Bryan College Station Real Estate February Single Family Market Report 2009

February 2009

2009 2008

# Listings in Inventory 1, 188 1, 351

Down - 12.1%

# Closed Sales 91 132

Down - 31.1%

Average Sales Price $172,928 $169,261

Up - 2.2%

# Volume $15,736,430 $22,342,476

Down - 29.6%

Days on Market 130 126

So what is really going on in the Bryan/College Station real estate market? The numbers don't look good but what you see above is the effect of the fear in the market in November, December and January with the elections, stock market decline and horrible national news. We are in a bubbled community but we still see some of the effects of the national news.

So what is going on right now? It depends! We are seeing the higher priced homes being reduced to get them sold. We are seeing the homes in the $120 - $150K in College Station that are in good condition and good areas, selling right away. Right now we have more buyers than we have good properties to sell.

Financing is a little more of a struggle than it was a year ago BUT THERE IS MORTGAGE MONEY AVAILABLE! Buyers need decent credit and they need a small down payment but that can come in the form of a gift until the $8,000 tax credit is received!

The last 2 weeks we have seen the stock market begin back up, the phones ringing, buyers buying and sellers selling.... I vote we don't listen to the national news anymore! Real estate is LOCAL and NOW is the time to move up to a nicer home!

College Station Real Estate Market Trends