2012 Comprehensive Amarillo Residential Real Estate Market Report

So how did the 2012 real estate market stack up in the Amarillo TX Area? The answer might surprise you!

"The Amarillo area real estate market was up almost 20% from 2010 in total volume and only down 2% from the all time record breaking year in 2006" 

2012 turned out to be a very interesting year in many ways;
  • 2012 London Summer Olympics
  • Facebook Goes Public in the Single Largest IPO Ever
  • International Riots and Terrorist Attacks  
  • The United States Elections 
  • The United States Economy and Unemployment 
  • The Mayan Calendar End of the World
  • Fiscal Cliff USA 
Those are just a few major events in what seemed to be a hectic year. So the question is...how did the local Amarillo area real estate marketplace react to all of it?

Turns out Amarillo did GREAT! 
Based on the number houses sold and at the prices which the homes sold, the total dollar volume was up almost 20% from 2010 and only 2% behind the largest year the Amarillo real estate history back in 2006. The overall inventory levels were also down consistently from 2009, 2010 and 2011. That meant more home sales with shorter times on market and at prices held solid. Amarillo continues to shine in many ways including the local economy, unemployment rates, city wide sales tax, and the real estate market is no different. Amarillo TX has consistently been one of the top real estate markets in the United States during the last 4 years.  

2012 Real Estate At a Glance  
  • Average Sales Price                                     $155,129, up 5.98% from 2011
  • Average Days on Market                            109 Days, Down from 123 in 2011 
  • 2709 Homes Sold                                        284 Homes more than 2011
  • $434,650,440 in Residential Sales         Up $60,571,586 from 2011
  • Year End Inventory Level                         4.2 Months - Now a Sellers Market                     

Now in the start of January 2013 the Amarillo area sits at an inventory level of 4.2 Months, and with that number we are in a Sellers Market! Simply put, inventory is down and demand is up! Even though we are still in the winter season, it is a GREAT time to sell a home based on the inventory level, average sales price and current demand. Home owners can also expect that home values will hold strong with the continued historically low interest levels and strong local Amarillo economy. 

Overall the numbers look great in all the categories. The Amarillo area real estate market is solid and on the climb. Based on what we are seeing in the marketplace numbers, 2013 is looking very promising!

For all the numbers people out there, below you will find some charts and numbers that go into more details. 

2012 VS 2011 

       The last 6 months of Inventory and Sales per price range

Volume Sold 2011 through 2012 with Average List Price VS Average Sold Price 

Current Listings, New Listings and Sold Listings 2011 Through 2012 

2006 VS 2012 Sold and New Listings 

As always for any questions about buying or selling real estate in the Amarillo Area call Professional Realtor Dirk van Reenen with the Caprock Realty Team at Keller Williams.

Dirk van Reenen                806 654 3842     dirk.vanreenen@gmail.com


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