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 Midland Real Estate Trends 
2021 First Quarter Results
 
The year 2021 is showing great promise to the Midland Real Estate Market with amazing growth and remarkable performance, particularly in the last 30 days. The number of homes sold increased 67.1% from 140 sales in February to 234 this past month.  Another notable statistic is the number of homes in a sale pending status have increased to an all-time high of 441 units, up 26% from last month's strong 350 units.  Interest rates for a 30-year mortgage remains in the historically low 3% range making now an incredibly good time to purchase or sell a home.
 
The Lanier Team has been a trusted and highly successful name in the Midland market since 1969.  As a part of the nation's largest real estate company, Keller Williams, we offer an experienced, energetic and knowledgeable group of both buyer and seller agents that is known and respected nationally, as well as locally. Our experience and knowledge matters. Bring your home buying or selling needs to us and be confident you will be handled with care.
 
We are pleased to provide this information to our friends and clients. Please feel free to share our newsletter with anyone who may need real estate services. 
Market Snapshot
 
30 Yr Mortgage
 
Interest Rates continue to remain at historic lows even though they are up from the all-time low of 2.37% in February. 
There are indications that the Federal Reserve may begin increasing rates as we approach the third
and fourth quarters of 2021, making now a great opportunity to lock in these incredibly low rates.
Housing Under contract
 
As the real estate market demonstrates that it is amazingly healthy, this month's homes
under contract reached an all time high of 441 or a 21% increase over last month's 350 units.
 
COVID's grip on the Midland real estate market subsided within 4 months last year. 
Housing Available
 
The inventory of homes available for sale in Midland have decreased by 30% from
2020's high of 874 to the current 675 homes available for sale.
Average Sales Price
 
The reduced supply of homes for sale and the increased demand has caused an increase in
the average sales price by 5.6% for a home in Midland to $363,754 (year to date). 
Percent Appreciation
 
 An average increase in average sales price of 5.6% demonstrates that the Midland
real estate market is amazing resilient and healthy. 
 
Available by price point
 
The Midland real estate market has seen a strong increase in demand for homes
available for sale in the $300,000 to $600,000 price ranges.
Homes Under contract by Price point
 
The homes in a pending status are showing a significant increase in
demand for homes available in the $250,000 to $500,000 price range.
Days on the market
 
The Days on Market are indicating a very healthy 63 days and should start decreasing
as the more robust second quarter numbers start posting over the next few months. 
Stunning Old Midland home!
Amazing home in coveted Solomon Estates.
Located in a gated community with a pool!
Located in the heart of Old Midland.
1411 Country Club 
$985,000
Spectacular outdoor oasis!
Great investment property!
 Modern farmhouse style barn dominium with glamorous features!
Spacious with a pool in Green Tree Country Club!
antastic 5-bedroom home with tons of space throughout!
Beautiful spacious home with a game room!
Farmhouse style home with museum and park views!
Located in a gated community with a pool & RV storage!
Great location with an open floor plan!
Cute home in Green Tree Country Club!
Spectacular modern farmhouse home!
Gorgeous home with tons of space!
 Beautiful updated all-electric home with an office/hobby room!
Spacious home  close to Mission Dorado Golf Course!
Large lot with a generous amount of space!
Great neighborhood with a half court basketball pad!
Country living close to town with a workshop and room for horses!
Beautifully updated throughout!
Close to Old Midland with a pool!
Family owned on several acres!
Great floor plan with a workshop!
Updated with a 2 story workshop!
Updated and private!
Lock and leave home! Great for a traveler!
Outstanding space with beautiful updates!
Old Midland home with park views!
Charming home close to parks and schools!
Tons of sunshine!
WOW! Bigger than it looks!
Spacious with a fantastic backyard!
Great open concept with two yards!
Private with a park-like feeling!
Museum district with a workshop!
Bright, beautiful and open!
Beautifully updated with an amazing kitchen and family room!
Cute with a movie room or office!
Charming with a large backyard!
Great for the West Texas traveler with a shop!
Centrally located with a spacious backyard!
Investor Special!
Updated townhouse with pool views!
Gorgeous, remodeled low maintenance home in a desirable neighborhood!
Huge home on 3.9 +/- acres with pool & shop!
*** The information above has been obtained from the Permian Basin Board of Realtors Multiple Listing Service (and other sources) and is deemed accurate but not guaranteed. Permian Basin Board of Realtors MLS Information - Copyright 2011 - All Rights Reserved
 
 
Lanier & Co. @ Keller Williams • PO Box 2291 • Midland, TX 79702
http://billlanier.com
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