Washington County home values and listing prices have moved down compared with a year ago. The typical home value is about $297,600, with the median list price roughly 6% lower year over year. Active listings are also down more than 16% from last May, signaling fewer homes available than a year ago.
Looking at the most recent month, May’s median list price of about $321,500 also dropped sharply from April, while the typical home value slipped more than 9% month over month. Even with softer prices, homes are taking much longer to sell than a year ago, with median days on market at 79, and months of supply up to 5.6, more than double last year’s level.
Sales activity shows a mixed picture, as homes sold in May jumped 32% from April, yet remain down about 29% compared with last year, and new listings and pending sales are both off by more than 30% year over year. Only about 6% of homes sold above list price and the average sale-to-list ratio sits near 96%, suggesting buyers may have a bit more room to negotiate than in some other parts of Texas, where the median sale price is higher and inventory slightly tighter. With Washington County currently tilted toward a buyer’s market, both buyers and sellers can benefit from Agent Pronto’s help in finding an agent who understands how to navigate these conditions.
