Palestine TX Real Estate Market Report– October 2016
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 3.4. Whatever does that mean?! It means that if no other properties were listed for sale in Palestine, TX, it would take 3.4 months to deplete the housing inventory in Palestine, Texas. An absorption rate between 3-6 months is generally considered a balanced market. We are in a fairly balanced market with a trend favoring sellers. There is less inventory this month but an increase of 29 days on market over last month.
Will the pendulum swing towards buyers or sellers next month? The market is always changing and watching the statistical data is a great way to keep an eye on the trends. As always, we will see what next month’s data has in store. Happy Housing!
Compare Last Month’s Report Here
UNFORTUNATELY REQUIRED DISCLAIMER: This data was compiled from Palestine Area Association of REALTORS® Multiple Listing Service by Lisa Priest, Agent with Picket Fence Realty for informational purposes only. Please note that this data does not include commercial properties or unimproved acreage and includes properties with a 75801 or 75803 zip code only. This data is current as of 10-13-16 and is not a warranty of future market conditions of any kind. This information is deemed reliable but not guaranteed.
Lisa E. 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