It’s no secret that the real estate market is booming here in the Permian Basin. So, what’s the average price of a home here these days? And is it a good time to buy or sell?
Victoria Printz is a real estate agent in Midland. “The average price of a home in Midland, Texas right now is about $367,000. Of course, we have homes much higher,” said Printz.
She’s been a real estate agent for 25 years. “We don’t have too much below $200,000 right now,” said Printz. She owns a real estate company in Midland with a team of 15 people. “Today, we have about 300 homes on the market. A balanced market in Midland, not being in the buyers or sellers benefit, would be about a thousand. So, we’re drastically in the sellers favor and we have been for the last three years.
Of course, the oil boom is the reason real estate is booming. “Midland is the hometown of many entrepreneurs, self made, self made folks. As you know, that’s what makes this town special,” said Printz.
What makes us special is now driving up the prices of homes here in the Permain Basin. As for what the future holds? only time will tell. Printz says many people anticipate this real estate market to continue, Either way, she says we’re definately at a peak.
Meanwhile, Printz also has an incredible story of her own. We’ll be sharing that tomorrow right here on Fox 24 News.