El Paso, TX home prices and housing market

In El Paso, the typical home is now worth about two hundred thirty-four thousand dollars, yet homes are taking nearly two months to sell. Here is what that combination means if you are weighing a sale this year. Start with the good news: values are up about 2.6 percent over the past year, so prices here are still moving forward, just slowly. The catch is the pace. There are about two thousand four hundred homes for sale right now, with roughly 780 more hitting the market in a month, so buyers have options and no reason to rush. And the median asking price sits near two hundred seventy-eight thousand dollars, well above the typical home's value, which tells you plenty of sellers are reaching. One number cuts the other way, though. Only about 14 percent of listings have cut their price, so sellers are not panicking, they are waiting. For you, the takeaway is simple. Price near what your home is actually worth, not the aspirational listings around you, and plan for roughly a two month timeline. To see where your home lands, get a free estimate at Home Value Pros dot com.