Author

Shelly Salas

In Central Texas, staying updated on local real estate trends is crucial for both buyers and sellers making important decisions. Each month, we review the latest data on home sales across key areas like Bell and Coryell counties, focusing on cities such as Harker Heights, Copperas Cove, and Killeen. This update provides valuable insights into the market’s movements, helping you understand what’s happening and how it could affect your next move.

From January to September 2024, Bell County saw a nearly 9% decline in residential sales compared to the same period in 2023, with over 3,600 homes sold. The market faced significant drops in May and June—25% and 20%, respectively—creating challenges for sellers. As inventory rises and buyer demand fluctuates, sellers should avoid overpricing or poor presentation, as homes may stay unsold longer. For buyers, this means more homes available and less competition.

In cities like Harker Heights and Killeen, early 2024 was slower, with Harker Heights seeing a 22% drop and Killeen an 18% decline in sales. Harker Heights experienced a dramatic 50% drop by April, while Killeen saw a 12% increase. By June, both cities saw sales declines—21% in Harker Heights and 26% in Killeen. However, Harker Heights saw a positive shift in September with a 7% increase, while Killeen continued to decline by 14%.

Coryell County experienced a steeper decline than Bell County, with an 18% drop in sales in January and a 31% decrease by June. Sellers here must adjust expectations and price realistically. However, buyers benefit from increased inventory and less pressure to rush into a purchase. Copperas Cove stands out, with a 24% increase in sales in January, fueled by improvements in local infrastructure and businesses. Though sales dropped 12% by June, Copperas Cove’s momentum shows the market’s potential for positive shifts even in a broader downturn.

Many buyers are waiting for interest rates to drop, but there are still opportunities for those ready to buy now. While rates are higher than in previous years, the market has shifted. With fewer active buyers, competition has eased, and sellers—especially those needing to move quickly—are more willing to negotiate.

Today, buyers have more leverage. You can ask sellers to cover repairs, pay for closing costs, or negotiate a better price. Though rates may not be ideal, there are more options and better deals available.

Once rates decrease, you can refinance at a lower rate, potentially reducing your monthly payments. Buying now lets you secure a home, negotiate favorable terms, and handle repairs on your terms. It’s a win-win: take advantage of the buyer’s market now, and refinance later.

In conclusion, understanding the latest market trends in Central Texas is essential for both buyers and sellers aiming to make informed decisions. As inventory increases and buyer demand fluctuates, opportunities for buyers are rising, especially in areas like Bell and Coryell counties. Sellers must be strategic, pricing homes realistically and ensuring their properties are presented well. With more options available and less competition, buyers can take advantage of the current market conditions to secure better deals and negotiate favorable terms. Stay informed, work with an experienced agent, and seize the right opportunities at the right time to make the most of the market.