Amarillo home sales down; Home Prices Remain at $165,000

Compared to the same quarter last year, Amarillo home sales decreased 5.0 percent to 897 single-family home sales, while median price was remained unchanged year-over-year at $165,000 according to the 2017-Q3 Texas Quarterly Housing Report.

Statewide, Texas home sales volume decreased 0.3 percent to 91,401 home sales, while median price increased 5.6 percent from the year prior to $225,000. 

“As anticipated, the aftermath of Hurricane Harvey has had a significant impact on our state’s housing market this fall, as many Texans were forced to postpone their goals of buying or selling a home in order to deal with devastation in their homes and communities,” said Vicki Fullerton, chairman of the Texas Association of Realtors. “Declines in local market home sales across the state in the third quarter were largely concentrated in regions impacted by Harvey, including the Houston area and local markets along the Texas coast.” 

In the third quarter of 2017, Texas home sales volume declined 0.3 percent year-over-year to 91,401 home sales. The median price for Texas homes increased 5.6 percent in the same time frame to $225,000.

The price distribution of Texas homes sold in the third quarter of 2017 showed that less than half, or 44.5 percent, of the homes sold during this time frame were priced under $150,000, or the price threshold that the Real Estate Center at Texas A&M University cites as affordable for entry-level Texas homebuyers. This is a decrease of 0.7 percentage points from 2016-Q3.


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