Palestine, Texas Real Estate Market Recap: 4th Quarter 2024

Palestine, Texas Real Estate Market Recap: 4th Quarter 2024

As 2024 comes to a close, it’s time to take a closer look at how the Palestine, TX real estate market performed in the 4th quarter. Whether you’re a homeowner, investor, or potential buyer, understanding the latest market trends can help you make informed decisions in the coming year.

Key Market Statistics for Q4 2024

Here’s a snapshot of the Palestine real estate market for October 1st through December 31st 2024:

• Median Sold Price: $209,000
• Average Days on Market (DOM) of homes sold: 102
• Total Homes Sold in 4th Quarter: 76
• Average Price Per Square Foot: $133.43
• Inventory Levels (Months of Supply) are increasing!

Trends We Noticed in Q4 2024

1. Price Stability or Growth:
   Did we see a rise in home prices, or did the market stabilize compared to Q3? The market slowed in the 4th Quarter over the 3rd quarter and price per square foot dropped from $147.32 average in Q3 to $133.43 average
2. Buyer Demand:
   Was buyer activity strong despite the season? Buyer demand slowed in the 4th Quarter of 2024, which is typical for the time of year.  Days on market increased by an average of 16 days in the 4th quarter compared to Q3.
3. New Listings vs. Sold Listings:
   Comparing the number of new listings to the number of sold homes.: are we in a buyer’s market or a seller’s market? We are in a buyer’s market, inventory is increasing and days on market are increasing with seller concessions more common as time goes on.

What This Means for 2025

The Q4 data provides a great starting point for predicting how the 2025 real estate market in Palestine might shape up. Whether you’re planning to buy, sell, or invest, understanding these trends is key. We will be watching the trends in the coming months to see how the spring market will be looking.

Ready to Make Your Move in 2025?

If you’re thinking about buying or selling real estate in Palestine, Texas, contact us today at office # 903-729-7530. Stay tuned to our blog for more updates, tips, and market insights!