We have several friends who are looking to buy in the 1500-1800 sq foot range and pay 160,000 to 190,000 in the south College Station area. Houses of this size and for this price point are selling like mad! Apparently these houses are selling in one day with multiple, above-asking price offers. What's fueling this?
My thought is that local builders are building a glut of larger homes and many, many people don't want to pay +200,000 for a huge house they don't need, which leaves these buyers with limited options. Heck, we weren't even looking to sell, but we may have to consider it if we can get so much more than we could a couple of years ago.
The house across the street sold a couple of months ago for almost 190,000, and it's barely 1600 sq. feet and very plain. It's had renters living in it almost exclusively for five years. I've never seen the market take off like this.
My thought is that local builders are building a glut of larger homes and many, many people don't want to pay +200,000 for a huge house they don't need, which leaves these buyers with limited options. Heck, we weren't even looking to sell, but we may have to consider it if we can get so much more than we could a couple of years ago.
The house across the street sold a couple of months ago for almost 190,000, and it's barely 1600 sq. feet and very plain. It's had renters living in it almost exclusively for five years. I've never seen the market take off like this.