Did you know that San Angelo was ranked 6th out of 25 MSA’s (Metropolitan Statistical Areas) for Hotspots of Economic Growth for 2023! That’s right, our little town was number six behind much larger metropolitan areas for Economic Growth. According to Mike Berry, the Economic Development Manager at the San Angelo Chamber of Commerce, San Angelo may be small but we are mighty compared to several much larger metropolitan areas within our state. We are 56% - 95% smaller than the five Texas MSA’s that outranked us. But we measure up well!

See the chart below.

Chart provided by San Angelo Chamber of Commerce Economic Development

     With this in mind, here is what is happening in San Angelo Real Estate this month. The number of homes under contract is up from last month. This is a good sign that homebuyers are finally getting an interest rate they are satisfied with until the refi boom of 2025. We are also beginning to see homes that have been on the market now getting activity and one has even seen multiple offers. I think this is possibly a sign of what we might see as we enter the Spring market. If you are thinking of buying, it might be a good idea to get ahead of the crowd and start looking now. 

     As for interest rates, mortgage interest rates have been up and down since last week. FHA and VA loans are still in the low 6's. Many believe that once the rate drops the first time, it should continue to drop throughout the end of the year. We will have to watch and see what happens.

     Below are a few market statistics for San Angelo this month.

If you are looking to buy or sell a home this year, let's connect!

Looking for your next San Angelo home, go to Search San Angelo Homes for Sale.

Want to know what is going on in or around San Angelo? Check out my Key Events, I hope to see you there. 

LaFreta White, Assoc. Broker | Realtor @ ERA Newlin & Co. | 325.656.6896 | lafreta@sanangeloera.com