BRYAN, Texas — According to the Bryan College Station Regional Association of Realtors, if you compare May 2020 to May 2021, there's been a 76.2% increase in the number of homes sold in the Bryan/College Station area.
The Bryan College Station Regional Association of Realtors Association Executive Amy DuBose said people are used to a more balanced marketplace, slow-paced, but things are speeding up thanks to an increase in demand.
“Sellers are getting caught off guard because they're moving faster than they normally would and it’s creating the leaseback element which means, when you go to sell a house and you're not prepared to move yet, you can lease the property back from the buyers, so there's more of that happening than we've had in the past as well,” DuBose said.
DuBose said they have also seen the investment market shifting as more people sell their investment properties, a difficult situation for renters, DuBose said there is an option to negotiate for you the renter, to stay.
“There’s of course always question marks if you’re renting or if you’re buying. So, doing your research, talking with a realtor, even on the renting side, realtors can help with that,” DuBose said.
DuBose said since the demand is so high and the supply is so low, people are buying houses above the asking price, but DuBose said they’re not seeing a huge balloon effect.
“There’s a fear that we might have a balloon and then it will crash at some point like it did in ’06, ’07 and ’08.”
Is there affordable housing in the Bryan/College Station area?
DuBose says yes, but it’s just not as common as we would want it to be.
“We definitely want more and could definitely use more, but it’s just kind of the way the tide is currently going,” DuBose said.’
DuBose said luckily though, things are staying fairly level as far as pricing goes, but there will always be a need for more moderately price-pointed properties out there.
DuBose said the easiest way to work through either process, buying or selling, Is to work with a local realtor.