This real estate market has been HOT this year. I have been running from one end of town to the other showing and selling homes priced from $85,000 and up. I knew that Midway ISD, including Woodway, Hewitt and parts of McGregor, was one of the most active areas but Man oh Man. I really didn’t realize how much more active that market was to date. Let me give you some stats to consider. These are the same numbers that I would use if assisting a Seller to determine a good list price so I hope you find them equally useful.
Within the last 95 cumulative days on the market, of the homes priced between $84,900 – $429,000 there have been
- Average List price is $228,967 (Highest is $1,289,000 and Lowest is $84,900)
- Average Sold price is $191,223 (Highest is $574,900 and Lowest is $90,000)
- Average Days on Market is 37
- 243 homes newly listed.
- 82 currently Active and available for offers. That is .337% of the 243 total homes
- 83 homes were listed, Sold and Closed That is .337%
- 2 are BRAND new Temporarily Active listings
- 9 were listed and are now Under Contract with a contingency That is .032%
- 67 were listed and are now Under Contract. That is .0275%
- MISD has 1.54 months of inventory as of September 21, 2015. Anything less than 3 months of inventory indicates that this market is a SELLERS MARKET.
This is a perfect storm in Real Estate World. Inventory is low, which is in the Sellers favor, yet interest rates are also low, which is in the Buyers favor. Now is the time to sell AND buy. I believe that the Midway ISD area will continue to show a strong increase in size and amenities. New restaurants include; Poppa Rollo’s, Raising Canes Chicken Fingers and Fuego Tortilla Grill just to name a few.
If you would like information about the marketability of your neighborhood, feel free to call me. I’m here to help 254-640-7580.