By David Tuma, The Belton Journal
Temple home sales increased 17 percent to 113 home sales in July, and Belton home sales increased 125 percent to 27 home sales, according to the July 2015 housing market report released earlier this week by the Temple-Belton Board of REALTORS®.
“We knew the 2015 summer selling season was going to be competitive for the I-35 corridor with both home sales and prices reaching double-digit growth,” Margo Wyatt, 2015 President of the Temple-Belton Board of REALTORS®, said. “With the summer halfway over, home buyers and sellers are encouraged to work with their local Temple-Belton REALTOR® to make sure the process goes as smoothly as possible.”
According to the report, the median price for Temple homes increased 9 percent year-over-year to $143,523, while the median price for Belton homes rose 54 percent to $165,500 during the same time frame.
In July 2015, the monthly housing inventory in Temple was 5.5 months, a 0.1 month increase from July 2014, while housing inventory in Belton decreased 0.8 months to 4.8 months. The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.
Homes in Temple spent an average of 65 days on the market in July 2015, 2 days more than July 2014. In Belton, homes spent an average of 44 days on the market during the same time frame, 81 days less than July 2014.
Additionally, active listings in Temple increased 3 percent year-over-year to 468 listings in July 2015, while those in Belton decreased 18 percent year-over-year to 78 listings during the same time frame.