San Angelo Farmer's Market, interest rates and other real estate news

Dated: June 19 2024

Views: 70

SAN ANGELO NEWS

Concho Valley Farmers MArket

The Concho Valley Farmers Market had their grand opening last weekend and it is packed with vendors! If you have never been, it is worth a trip to stock up on some local groceries. It is a great way to support small local farmers, ranchers and about everything in between. You can bet if it is being offered it is in season and tastes great. Check out their FB Page! 


MARKET REPORT & INTEREST RATES

If you read this report last week you will remember that inflation data was positive as I was posting. The trend has continued this week and we have seen lower interest rates. The 10yr treasury yield continues to decline as well. There is no exact timetable for the Fed to reduce the interest rate that banks borrow money from but it is looking like there could be a reduction before the election in November. We had several FHA buyers approved for 5.99% and even lower this week from local lenders. 

Home buyers are taking advantage of this rate and we have seen a busy week for San Angelo real Estate sales. ERA agents are having good luck with off-market sales and new construction as well. There are over 60 new homes available on the MLS. But looking at inventory from the 20 builders that we represent, there is way more than that right now! Many builders do not want to market their homes on MLS until they are close to completion. 

The rental market is still pretty tight. There are 43 available rental properties on MLS. Prices are still up and vacant homes go pretty quick! 

There are 449 homes for sale in town plus another 180 under contract. Here is a breakdown of price ranges as well as a link to check them out.

Under 100k
100 - 200k
200 - 300k
300 - 400k
400k+


Feel free to share this newsletter with anyone who may be interested! 


ERA Newlin & Company is San Angelo's premier real estate brokerage and we have been helping folks buy and sell since 2003. Since 2018, we have sold more homes for more money than any other real estate office!

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Kim Kelley

Whether you are looking to buy or sell, I would like to make the process as pleasant and stress free as possible. As a San Angelo native, I am knowledgable about neighborhoods, schools, and opportuni....

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