SAN ANGELO NEWS

Thursday is going to be the first 100 degree day of the year! This means locals and visitors are going to start heading out to Lake Nasworthy ( did you see the bridge construction project is complete!!) Our small west Texas lake is about to be bombarded with wakeboard boats, tubers, fishing boats, kayaks and many jet skis! A couple years back one of our top Lake Nasworthy agents, Kassie Harper, came up with a map of Lake Nasworthy to show where certain water sports need to stay to keep EVERYONE safe. Public boat ramps are also featured on this map. Please save this map and send it to friends that visit as well. Every year we see horrible accidents on the water.. Let's try to stop that trend this year!! Here is a link to the map

In the market to buy or sell a lake property? Check out the active listings here.. https://bit.ly/3oHxdWg

MARKET REPORT

Spring has sprung! The San Angelo housing market is finally seeing improvement on residential inventory. As of today we have 391 homes for sale in San Angelo only. If  you look at our entire MLS area, we are closer to 500. In the past week we have had 46 closings and still have 200 homes under contract waiting to close. The average price that closed last week was just under 250k. It is also encouraging to see the new construction market picking up. There are currently 57 new homes for sale with another 36 under contract. In the past month, there have been 22 closings take place on new homes! 

San Angelo has 391 active homes for sale as of 4/17/24. Here is a breakdown of price ranges as well as a link to check them out..

Under 100k
100 - 200k
200 - 300k
300 - 400k
400k+

INTEREST RATES

The last week has not been kind to mortgage interest rates. The inflation data that has come out has been higher than expected which has driven up the 10 yr treasury yield. Mortgage rates have ticked up about 0.4% in the past two weeks. Throughout the first three months of the year all the gurus have been saying the Fed should drop the rate at the June meeting. At this point, I believe this June reduction is off the board. August is not looking good either. We may have to wait till the December meeting after presidential election. 

FEATURED BUSINESSES

I am going to start featuring local businesses in future issues of this newsletter. I want to spotlight local companies that our agents, home buyers & sellers work with on a daily basis plus a few extras. If you have a company involved in the real estate business that you would like featured, please reach out with info about your company. info@sanangeloera.com.

- 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 for more money than any other real estate office!

Looking to BUY or SELL in 2024??
Interview ERA for the job 
325-481-0500
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We look forward to working with you now or in the future...