Metropolitan Statistical Area (MSA):
Levelland, TX is a Metropolitan Statistical Area (MSA) comprising counties including .
There is no doubt that the Levelland, TX metropolitan statistical area (MSA) is a hotbed for real estate activity. The combination of strong job growth, low interest rates, and limited new construction has resulted in a sellers’ market in which prices are rising and homes are selling quickly.
If you’re thinking of buying a home in the Levelland MSA, it’s important to be aware of these trends so you can make the best decision for your situation. Here’s what you need to know about the current state of the housing market in Levelland:
Prices are on the rise – According to data from the MLS, the median sales price of homes in Levelland increased by 8% in 2017 compared to 2016. This trend is expected to continue in 2018 as demand remains high and inventory remains tight.
Homes are selling quickly – The average days on market (the number of days from when a home is listed until it goes under contract) has decreased significantly over the past year. In December 2017, homes were selling in an average of just 33 days! This means that if you find a home you love, you need to be prepared to move quickly.
There is more competition for homes – With prices rising and homes selling fast, buyers are facing more competition than ever before. In many cases, multiple offers are becoming common, so it’s important to be prepared with your financing lined up and your offer as strong as possible if you want to win bidding wars.