Realtors in the 10-county regional market sold the most homes in May since June 2018, according to a report from the Longview Area Association of Realtors.
Realtors sold 331 homes in May, up about 12.2 percent from 295 homes a year ago. May also marked the busiest month since a seven-year record of 341 homes sold was set in June 2018.
The average sale price also increased about 2.2 percent to $198,138 from $193,930 a year ago, according to association data.
Homes also stayed on the market 103 days in May, down 9.6 percent from 114 a year ago.
“We are increasingly optimistic and energized by the strength of our local real estate economy,” Julie Woods, broker of Julie Woods & Associates Real Estate Firm, said in a statement. “We continue to experience a strong sellers’ market, which means that we have more buyers than we have inventory. This is equating to houses selling for higher prices as buyers are having to present more competitive offers in order to secure them.”
Real estate agent Willie Faulkner of Exp Realty Longview agreed with Woods.
He said sales have been picking up since March or April, with homes priced less than $200,000 going quickly. He said he had two offers in three days for a house he listed a week ago at $149,000.
“I think it is just based on our income,” he said, explaining why it is a competitive price range. He added some homeowners are selling their houses because they are moving into a higher price range.
The median sale price within Longview ZIP codes was $177,700 in May, up 11.9 percent from $158,800 in May 2018. Homes within the price range of $100,000 to $199,999 accounted for 52.3 percent of all sales in May, followed by 23.3 percent for homes selling at $200,000 to $299,999 and 11.6 percent for homes going for less than $100,000.
Realtors also sold 91 homes in May in Longview ZIP codes, down 8.1 percent from 99 a year ago.
Active listings within the Longview ZIP codes totaled 380 in May, down 14 percent from 442 a year ago.
Homes stayed on the market an average of 120 days in the Longview ZIP codes in this May and in May 2018. Months of inventory totaled 5.1 in May, down from 5.8 a year ago.
The Realtors association’s data is based on its multiple listing service, which represents about 85 percent of total sales in the market. It does not capture sales by owners or some sales of new construction by builders.