what is the average price per square foot in Midland Texas and is it a good time to buy a home there?

Asked by Jason, Tue Feb 5, 2008

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Jl, , Midland 6, Midland, TX
Sun May 23, 2010
I agree w/ Amy. The housing market appears to be overpriced compared to the economic downturn Midland is experiencing today. Apartment and home rentals are still high, but am starting to see some give. Young, novice, educated people can not afford decent housing in this area. Hoping to see a change soon. My daughter would like to purchase first time home, but I advised her to wait a little longer to see if she can get any better deals. Seeing numberous (40-50 currently) foreclosures. Unlike boom days when there were none. of course, the more desirable areas remain quiet pricey. Houses that sold for approx. $100,000 in 2002 w/ 1800-2500 sq ft, are listing more or less for double. I sold a home in 1998 in North Midland for $54,000 (1600sq ft). Currently, a house down the street from that one is listing for $164000. Good luck.
1 vote
Economic downturn….are you kidding???
Flag Wed Aug 6, 2014
Drew Wegman, Home Seller, Big Spring, TX
Thu Sep 26, 2013
Median listing price is around $250,000 at this point. Price have risen recently and are continuing to rise with demand being very high right now.
0 votes
Amy, Home Buyer, Midland, TX
Fri Jan 22, 2010
Interesting how almost all realtors always say "now is the time to buy," even at or near the peak of the market. Would the most honest realtor step forward and say when it is NOT the time to buy? Then again, if no one buys there is no commission. I thought there were ethics as part of real estate licensing. What am I missing here?

My guess is that as the bubble continues unwinding and more adjustable rate mortgages reset higher, this will make it harder for those that already bought to hold onto their homes, sending more supply into the market as they get foreclosed. This increased supply of course lowers the price of housing stock. Not to mention what happens to housing prices once interest rates in general go up as the Fed raises rates. This too will make housing less affordable and put further downward pressure on housing. So maybe we bottom a few years from now. So for a BUYERS perspective it would seem 2012 or after might be the "best time" to buy. For a realtor, naturally the best time to buy is NOW so the realtor can get their commission today - not postpone it years down the road when it would save the buyer tens of thousands. Furthermore, assuming the commission is at a fixed rate, say 3-6%, its in the realtors interest to get buyers to pay more for a house today than for the buyer to pay less after housing bottoms as this would also cut the base amount from which the realtors commission is calculated.

If I am wrong on this, educate me.
0 votes
Scott Alexan…, Agent, San Angelo, TX
Thu Jan 8, 2009
Jason, I am not certain what the average price per square foot is in Midland, but I know a realtor who will. I think now would be a great time to buy. The market is a bit flat, and that would indicate that sellers will do what is necessary to sell a house--lower the price. Feel free to get in touch with me and I connect you with an outstanding agent in Midland. She sold my father's house, and I have a great deal of confidence in her. Good luck.
0 votes
Bill Eckler, Agent, Venice, FL
Thu Jan 8, 2009
Jason,

According to Trulia information the average listing price in Midland is $240,000. Since there has been little activity in recent sales and actual current average sale price is not available. It would be fair to assume that 10-20 percent below this asking price would bring you close to the number you are seeking.

Good luck
0 votes
, ,
Thu Jan 8, 2009
The boom has bust. Try the heat index map here on Trulia, which will tell you the avg. sq. ft. Right now is a great time to buy. Best wishes.
0 votes
Jesus Vazquez, Agent, Odessa, TX
Sun Jul 27, 2008
The average prices vary of course.. depends on the area, house etc.. If I had more details on the type of home you were looking for I could give you a range.
Web Reference:  http://www.jesusmvazquez.com
0 votes
Scott Alexan…, Agent, San Angelo, TX
Wed Feb 6, 2008
I know that Midland is booming. A friend of mine is a realtor there and I would be glad to put you in touch with her. Call me at 325-450-5099.
0 votes
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