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Current Market

With the latest release of June's real estate market data, we can gain valuable insights into the current state of the Bryan/College Station (BCS) real estate market. BCS continues to be a seller's market, reflecting the high demand for homes in the area. The 'Median Days on Market' has slightly decreased to 22 days, indicating that homes are selling rapidly. Additionally, homes are selling close to their listing price, with the List to Sold Price ratio increasing to 98.7%. These indicators point to a robust market where buyers are eager to secure properties quickly and at competitive prices.

Since September 2010, Brazos County has seen a 202% increase in estimated property value, according to the Realtors Property Resource (RPR).

Future Projections

As we look ahead, the gradual cooling of the inflationary gap and easing mortgage rates will likely sustain the high demand for housing in the Brazos Valley. More motivated buyers are expected to enter the market and seek opportunities in BCS. However, the current inventory remains a challenge, which refers to the number of months it would take to sell all the homes on the market at the current sales pace, which still needs to be solved. With only 4.05 months of inventory available (a 6.86% increase month over month), more is required to meet the rising demand. This shortage gives an advantage to those who list their homes now, as the competition among buyers remains strong.

Recommendation

This is a crucial time for homeowners considering selling to take advantage of the current market conditions. As more buyers enter the market later in the year and inventory increases, listing prices may become more competitive and decrease. Therefore, listing your home now could result in a more favorable selling price and quicker sale, offering a promising outlook for potential sellers.

Are you wondering how much your home is worth in today's market? Contact me today and receive a FREE, no-obligation home value estimation!

Authored by: Jacob J. Bush