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Midland currently in record breaking seller's market

The average price of a home sold in March was $356,433
Credit: NewsWest 9

MIDLAND, Texas — The Permian Basin Board of Realtors is reporting record numbers in the months of March and April.

In March the average sale price of the 220 homes sold was $356,433.

In April, a record breaking 248 homes were sold across the city.

These kind of performance number have had the Director of Member Services at the PBBR, Carol Nall, piling through a constant turnover listings.

"Listings may only be in the system a day or two," said Nall.

These kind of numbers are a dream for those selling their homes, while buyers are dealing with stiff competition.

"We have about 297 houses on the market today, and when you're selling 250 homes in a month, that just brings the bearings down," said Nall.

Nall says for any new house on the market, offers tend to pile up quickly.

"Within hours, sometimes minutes, really the second they hit the market," said Nall.

"Those offers are coming from all over the country, it's not just local, its not just people that are already here. It's people that are trying to get here"

Nall say this means buyers are having to adjust their strategy if they want to be successful.

"It's not the day of going out and looking at 20, 30 houses trying to make a decision. The first one you come across that you like you need to be ready to buy," said Nall.

Nall also provided some tips for those looking to purchase a home in the Tall City:

- Get pre-qualified

- Act quickly

- Know exactly what you can afford

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