El Paso Real Estate Market Trends
Recently, El Paso was named No. 4 in the hottest real estate markets to watch in 2018 just behind Grand Rapids, Nashville and Raleigh. This is why I Claudia Hargrove wants to tell you why buying a house in El Paso could be your best decision ever.
According to Trulia El Paso Ranked No. 4 for the following reasons:
• Our incredible Tex-Mex Cuisine
• A wealth of locations for outdoors lovers to explore
• A rich downtown artist community
• Farmers Markets
Major employers in El Paso area range from the US military to the University of Texas at El Paso, healthcare corporations to major retailers. The average price of a home here is just $186,611, and it’s a hot market for the social young and single set, the median age is 33, and 24 percent of residents are single.
Compared to the rest of Texas, El Paso real estate market has improved since the housing crash, home prices are up modestly, here are the highlights about how much equity has been gained relative to the year of the homes purchase:
• Homes purchased in the El Paso housing market one year ago have appreciated, on average, by $2,192. The national average was $14,170 over the same period.
• Homes purchased in the El Paso housing market three years ago have appreciated, on average, by $13,935. The national average was $53,857 over the same period.
• Homes purchased in the El Paso housing market five years ago have appreciated, on average, by $20,777. The national average was $48,036 over the same period.
El Paso remains more affordable than most markets in the United States. Trulia has identified the following neighborhoods like the most popular in El Paso for investors:
• Bear Ridge
• High Ridge
• Upper Mesa Hills
• Ranchos Del Sol
Let me help you find your dream house, with 32 years of experience and over $98 million sold, I’m sure I am your best option, schedule an appointment with me today!
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