Amarillo, TX housing market

In Amarillo, the typical home is worth about one hundred seventy-five thousand dollars, yet sellers are listing closer to two hundred fifty-three thousand dollars. That gap tells you a lot about how this market actually works, and it matters if you plan to sell this year. Start with the good news. The typical Amarillo home value is up about 4.4 percent over the past year, so prices are still climbing, not falling. There are about 650 homes for sale, with roughly 300 new listings coming on, so buyers have choices but the market is not flooded. But here is the catch. Homes are taking about 50 days to sell, and nearly 17 percent of listings have already cut their price. Sellers are reaching well above what homes are actually worth, and buyers are pushing back. So if you sell, price near what your home is truly worth, not near the highest listing you have seen. A realistic price in Amarillo still gets a sale. An ambitious one earns you two months on the market and a price cut. For a free estimate of what your Amarillo home is worth, visit Home Value Pros dot com.