How sizzling is the true property market within the El Paso space? House costs rose 12 months over 12 months

The median gross sales value for a single-family dwelling in El Paso County throughout November was $197,637. That is a rise of 14.1% in contrast with November 2020, in keeping with a USA TODAY Community localized evaluation generated with information from Realtor.com.

The variety of homes bought rose by 4.5% from a 12 months earlier. A complete of 579 homes had been bought countywide throughout the month of November. Throughout the identical interval a 12 months earlier, 554 single-family houses had been bought.

El Paso dwelling costs had been among the many most inexpensive in america within the fourth quarter of 2021 at the same time as costs continued to soar. This dwelling on Crimson Sails Drive in East El Paso was on the market on Feb. 18, 2022.

Actual property gross sales can take weeks or months to be recorded and picked up. That is the newest information made accessible by means of Realtor.com to the USA TODAY Community.

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Condominiums and townhomes bought in November had a median gross sales value of $185,937. That determine represents a 18.1% improve 12 months over 12 months. In El Paso County, 10 had been bought, up 66.7% from a 12 months earlier.

How sizzling is El Paso County’s actual property market in Texas?

Data in your native housing markets is accessible by means of the USA TODAY Community, with extra information from Realtor.com.

The highest 10% of the properties bought had costs of not less than $367,500, up 19.1% from a 12 months earlier than.

In November, no properties bought for $1 million or extra.

Actual property: El Paso dwelling costs amongst lowest in United States at the same time as costs proceed rising

Extra: Texas tax burden is heaviest on El Paso’s poorest residents. Debt will increase that burden.

The median dwelling sale value — the halfway level of all the homes or models bought over a time frame — is used on this report as a substitute of the common dwelling sale value as a result of consultants say the median gives a extra correct view of what is taking place in a market. To find the common value, all costs of houses bought are added after which divided by the variety of houses bought. This measure might be skewed by one low or excessive value.

The USA TODAY Community is publishing localized variations of this story on its information websites throughout the nation, generated with information from Realtor.com. Localized variations are generated for communities the place the info high quality and transaction quantity meets Realtor.com and USA TODAY Community requirements. The story was written by Sean Lahman.

This text initially appeared on El Paso Instances: El Paso County’s common dwelling bought for a better value 12 months over 12 months

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