BRYAN, Texas (KBTX) - Local real estate experts say as people continue moving to the Bryan College Station area, they are slowly seeing a lack of supply.
Amy DuBose, Account Executive at Bryan-College Station Association of Realtors, says many people are moving to the area looking for more space and a slower lifestyle following the pandemic.
“Over the last quarter, maybe six months, we’ve seen that we’ve got a significant uptick in the number of homes that are being sold in the area, and we don’t have enough inventory currently to be able to counter that influx of interest," said DuBose. “We do have some new build developments and properties that are coming online, but those have been stalled slightly because the cost of construction has gone up significantly.”
In the month of October, there was a 66% increase in home sales compared to 2019. DuBose adds that because of this recent increase, contracts are closing quickly and advises buyers to be ready when putting in an offer, and sellers to be realistic.
“Being prepared, having all your financing, all your ducks in a row, and making sure that you have everything ready to go so when you make an offer if you can make a serious offer and go full steam ahead,” said DuBose.
DuBose says having Texas A&M University, along with multiple businesses moving to the area, helps bring people in.
Raylene Lewis has worked as a real estate agent in Bryan College Station for more than 19 years. She says although this year started out slow, things have definitely picked up as the year comes to a close.
“The demand is definitely greater than the supply,” said Lewis. “They can’t build houses fast enough right now, for what we’re looking for. It gives us a very strong housing market, which is excellent for our area.”
Lewis adds that many homes are coming in with multiple bids and things are getting a little competitive when trying to buy a house because that supply is so low.
Lewis says local real estate agents are offering virtual home tours for those who might not feel comfortable going in person.
“On your lunch break, you can schedule something. We are getting very good at being able to show you exactly what you want to see without you necessarily having to be here in person,” said Lewis.
Although DuBose says this is more of a seller’s market as of right now, she says there is still something for everyone.
“It’s a very healthy marketplace. We just need some more inventory to get people moved into the area,” said DuBose.
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November 14, 2020 at 10:45AM
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Local real estate experts seeing big drive to move to Brazos Valley - KBTX
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