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 Midland Real Estate Trends 
2021 Second Quarter Results
 
Real estate in Midland continues to be an extremely safe investment for what most people call their single largest asset.  This year's average sales price of $355,828 is a 3.3% increase from 2020's $344,308. Demand during the second quarter of this year has been exceptionally high with 409 homes currently in a pending status.  The previous record was in June of 2019 with 401 houses under contract.  The inventory of homes available has remained between 650-750 units this year, which is a much healthier range than the Midland Market has seen in the past few years.  As the data below illustrates, the Midland real estate market continues to show phenomenal growth and an amazing amount of stability.
 
 
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

 
Interest rates have remained at historic lows and are still below 3% which has
fueled both our local real estate market as well as most of the nation. 

 
The homes available for sale seems to have found a well-balanced range in the 650 to 750 unit range so far this year.  

  
The number of homes in a sale pending status has remained in record territory and
well above the previous high of 401 in June 2019.  

   
The 295 homes sold in June is well above the previous
record high of 262 in July 2020.

 
 

  
The average sales price increase above last year is
a sustainable, solid, and healthy 3.3%. 

 
The average marketing time of 56 days is healthy and well within the norms
of the of a balanced real estate market. 

  
The welcomed increase in inventory available for sale has been most predominate in
the $200,000 to $400,000.  This is the range that has been hugely under supplied in the
past several years. 

 
   

  
 The number of homes sold is showing incredible stability in most all price ranges! 

  
The months' supply of homes at 2.4 months is well below the 6.1 earlier this year
and shows a trend towards a seller's market.  
Stunning Old Midland home!
Custom built home in exclusive Texland Estates!
2305 Texland Circle
$1,285,000
Amazing home in coveted Solomon Estates.
"Old Midland" home.
2003 Stanolind
$995,000
Spectacular home in Green Tree Country Club!
4501 Green Tree Blvd
$950,000
Located in a gated community with a pool!
Spectacular outdoor oasis!
Great investment property!
Great location for your new office!
1306 W Illinois Ave. 
$750,000
 Modern farmhouse style barn dominium with glamorous features!
Spacious with a pool in Green Tree Country Club!
Amazing remodeled home with a pool!
808 Canonero
$647,500
Fantastic 5-bedroom home with tons of space throughout!
Spacious with a great floor plan!
5700 Ridgemont Pl. 
$585,000
Gorgeous home in desirable Mockingbird Heights!
4101 Baybrook Dr. 
$565,000
Build your dream home with room for livestock!
2908 E Loop 250
$550,000
Beautiful spacious home with a game room!
Well-maintained home with gorgeous features!
4614 Woodhollow
$525,000
Spacious family home with six bedrooms!
5405 Heartland 
$519,900
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!
Great floor plan with a pool size yard!
5313 Ridgefield Ct. 
$485,000
Cute home in Green Tree Country Club!
Great location for a business or dream home!
2920 E Loop 250 
$450,000
Spectacular modern farmhouse home!
Gorgeous home with tons of space!
 Beautiful updated all-electric home with an office/hobby room!
Gorgeous updated home with a pool!
3902 Westminister
$399,500
Great location with a pool!
4008 Godfrey 
$393,000
Spacious home  close to Mission Dorado Golf Course!
Great location in a family friendly neighborhood!
2503 Humble Ave. 
$389,900
Large lot with a generous amount of space!
Spacious home close to the neighborhood pool, tennis courts and clubhouse!
1808 Castleford
$375,000
Great neighborhood with a half court basketball pad!
Country living close to town with a workshop and room for horses!
Fantastic home with a large game room!
2410 Metz Pl.
$369,000
Beautifully updated throughout!
Great home with large rooms and an office!
2505 Metz Pl.
$360,000
Private low-maintenance living!
1021 Ward St. 
$357,000
Close to Old Midland with a pool!
Spectacular home with a pool on a large lot!
1705 Brand Lane
$349,900
Family owned on several acres!
Great floor plan with a workshop!
"Old Midland" home close to downtown!
111 North C Street
$339,500
Private and spacious!
1008 Neely Ave. 
$325,000
Outstanding space with beautiful updates!
Immaculate home with a workshop!
5101 King Richards Row
$300,000
Build your dream home in this desirable neighborhood!
6200 Dunbarton Oaks
$295,000
Private, roomy, and there is a backyard!
2818 Northtown  Pl.
$285,000
WOW! Bigger than it looks!
Unique floor plan with two offices!
1417 Sparks
$275,000
Stunning remodel!
3312 W Shandon Ave. 
$269,000
Beautiful updated home with an open floor plan!
3513 Baumann Ave.
$265,000
Beautiful home in an upcoming neighborhood!
6707 Vanguard 
$259,900
Museum district with a workshop!
Great lots for building a new home or two!
913 and 915 San Jacinto 
$250,000
Beautifully updated with an amazing kitchen and family room!
Updated home on a HUGE lot!
3406 Douglas Ave. 
$225,000
Roomy family home with a studio or workshop!
3618 W Michigan Ave. 
$225,000
Cute with a movie room or office!
Newer home close to downtown!
600 S. Benton 
$210,000
Huge lot with workshop and beautiful yard!
1209 W Washington 
$150,000
Large bonus room and backyard!
3806 Pleasant Dr. 
$145,000
Updated townhouse with pool views!
Investor Special!
*** 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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