"In December, El Paso experienced an impressive surge in its active listing count, reaching 2,355 properties. This represented a substantial year-over-year growth of 15.7%, well ahead of the national inventory growth rate of 12.1%. With 562 newly listed homes, marking a 17.6% increase from the previous year, sellers showcased their enthusiasm to join the market. This robust influx of new listings, combined with the rise in active listings, underscored a unique opportunity for sellers to capture buyer interest."
"El Paso's median listing price in December stood at $299,950, reflecting a consistent year-over-year increase of 2.9%, bucking the national trend of a 0.6% decline. This steady price appreciation, despite the expanding inventory, highlighted the market's resilience and balanced demand. Though there was a 9.5% share of price reductions, up slightly by 0.4 percentage points from the previous year, sellers demonstrated adaptability in aligning expectations with market conditions."
"Homes in El Paso spent a median of 87 days on the market in December, marking an 18.5% increase compared to the previous year. This duration was notably longer than the national median of 73 days, which also experienced a 5.0% increase. The extended time on market in El Paso signaled a strategic window for sellers to engage with discerning buyers, while the rising inventory suggested a nuanced shift in market dynamics."
El Paso's active listings reached 2,355 in December, a 15.7% year-over-year increase versus a 12.1% national gain. December saw 562 newly listed homes, a 17.6% increase from the previous year, contributing to the inventory surge. The median listing price was $299,950, a 2.9% year-over-year increase compared with a 0.6% national decline, indicating steady appreciation. A 9.5% share of listings experienced price reductions, up 0.4 percentage points, while homes spent a median of 87 days on market, up 18.5% year-over-year. The combination of rising inventory and longer market times created strategic selling opportunities amid balanced demand.
Read at SFGATE
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