Highest priced homes lose marketshare to low and mid priced homes
February 14, 2010
El Paso’s market is the only market in Texas to have posted positive home sales consistently throughout 2009. When reviewing final price distributions for 2009, it’s clear low and middle priced homes increased not only in share, but also number. Homes above $250,000 lost marketshare. Two categories between $300,000 and $499,999 had double digit loses.
| Price Range | Percent Distribution | # of Sales | |||
| 2008 | 2009 | 2008 | 2009 | Change | |
| $29,999 or less | 0.1 | 0.3 | 5 | 16 | 237.31% |
| 30,000 - 39,999 | 0.3 | 0.4 | 14 | 21 | 49.92% |
| 40,000 - 49,999 | 0.6 | 0.5 | 29 | 27 | -6.30% |
| 50,000 - 59,999 | 1.2 | 1.3 | 57 | 70 | 21.81% |
| 60,000 - 69,999 | 1.7 | 2.3 | 81 | 124 | 52.12% |
| 70,000 - 79,999 | 4.1 | 4.2 | 196 | 226 | 15.18% |
| 80,000 - 89,999 | 6.8 | 5.7 | 325 | 306 | -5.75% |
| 90,000 - 99,999 | 8.1 | 7.6 | 387 | 408 | 5.50% |
| Under 100k | 22.9 | 22.3 | 1,094 | 1,198 | 9.49% |
| 100k - 119,999 | 15.8 | 17.9 | 755 | 961 | 27.38% |
| 120k - 139,999 | 15.5 | 16.8 | 740 | 902 | 21.87% |
| 140k - 159,999 | 10.3 | 11.4 | 492 | 612 | 24.45% |
| 100k - 160k | 41.6 | 46.1 | 1,987 | 2,476 | 24.60% |
| 160k - 179,999 | 8.8 | 8 | 420 | 430 | 2.22% |
| 180k - 199,999 | 5.7 | 5.4 | 272 | 290 | 6.52% |
| 200k - 249,999 | 9 | 9.1 | 430 | 489 | 13.69% |
| 250k - 299,999 | 5.1 | 4.2 | 244 | 226 | -7.40% |
| 300k - 399,999 | 4.3 | 2.9 | 205 | 156 | -24.17% |
| 400k - 499,999 | 1.4 | 1 | 67 | 54 | -19.69% |
| 500k and more | 1.2 | 1 | 57 | 54 | -6.30% |
The greatest increase came in the under $29,999 category, which shows 237 percent increase, even though this is only the difference of 11 homes. About half of the categories with positive increases have double digit increases.
El Paso leads Texas with percentage increase in sales, but prices are terrible
February 2, 2010
Sales in December 2009 are up 22 percent from 363 to 444 in El Paso. This market is remarkable as they are even up 23 percent from 2007’s 362 sales. El Paso is the only big market in Texas to show this type of growth.
| Year | Month | House Sales | 1 Yr Change | 2 Yr Change | Average Home Price | % Price Change | Median Home Price | % 1 Yr Change | Active Listings | % 1 Yr Change | Months of Inventory |
| 2007 | Dec | 362 | 153,600 | 133,500 | 4,625 | 12.776 | |||||
| 2008 | Jan | 299 | -0.39 | 158,700 | 0.11 | 133,200 | 0.07 | 4,254 | 0.67 | 14.227 | |
| 2008 | Feb | 328 | -0.35 | 162,800 | 0.08 | 133,800 | 0.08 | 4,374 | 0.57 | 13.335 | |
| 2008 | Mar | 419 | -0.32 | 157,900 | 0.02 | 128,700 | 0 | 4,714 | 2.71 | 11.25 | |
| 2008 | Apr | 292 | -0.55 | 152,400 | 0.01 | 126,700 | -0.01 | 4,840 | 0.49 | 16.575 | |
| 2008 | May | 429 | -0.33 | 164,200 | 0.08 | 137,800 | 0.06 | 5,155 | 0.63 | 12.016 | |
| 2008 | Jun | 487 | -0.2 | 168,800 | 0.01 | 142,800 | 0.03 | 5,127 | 0.43 | 10.527 | |
| 2008 | Jul | 502 | -0.12 | 161,700 | 0.01 | 138,500 | 0.03 | 5,012 | 0.32 | 9.984 | |
| 2008 | Aug | 433 | -0.22 | 160,500 | -0.03 | 133,300 | -0.04 | 5,085 | 0.31 | 11.743 | |
| 2008 | Sep | 449 | 0.1 | 159,400 | 0.02 | 134,300 | -0.01 | 5,096 | 0.27 | 11.349 | |
| 2008 | Oct | 413 | -0.06 | 158,500 | 0.01 | 130,500 | 0 | 5,040 | 0.16 | 12.203 | |
| 2008 | Nov | 362 | -0.06 | 156,100 | -0.06 | 132,800 | -0.01 | 4,773 | 0.11 | 13.185 | |
| 2008 | Dec | 363 | 0 | 159,900 | 0.04 | 136,300 | 0.02 | 4,454 | -0.04 | 12.269 | |
| 2009 | Jan | 304 | 0.02 | -0.38 | 157,700 | -0.01 | 126,900 | -0.05 | 4,499 | 0.06 | 14.799 |
| 2009 | Feb | 326 | -0.01 | -0.35 | 152,600 | -0.06 | 130,900 | -0.02 | 4,530 | 0.04 | 13.895 |
| 2009 | Mar | 435 | 0.04 | -0.29 | 154,500 | -0.02 | 133,500 | 0.04 | 4,578 | -0.03 | 10.524 |
| 2009 | Apr | 381 | 0.3 | -0.41 | 155,500 | 0.02 | 128,100 | 0.01 | 3,982 | -0.18 | 10.451 |
| 2009 | May | 440 | 0.03 | -0.31 | 148,700 | -0.09 | 126,800 | -0.08 | 3,940 | -0.24 | 8.954 |
| 2009 | Jun | 481 | -0.01 | -0.21 | 156,300 | -0.07 | 134,500 | -0.06 | 3,749 | -0.27 | 7.794 |
| 2009 | Jul | 478 | -0.05 | -0.17 | 157,100 | -0.03 | 135,200 | -0.02 | 3,704 | -0.26 | 7.748 |
| 2009 | Aug | 485 | 0.12 | -0.12 | 150,100 | -0.06 | 129,600 | -0.03 | 3,681 | -0.28 | 7.589 |
| 2009 | Sep | 485 | 0.08 | 0.19 | 151,200 | -0.05 | 130,000 | -0.03 | 3,610 | -0.29 | 7.443 |
| 2009 | Oct | 541 | 0.31 | 0.23 | 149,200 | -0.06 | 131,000 | 0 | 3,580 | -0.29 | 6.617 |
| 2009 | Nov | 570 | 0.57 | 0.47 | 147,800 | -0.05 | 131,900 | -0.01 | 3,549 | -0.26 | 6.226 |
| 2009 | Dec | 444 | 0.22 | 0.23 | 154,200 | -0.04 | 135,000 | -0.01 | - | -1 | 0 |
| Year | Month | House Sales | 1 Yr Change | 2 Yr Change | Average Home Price | % Price Change | Median Home Price | % 1 Yr Change | Active Listings | % 1 Yr Change | Months of Inventory |
Prices, on the other hand, continue to lag suggesting there are a lot of sales in the low end of the market. The average home sale’s price was $154,200 in December 2009, which is a 4 percent drop from $159,900 in December 2008. Additionally, it is the eighth month in a row with a negative yearly change. The median home price was 1 percent lower than its 2008 counterpart dropping to $135,000 from $136,300. It is also the eighth month with a decline.