Housing report

Texas A&M housing report shows home prices rising in Bryan

BRYAN, Texas — If you’re interested in buying a home in the Brazos Valley, you’re in luck, but it may cost you a little more.

It’s simple – supply and demand.

Jaime Stanley, owner and chief development officer of HōM Realty, says there may have been more sales in 2021, but for 2022 it’s a different landscape.

“Supply is down – we have many more buyers than properties for sale, so if you go out on a Saturday and have a visit at 9am you’re going to be in a queue that looks like a sale of garage,” Stanley said. .

According to the First Quarter Quarterly Housing Report by the Texas A&M Real Estate Research Center, the average home price in the Bryan/College Station area rose 13.7% to $269,000+ from the last year.

Stanley attributes why exactly that number continues to rise,

“When you have a house that comes on the market on Friday and it has 14 offers on Saturday morning, those offers keep going up, Stanley said.

With more offers means a higher price increase even if the difference is only one day and takes effect immediately.

“It’s tagged in our appraisal district and is tagged as the price, now appraisers come in and look at all these prices and everything is appraised at that value,” Stanley said.

On average, property listings and completed sales have declined while a typical home will be on the market for an average of 82 days before it even sells – Stanley offers some advice on what to look for when buying of your next home under these circumstances.

“So the biggest advice I have for people entering the market is to do your due diligence to find a good lender, especially someone local and someone who knows the area,” said said Stanley.

Stanley recommends when it comes to lenders and real estate agents – stay local, rather than going to a national chain that isn’t based in Bryan/College Station, and especially when it comes time to buy – get your money ready .

“Make sure you have that money in reserve for the down payment…you may not have the highest bid, but you can win in terms of down payment; that good faith money into a larger sum can often help because it shows that you are invested and dedicated to this property.