El Paso, TX—10/7/24—The Greater El Paso Association of REALTORS® (GEPAR) reports continued stability in the local real estate market. Key indicators highlight the strength and resilience of El Paso's housing sector for September 2024.
The median home sales price rose by 3.1% year-over-year to $265,000, reflecting ongoing appreciation in property values. While closed sales decreased slightly by 0.2%, totaling 631 transactions, this minor dip is countered by strong seller activity and growing inventory.
New listings surged by 15.7%, with 1,010 homes hitting the market in September. This increase reflects sustained seller confidence and presents more opportunities for buyers. Active inventory also saw a 4.0% rise, now at 2,558 listings, fostering a more dynamic and competitive real estate environment.
Additionally, the median days on the market remained favorable, with homes typically selling in 25 days, an 8.7% increase from last year. This pace continues to benefit buyers and sellers, ensuring a quick turnaround. The median sold price per square foot rose 3.3% to $157, further emphasizing the ongoing demand for quality homes in the region.
"El Paso’s real estate market continues to thrive, providing a balanced and attractive environment for both homeowners and investors," said Shy Rodriguez, President of GEPAR.
For more details on the El Paso real estate market or to connect with an experienced REALTOR®, visit elpasotx.com or contact 915-783-6079.About the Greater El Paso Association of REALTORS® (GEPAR)
GEPAR is a leading voice and advocate for the real estate industry in El Paso, dedicated to providing outstanding service to its members and upholding the highest standards of ethics and professionalism.