclosures and short sales. 3. Starter homes (up to $100,000) are still doing well and prices are holding firm. Even though there are still some foreclosures and short sales in this range, prices seem to be holding steady.
Pricing the home correctly is so important in this current market. Remember that the buyer pool has decreased significantly so pricing properly is crucial!
Buying or selling? We have buyer agents and seller agents! We know Amarillo and we want to help you understand and get comfortable BEFORE you buy or sell! Get the facts! That's what we're here for!
Call for appointment. 806-433-6889
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