El Paso market holds steady
March 28, 2009
El Paso had 326 sales in February 2009. This is up from January and pretty consistent with February 2008; it is technically down .6 percent. El Paso had major losses from August 2007 to August 2008, so they may have already hit bottom. Sales are obviously down from 2007, down 35.2 percent in fact, but there is very little left to loose.
The average home price of $152,600 is $5100 less than last month and down 6.3 percent from February 2008. The median price is $130,900 was 2.2 percent less than February 2008. The mean and median prices are very close; however, there are some high price homes dragging up the average price.
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