2018 Bryan/College Station Real Estate Recap
Article & Photos | Jen Zweiacker + Zweiacker & Associates Real Estate
It has been a very interesting year for real estate in the Brazos Valley and throughout the nation. We continue to be in a balanced market and appear to be following a national trend towards a buyer’s market.
Although the market does appear to be shifting, there is no cause for great concern. Corrections occur regularly in the real estate market and are necessary (especially in areas with unsustainable appreciation) in order to keep housing prices affordable.
As we reflect back on the local real estate market of 2018 and look forward towards 2019, it is important to also review the trends of the last few years. Understanding the ebb and flow of inventory and demand help to illustrate the cyclical nature of residential real estate.
The total number of homes sold over the last 5 years has remained remarkably consistent with 3,123 homes sold in 2014, 3,340 homes sold in 2015 (the peak of the seller’s market), 3,181 homes sold in 2016, 3,186 homes sold in 2017, and 3,177 homes sold in 2018. While the total number of homes sold has remained consistent, the number of homes listed for sale has been steadily increasing over the course of the last 5 years. In 2014, 4,075 homes listed for sale. The number continued to rise over the next 4 years with 4,284 listed in 2015, 4,494 listed in 2016, 4,857 listed in 2017, and 4,973 homes listed for sale in 2018.
We’ve seen total inventory in the market fall from over 1,400 homes listed for sale in early 2013 to less than 800 homes in early 2016. In the time from early 2016 to summer of 2018, inventory increased to over 1,300 available properties. That number is now just over 1,100 homes actively listed for sale.
What can home sellers expect to see in 2019? The main adjustment for most people selling homes is that homes that once sold within days or weeks (sometimes with multiple offers) are now seeing more days on the market.
With increasing inventory and steady demand, the market continues to be a healthy, balanced market. There are many opportunities for first-time home buyers and sellers that are moving into larger or higher-priced homes.
In a balanced market, everyone wins! We’re looking forward to seeing what 2019 has in store for our thriving community.
Jen Zweiacker is a Realtor with
Zweiacker & Associates Real Estate in College Station.
Call her at (979)450-0455 or visit www.zarealestate.com for more information.