Experts say RGV in a sellers market

Local News

Rosilu Behnke is trying to sell her home today and is hoping she can make a little more than what she bought it for in 2006.

“We are actually looking to see if we can get a bigger house now for our family,” said Behnke.

Her realtor is here to help stage her home and get it ready to sell. He told KVEO that we’re in a seller’s market right now.

“Right now people are starting to see where people can at least make money or at least break even,” said Craig Grove Brownsville Realtor.

That’s because the average home price in the Valley is up 6 percent from last year.

We spoke with the president of the Brownsville and South Padre Island Board of Realtors to see why he thinks housing is going up.

“Space X coming on board for Brownsville and there is just a lot of interest in the area for economic development. Which I think is going to bring more people to the valley,” said Mickey Furcron.

With housing going up the number of listings are going down. Right now there are nearly 4,000 homes on the market for all of the Rio Grande Valley which is down from last year.

“They’ve been hearing over the last couple of years that the value isn’t there in their home to sell it. So they’re afraid still that they’re not going to get their money back,” said Grove.

Rosilu told us she remains confident that she’ll get her money back plus a little profit.

“Five years ago we did try to sell our house we bought in the high of the market. So now we’re seeing that we can get our money,” said Behnke.

“It’s definitely better than it has been in years,” said Grove.

According to Texas Realtors an average home is on the market for four and a half months which is 21 days less than it was in 2014. That’s welcome to news to someone like Behnke and her family.

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