Happy Valentines Day - Plus some Real Estate News!!

I spent some time this morning reaching out to local restaurants to see if they still had dinner availability this evening. All the places below had availability or did not write back. Remember, when you shop locally your sales tax dollars stay in San Angelo! Eating local and buying gifts locally helps everyone in San Angelo! Click links for their FB Page.

The Grill
Peasant Village
Cork & Pig Tavern
Angry Cactus
Napoli's
The Wharf
Urban Salt
Zero One

MARKET REPORT

The residential real estate market is seeing an uptick in activity. The pent-up demand from slow sales in 2023 has more homes going under contract over the past week. There are currently 178 homes under contract in San Angelo which is around 30 more than last week. Many of these are only on the MLS for 1-2 weeks before getting an acceptable offer. Sometimes even more than one! Last week I mentioned that the majority of under-contract homes were priced below 300k. While looking through the pending list this morning I saw four homes in the 600's, five in the 500's and 15 in the 400's. There are also 23 new homes under contract ranging from 195k to 699k. Click the following link for a list of all available new homes for sale in San Angelo... New Homes for Sale

Pulling stats from San Angelo as a whole is fun but I enjoy looking into specific neighborhoods and price ranges. In the coming weeks, I will focus on this. Feel free to shoot me a request if you would like anything specific. [email protected] or [email protected]

INTEREST RATES

Economic data from Tuesday morning was not good for interest rates but that was somewhat to be expected. The CPI (consumer price index) numbers came in high and sent the stock market lower and treasury yields higher immediately. I happened to be at my computer when these numbers came out and it was a little deflating! After reading more, a lot of this was forecasted and was not a shock to many. It looks as if we are going to not get significant interest rate drops until late summer 2024. As always, this changes daily so I will continue to monitor and keep this newsletter updated. 

-Janet Ridgway, REALTOR® Home & Land Group

- Samantha Tarr, REALTOR® Home & Land Group

                   

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