Which is better? Paisano’s Steak Tips or ERA’s Real Estate Tips

SATURDAY OPEN HOUSES THIS WEEK  VIEW THIS WEEKS OPEN HOUSES

SAN ANGELO NEWS

One of San Angelo’s favorite Mexican food restaurants is expanding to Sherwood Way June 1st. Paisanos will soon be occupying the old Heff’s Burgers location at 2902 Sherwood Way and everyone I talk to is ready. For years you have had to plan your trip to Paisanos to enjoy their Thursday steak tips. If you get there too close to noon, you could find yourself parking half a mile away or standing in a long line just to get a seat. This stretch of Sherwood way now features some of the best tex-mex in town! 

I wanted to follow up on a couple issues from previous newsletters… San Angelo Gives Day appears to be a success. I looked at their site this morning and they raised over 4 million dollars for at least 76 local charities. Way to go San Angelo!

The Tom Green County Appraisal District has mailed values (if your value went up at least $1000 from the 2023 value) and updated their websites. I did a quick scan and it appears many homes stayed the same or dropped in value. I did, however, see a few homes go way up in value. Land values appear more realistic as well.  If you are interested in protesting your value make sure to get your information to the tax office before June 5. If you need help, completing your protest application, we can help you here at ERA Newlin and Company. 

Tom Green County Appraisal District
www.tomgreencad.com

MARKET REPORT

The May housing market is off to a great start. In the past seven days we have had 100 new listings, 50 closed sales and another 47 go under contract. Our total active listings in San Angelo are right at 400 which is getting closer to a normal Summer inventory level. Average sale prices are still hovering around 260k. Although most of the homes that have gone under contract are in that 260 range, we have seen 6 homes go pending that were priced over 450k.

The rental home market is strong right now as well. Generally, there are 75-100 rentals available on the MLS at any given time. Right now we only have 36 available. There are only four listed under $1000/month and the average is around $1500/month. Our office manages over 400 properties and we are currently getting multiple applications on homes that become available. If you are interested in purchasing an investment home or looking for professional management services, reach out today. See available rentals here.

San Angelo has 397 active homes for sale as of 5/7/24. 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

Jerome Powell calmed the mortgage industry down last week by saying that he does not foresee the Fed interest rate going up anytime soon. He also mentioned that we could still be in line for one or more reductions this year. The market reacted well to this and rates have dropped since. The 10 yr treasury rate continues to decline which mortgage rates typically follow! From today till the middle of next week should be a great time to lock in a rate before more inflation data is dropped on the 15th. Those numbers should give a better indication on what rates we will see in June! 

– 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!

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