Abilene Housing Market Update: What You Need to Know
If you’re thinking about buying or selling a home in Abilene, it’s important to stay up to date on the latest housing market trends. Here’s what you need to know:
Prices and Purchasing Power
Thanks to lower mortgage rates, buyers in Abilene have more purchasing power than they did at the beginning of the year. This has helped drive the median sales price back to levels we saw at the end of 2022. However, prices are expected to remain relatively flat throughout 2023.
Days on Market
As the market returns to a balanced state, we’re seeing an increase in the number of days homes are on the market. If you’re a seller, it’s important to make your home as appealing as possible, both inside and out. This can include cleaning up the yard, staging the inside of your home, or doing a few updates before listing.
Good inflation news has helped mortgage rates pull back this month. While there may be some small fluctuations in rates, they’re expected to remain relatively stable throughout the second quarter. By the end of the year, mortgage rates could drop below 6%.
Spring Selling Season
The spring selling season is in full swing in Abilene, and demand from buyers is high. While the number of homes on the market has increased, so has buyer demand, meaning that conditions are expected to remain relatively unchanged. If you’re thinking about buying or selling, now is the time to act!
Why Choose BHGRE Senter?
With so many options out there, why choose Better Homes and Gardens Real Estate Senter, REALTORS for your real estate needs? Our listings in the last 90 days have sold on average 30% faster than the market average, with sold listings selling at 99.3% of list price. Our advertising packages and experience in pricing homes competitively can help you get the highest profit in the shortest time. Plus, our agents are full-time professionals who are dedicated to guiding you through every step of the buying or selling process.