According to research analyst appraiser Drew Dunklin, the median days on the market is 42, a sizable drop from the ten-year average of 90 days. Additionally, sale-to-asking price is at 97-98 percent in this area just east of Dallas. High-end homes are hot right now, according to tylerpaper.
Smith County Chief Appraiser Mike Barnett says there has long been a shortage of entry-level homes, which is expected to continue. The existing ones go for $100 a square foot and up,which puts a 1,000 square-foot home at $100,000, which is high for the area.
Barnett says there are 17,000 manufactured homes in Smith County. “What we see in the manufactured home (MH) category is that many of those homes are selling at well more than $100,000 and $125,000. Granted, the more typical manufactured home is coming in at $55,000 or $60,000. But homeowners who are looking for more square footage, say 2,000 square feet and up, can get into it for considerably less.”
As MHProNews knows, Texas is far and away the number one state in terms of shipment of manufactured homes. ##
(Photo credit: Trulia–manufactured home in San Benito, TX)
