How’s the Market? – November 2018 Real Estate Report
So…how’s the Real Estate Market in Palestine, Texas? Let’s see what the numbers show, shall we?
In the last 30 days, the Palestine Texas Association of REALTORS® MLS had the following activity:
Check out the differences in the same 30-day segment of this same 30-day period a year ago vs. today. Highlights include:
As of today, the market absorption rate is 3.5. What on earth does that mean?! It means that if no other properties were listed for sale in Palestine, TX, it would take a little over 3.5 months to exhaust the housing inventory in Palestine, Texas. An absorption rate between 3-6 months is generally considered a balanced market, but the market is favoring sellers since inventory levels are low. Lower inventory is normal for this time of year, but the overall housing inventory is lower than it has been during the same time periods for the last two years. The market is always shifting and watching the data is a great way to keep an eye on the market trends. Happy shopping!
UNFORTUNATELY REQUIRED DISCLAIMER: This data was compiled from Palestine Area Association of REALTORS® Multiple Listing Service by Lisa Priest, Broker with Picket Fence Realty for informational purposes only. Please note that this data is for residential properties in Anderson county only. This data is current as of 11-15-18 and is not a warranty of future market conditions of any kind. This information is deemed reliable but not guaranteed.
Lisa Priest loves to watch the trends and is a Palestine, Texas Real Estate Broker / REALTOR® with Picket Fence Realty, Inc. You can reach her via phone or text at 903-948-3343 or read more at BuyPalestine.com.