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Midland Real Estate Trends
2021 Year End Review
Midland’s Real Estate Market showed amazing strength in 2021 by setting multiple all-time records, as well as great stability indicated by a sustainable price appreciation rate.
Here are a few highlights from the charts and information contained below:
- 2021 set a record for the highest average sales price at $355,680, which surpassed the previous record of $345,828 in 2019.
- The total number of homes sold was 2,747 in 2021, well above the previous record high of 2,577 in 2019.
- Appreciation remained a stable 3.3% and indicates a balanced and sustainable real estate market for Midland’s future.
- There were four consecutive months of record-breaking homes under contract in 2021 (April-July).
- July 2021 set the all-time record for the number of homes sold in a single month for the Midland Real Estate Market.
- Interest rates remained in the historically low range of 2.5% to 3% for the first eleven months of 2021. While interest rates have recently moved above 3% they remain at historical lows and still make homeownership very affordable.
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 are 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.
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- 2021 set a record for the highest average sales price of $355,680 surpassing the previous record of $345,828 in 2019.
- The total number of homes sold was 2,747 in 2021, well above the previous record high of 2,577 in 2019.
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- Midland set a new record high average sales price of $355,680 in 2021.
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- The sales price appreciation of 3.3% during 2021 is a great indicator of a balanced and sustainable real estate market.
- The red line is an overlay of yearly oil prices average for the corresponding year.
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The Days on Market of 50 is an indicator of a solid and stable real estate market.
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New home construction permits have remained stable for the past 3 years.
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While interest rates have moved above 3% we are still at a historically low rate that makes homeownership very affordable.
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The available inventory of homes for sale in 2021 remained stable during 2021.
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April through July 2021 were four consecutive record setting months of homes in an under contract status.
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July 2021 was the all-time record number of homes sold in a single month for the Midland Real Estate Market.
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The most abundant number of homes for sale were in the $200,000 to $400,000 price range.
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2021 saw a significant increase in demand for most price increments.
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The most prominent increase in home sales was seen in the $300,000 to $350,000 price range during 2021.
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 | 4501 Green Tree Blvd
$895,000
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 | 1306 W Illinois Ave.
$750,000
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 | 5606 Dunbarton Oaks
$480,000
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 | 4908 Heather Rd.
$450,000
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 | 3805 South County Road 1184
$419,900
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 | 3718 Roadrunner Trail
$412,000
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 | 4809 Yearwood Dr.
$389,900
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 | 5111 East State Hwy 158
$389,900
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 | 2512 Keswick Cove
$375,000
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 | 1505 San Francisco
$365,000
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 | 1321 Terra Court
$350,000
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 | 2602 Cimmaron Ave.
$335,000
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 | 5715 Llano Court
$335,000
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 | 2320 Shadybrook Rd.
$335,000
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 | 7201 East County Road 60
$325,000
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 | 6702 Victory Pkwy.
$319,900
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 | 806 Dimaggio Ct.
$279,500
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 | 1107 Porterfield
$275,000
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 | 111 North C Street
$275,000
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 | 1404 East Pecan Ave.
$255,000
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 | 4517 Pasadena Dr.
$235,000
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 | 2100 W. Wadley # 19
$219,000
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 | 306 S. Bentwood Dr.
$209,900
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 | 3513 W. Michigan Ave.
$200,000
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 | 4728 W. Cuthbert Ave.
$180,000
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 | 4713 Harvard Ave.
Lease for $1,900/ month
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