family in front of large houseIf you’re about to start looking for your next home in El Paso, you might want to take a few minutes to familiarize yourself with the local housing market. Likewise, if you plan to sell a home in the near future, you should be aware of what homes are typically going for in your hometown. Below, we’ve laid out some real estate data that should give you an idea of what the El Paso market is like.

Remember, this information contains time-sensitive data that could change without notice. Contact a professional real estate agent in the area for the most accurate market information.

El Paso Real Estate Update

Estimated Median Home Value: $110,300
Change since last year: -0.9%

Average listing price: $189,399
Change since previous week: (no reported change)

Median sales price: $111,250
Change since last year: +16.2%

Average price per square foot: $67
Change since last year: +1.5%

Homes currently for sale: 3,915

Foreclosures: 732

Most popular neighborhoods: Union Plaza, Eastview, Kohlberg, High Ridge, Valley Creek North

Summary: The median sales price for homes in El Paso have seen positive growth since 2011. Gaing more than 16%, this change reflects the nation’s overall improvements in higher home values and more economically strong home prices. Although the estimated median home value for El Paso dropped slightly since last year, according to Zillow.com, it actually increased +1.6% on a quarter-over-quarter basis and +0.4% on a month-over-month basis. While there are still hundreds of foreclosures left on the market, they represent only about one fifth of the total number of homes currently for sale.

If you’re interested in buying your next home in El Paso, be sure to contact Kelly Decker for your mortgage needs. From fixed rate home loans to FHA programs, Kelly Decker and his team can help you secure affordable El Paso home financing. Call (972) 591-3097 today to learn more.