Learn About the Latest 2016 Mission, Texas Real Estate Market Trends
Mission, Texas was recognized by Wallethub as one of the fastest growing cities in the U.S. in 2015 and as the most affordable place in the U.S. to retire to by SmartAssets. The McAllen-Edinburg-Mission area continues to draw in new residents looking for new homes for sale in McAllen, TX from across multiple generations with its reasonable housing and healthy job market. The Bentsen Palm community is a prime example of the varied demographics of homebuyers that are increasingly moving into the area.
According to the Texas Association of Realtors Texas Quarterly Housing Report, median prices for homes in Mission, TX and the surrounding area were up 6.4 percent compared to the first quarter of 2015, but still remain at an affordable median price of $120,500. Five-hundred and fifty-six homes were sold in the McAllen-Edinburg-Mission area in the first quarter with 84 percent of the homes priced at $199,999 or less, 15.33 percent ranged between $200,000 – $499,000 and the remaining 0.38 percent at $500,000 or higher. The active number of listings were down 18.3 percent and inventory is down to 7.5 months compared to 9.7 months in the first quarter of 2015.
The McAllen-Edinburg-Mission area job growth was up in a number of sectors including, financial services, trade/transportation/utilities, professional businesses/services, leisure/hospitality, government and other services. And the unemployment rate has continued to decrease since January 2016 to 7.0 percent in June. Families moving into the area for new job opportunities will find that Tanglewood at Bentsen Palm offers a convenient location 3 miles south of Expressway 83 and minutes from top area employers.
Combined with the low cost of living compared with other major cities in Texas, the McAllen-Edinburg-Mission real estate market continues to be a solid investment for new home buyers. Learn more about real estate opportunities and new homes for sale in Mission, TX when you tour one of the fastest growing and most loved communities in the area, Bentsen Palm.