Housing selling quickly, inventory down in B/CS in new housing report

Housing inventory is down to just three month’s worth.
Published: Dec. 11, 2020 at 6:04 PM CST
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BRYAN, Texas (KBTX) - The housing market continues to stay busy in new data released by the Bryan - College Station Regional Association of Realtors.

Inventory is down and homes are selling rather fast in the community with only three months of inventory. That’s compared to five months in November 2019.

”I mean we put 14 duplexes it’s called ‘Dexter Place’, we put it on the market I think it was Sept. 4 and 10 days later we got our first offer,” said Jim Wilson of College Station. He and his wife Phyllis recently sold property in College Station quickly with Extra Mile Real Estate Group.

This month the Wilsons are putting their own home on the market as they downsize.

”We were kind of amazed you know with the pandemic and all that there would be as healthy a real estate market there is. But we were quite pleased and quite surprised with our offers,” Jim said.

“In some ways I think the virus helped the market because a lot of people are you know having worked from home they’re thinking about moving. They have more time to go through and kind of downsizing their home,” said Phyllis.

”I think the biggest thing is if you are either in the buyer’s seat or the seller’s seat is just to be prepared and be ready to go,” said Amy Dubose with the B/CS Regional Association of Realtors.

She says the inventory shortage is presenting challenges.

”We’re at about 25 to 35 percent lower than we were last year but our sales are up 30 to 45 percent and so it’s really hard for the market to be able to balance itself out,” said DuBose.

For the Wilsons, they are optimistic about selling their home.

”I believe we are going to have good luck in selling our home too,” Jim said.

The median price for homes is also up nearly 13 percent at $242,500 according to the College Station - Bryan Housing Report.

For more information on area housing stats, click here.

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