Killeen-area home sales in January declined by about 50 houses from December, while the median sales price for local houses decreased by more than $5,000 over the past year, a new real estate report shows.
The sales and median price numbers show that buyers continue to have an advantage over sellers in greater Fort Hood market, which stretches from Nolanville to Lampasas and Florence to Gatesville, said Jose Segarra, a spokesman for the Fort Hood Area Association of Realtors. “Right now we are about two months into a buyers market.”
That means it takes about eight months to sell a home that is put up for sale, Segarra said.
“In most markets, there is not that much inventory,” Segarra said. “Our market is not that way.”
According to a report from the association, 1,432 homes were available for sale during January in the Greater Fort Hood market.
December had 208 home sales while January only experienced 160 homes sold, stated the report. The January number was only down two homes compared to January 2013.
Traditionally, December is not a busy time for home sales because everyone is focusing on the holiday, Segarra said.
Two major factors could have contributed to the increased number of sales in December, he said. III Corps soldiers have been returning home from deployments, and builders may have offered better incentives to lower their inventories at the end of the year.
The number of sales generally increases during the summer months, Segarra said.
While there were only two fewer sales in January 2014 than in January 2013, new home starts for the 12-month period ending Jan. 31 were down by about 200 from the previous 12-month period. That is a plus for the seller, because it means builders are responding well to market demand, Segarra said.
During the same period, however, the median home price dropped from $133,900 to $127,500, stated the report.
Such a change could affect people’s ability to profit from selling their homes but also could increase how fast homes are sold in the area, Segarra said.
firstname.lastname@example.org | 254-501-7554
Contact Mason W. Canales at email@example.com or (254) 501-7474