Killeen-Ft Hood Area Home Prices Down Slightly

The Texas Association of REALTORS® has just released the Texas Quarterly Housing Report for the second quarter of 2011 which reflects what's going on in 47 of the state's markets. This latest report shows that while recent real estate prices indicate strength in the Texas market as a whole, the Killeen-Ft Hood market has not fared as well.

The median price of homes in the Killeen-Ft Hood market was $121,800, 2.71% lower than the same quarter of 2010. Statewide the median price was $150,400, 1% higher than the same quarter on 2010.  The average price of homes in the Killeen-Ft Hood area in 2011-Q2 was $126,780, 5.36% lower than 2010-Q2 versus Texas as a whole which had an average price of $201,288, or 4.6% higher than the second quarter of 2010.

The decrease in the average price of Killeen-Ft Hood, Texas homes seems to indicates more activity among lower priced homes. This interest in lower priced homes includes many investors buying foreclosed and distressed properties at below market value. Investors are returning to real estate as a preferred investment vehicle due to instability in other investments, such as stocks and bonds. 

Another important market indicator is the inventory of homes available for sale compared with the demand to

buy homes. The Killeen-Ft Hood area had 7.1 months of inventory in the second quarter of 2011 compared to 6.9 months in Q2-2010. Statewide, Texas had 8.1 month of inventory in the second quarter of 2011 versus 7.2 months of inventory in the second quarter of 2010.  A market with 6 to 9 months of inventory is considered to be in balance.

To find out more about the Killeen-Ft Hood real estate market or for information on how you can take advantage of these great home prices, please visit http://www.overallrealtor.com/ or call me today at 254-394-6637.