SAN ANGELO NEWS

The San Angelo Central Girls Basketball team has won the first District Title in over 20 years! They were co-champions with Frenship but have one the coin toss for 1st place. The Lady Cats will play El Paso Franklin in Andrews on Tuesday the 13th. Congrats to the team, coaches and the entire athletic program! 

MARKET REPORT

Now that we are through January, I wanted to give an update on how the San Angelo real estate market performed. For these stats, I am only going to be discussing residential homes in San Angelo. I am not using land, commercial or any sales from the outlying areas. I have these numbers and can provide them down the road in the weekly newsletters! 

So the good news is that more homes sold in January 2024 than in January 2023. Last January mortgage interest rates were lower than they are today and we sold 71 homes for 19 million in volume. This year there were 73 closing for 18 million. I think this gives somewhat of an indication that it is getting busier and we could be on track for a bounce back year. If you compare these two months to January 2022, we are still way down to the tune of 40 sales and 10 million in volume.

In the past week we have added for sale inventory and added pending sales. Forty properties went under contract  w/ Option in the past 7 days. Thirty of these were priced under 300k so that is still the busiest price range. 

Pulling stats from San Angelo as a whole is fun but I really enjoy looking into specific neighborhoods and price ranges. In the coming weeks I will focus on this. Feel free to shoot me a request if you would like anything specific. ryan@sanangeloera.com

Here is a link to show what properties are hitting the market now! 

INTEREST RATES

If you read last week's newsletter I stated that it didn't look like the Fed Rate would drop in March. Well, on Sunday night our Fed Chairman went on 60 Minutes and said exactly that. This increased the interest rates on Friday and Monday but they bounced back and dropped on Tuesday. This is still as good a time to take out a home loan than it has been in several months. With available homes increasing, I am still seeing closing costs and interest rate buydowns being offered by sellers. One good option right now is ARM loans. Adjustable Rate Mortgages were popular a decade ago and just like wallpaper, they are making a comeback! Let us get you in contact with a quality lender that can explain options that may fit for you.. 

- Ryan Newlin, Broker & Owner

ERA Newlin & Company is San Angelo's premier real estate brokerage and we have been helping folks buy and sell since 2003. Since 2018, we have sold more homes than any other real estate office every year.

Looking to BUY or SELL in 2024
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