November 2023: A Dive into Neighborhood Trends

In this November update, we’ll explore the overall market conditions and delve into the specifics of various neighborhoods.

Overall Market Overview

Inflation and Interest Rates:

Here’s some good news! Inflation is cooling and the 10-year Treasury yield has experienced a notable descent. While the final destination of interest rates remains uncertain, historical patterns suggest that mortgage rates tend to follow a downward trajectory when the 10-year Treasury is on the decline. Simultaneously, the stock market often sees an upward trend during such periods.

San Angelo Snapshot:

Despite fluctuations on a national scale, the San Angelo real estate market continues to thrive. Houses are changing hands daily, with a current inventory of 342 homes for sale, 134 under contract, and 334 closed transactions in the last three months. Although these figures represent a slight decrease from the typical numbers—400-500 homes for sale, 200 under contract, and 450 closed deals—the market remains active and resilient.

Neighborhood Breakdown

College Hills:

26 homes for sale
22 under contract
55 closed transactions

Santa Rita:

28 homes for sale
8 under contract
31 closed transactions

Area C (Including the Country Club and Butler Farms):

23 homes for sale
10 under contract
21 closed transactions

The Bluffs:

16 homes for sale
8 under contract
10 closed transactions

Southland (Including several areas with new construction):

53 homes for sale
24 under contract
54 closed transactions

Area F (North of Houston Harte):

36 homes for sale
7 under contract
27 closed transactions

Goodfellow Area:

18 homes for sale
6 under contract
27 closed transactions

PaulAnn (With some new construction):

9 homes for sale
3 under contract
8 closed transactions

Lakeview:

46 homes for sale
10 under contract
31 closed transactions

Lake Nasworthy (Including Las Lomas):

10 homes for sale
5 under contract
9 closed transactions

Grape Creek:

41 homes for sale
12 under contract
33 closed transactions

Wall:

22 homes for sale
6 under contract
5 closed transactions

Christoval:

6 homes for sale
2 under contract
17 closed transactions

Looking Ahead

While the market may be experiencing a slight dip in activity, San Angelo remains a robust and diverse real estate landscape. Whether you’re interested in College Hills, Santa Rita, or any other neighborhood, understanding these trends can guide your decision-making process. If you seek more detailed information on average prices or wish to receive notifications about new listings in specific areas or price ranges, don’t hesitate to reach out. The San Angelo real estate market is alive with possibilities, and we’re here to help you navigate it successfully.