Real Estate Market Report– February 2017
Another month has come and gone and we are sailing off into 2017. So…how’s the Real Estate Market in Palestine, Texas? Let’s take a peek at the numbers, 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 8.66. Whatever does that mean?! It means that if no other properties were listed for sale in Palestine, TX, it would take 8.66 months to deplete the housing inventory in Palestine, Texas. An absorption rate between 3-6 months is generally considered a balanced market. We have firmly shifted into a balanced market. There is more inventory this month as compared to last month, but properties selling 15 days faster.
Will the pendulum swing towards a balanced market as we head into spring? The market is always changing and watching the data is a great way to keep an eye on the market shifts. As always, we will see what next month’s data has in store. Happy Housing!
See last month’s report here
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 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 2-17-17 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