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SAN ANGELO NEWS
Tom Green County property tax valuations will be sent out next week! Most of you will remember last May when property valuations were the talk of the town. Homes and land values dramatically increased and there was an all time high in tax protests. On May 6th, the Tom Green County Appraisal District will start mailing notices for the majority of properties. You will also be able to go in and look at your new value online on that same day. If your valuation does not increase more than $1000, you will NOT be mailed a notice.
If you want to protest the value of your property, regardless of whether the value increased this year or not, you will have until June 5th to request a review. Last year you could fill the form out online, by mail or in person. Next week I will include instructions on how this can be done. I want to make sure the options are the same!
Our agents at ERA have always tried to help the best we can when our clients are protesting their taxes.. This year we will be able to help even more by being able to provide comparable sales.
Tom Green County Appraisal District
www.tomgreencad.com
MARKET REPORT
April was a great month for home sales in San Angelo. Here are a few stats for residential home sales in San Angelo only. We saw 127 closings in April with an average price of $262,000. These homes average just over $154 per foot and 85 days on the market. March only had 112 closings so it is getting busier in the market. Both the number of active listings and pending sales reached yearly highs in April.
The 250-350k price range is definitely the busiest segment of the market. Homes in that range will still move very quickly. Check out homes for sale in this price range here. https://bit.ly/3JFLqKr
Our local homebuilders saw a good month as well with 23 closing and another 30 homes pending. Here is a list of new homes currently available.. https://bit.ly/4aYOvkP
Looking to move to Bentwood Country Club? There are currently 20 homes for sale in this golf course community with 13 more pending. https://bit.ly/3y2wkMw
Finding a home for under 175k is tough in San Angelo due to demand from first time buyers and investors. We had 25 sales last month under 175k. There are another 59 available, see them here. https://bit.ly/3JFxbFc
San Angelo has 379 active homes for sale as of 5/1/24. 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+
INTEREST RATES
It has now been two years since mortgage interest rates have been above 5%. Home sales definitely slowed after the Covid years and many buyers decided to wait for the market to soften or interest rates to come back down. Here in San Angelo two years of higher rates have not moved values lower. The median and average home price has continued to increase in 2022 and 2023. If you purchased a home in the past couple years you have not been able to refinance like I am sure you hoped but, your home is worth more today. You have gained equity that will come in handy when you are able to refinance.
Today, the Fed will hopefully shed some light on rates for the remainder of the year. They are still predicting three rate drops although many experts are saying this will not happen until 2025 or 2026. No matter what, I will keep you updated with what is actually happening and it affects you, your home and your equity!
FEATURED BUSINESS
Martin Farris is a local Mortgage Broker providing mortgage solutions for all types of purchase, refinance or home equity loans. He is a flat fee lender that can make your dream home a reality.
325-651-2100
Website
Blake and Erica Wilde do it all when it comes to surveying and development issues in the Concho Valley. Check out their website for a list of services.
325-277-8682
website
If you have a company involved in the real estate business that you would like featured, please reach out with info about your company. info@sanangeloera.com.
– Ryan Newlin, Broker & Owner
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!
Looking to BUY or SELL in 2024??
Interview ERA for the job
325-481-0500
See our Agents
Thank you for your time today
We look forward to working with you now or in the future…
