So…how’s the Real Estate Market in Palestine, Texas we head into the second quarter of the year? 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:
2018 vs. 2019 Historical Real Estate Market Comparisons
Check out the differences in the same 30-day segment of this same 30-day period a year ago vs. today. Highlights include:
That’s a lot of numbers, but what does this all mean?!
As of today, the market absorption rate is 5.66. 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 5 months to exhaust the property inventory in Palestine, Texas. An absorption rate between 3-6 months is generally considered a balanced market. Overall, there is a shortage of properties for sale and demand is high for move-in ready properties. Happy housing, yall!
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 3-12-19 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