Update for Saginaw, Texas, Residential Real Estate Sales for May 2020
Last month individuals sold 30 homes in Saginaw in May. Last year in May 43 homes sold in Saginaw, but May sales this year reflect homes that went under contract during the time of “Shelter in Place”. Considering the circumstances of last month, the sales were good, but not compared with last year’s sales. Sales remained steady, especially for less expensive homes, because of lack of supply[CW1] to meet demand. Today there are only 15 houses actively on the market for less than $230,000 in Saginaw, and we agents have clients who are eager to buy them.
The homes ranged in sold price from $309,900 to $167,000. The most expensive home was one of the two homes that had an inground pool. The other home with a pool sold for $288,000. The average sales price for a home was $232,942. Seven homes sold for less than $200,000, and nine homes sold for prices between $200,000 and $228,000. The most expensive 14 homes sold for more than $234,000.
Sellers received an average of 99.53% of their list price. This average has changed little in many months. Sometimes the seller must reduce the original asking price, but when the price is right for a Saginaw home, the home will sell close to the list price. The lowest percentage that a seller received was 94.22% of list price, which has been typical of the lowest price sellers accepted for several years.
Surprisingly, the houses were on the market an average of 26 days this May, the exact number of days they were on the market in May of 2019. Last month 16 houses sold in less than two weeks, and the longest time on the market for a home priced less than $230,000 was three weeks. When the prices jumped up to $250,000, the time on the market increased to over 40 days for many homes.
The new construction in Saginaw and in Fort Worth surrounding Saginaw directly effects sales of preowned homes. The new construction in Saginaw listed in our MLS ranges in price from $275,000 to $313,000, but builders have new construction in Fort Worth in the Eagle Mt.-Saginaw ISD starting as low as $209,900. Houses competing with homes for sale in Saginaw include 25 new homes for $242,000 or less.
We continue to have a strong real estate market here. Please let me be of service to you as you move forward with buying or selling. Call me, text me or e-mail to learn what I can do for you.
– Kathleen Wheeler –