The median price for a home in Killeen has gone up significantly in the last year, and homes are scarcely available and staying on the market less than a month on average.
Michael DeHart, the association executive for the Fort Hood Area Association of Realtors, provided the Killeen housing market statistics for March.
The median price for a home in Killeen was $170,000, a 13.3% increase from March 2020, and the number of active listings is down to just 85, which is down 66% from March 2020.
Those houses that are on the market are staying on the market for around 29 days on average, according to the report, which is 22 days less than March 2020.
Housing prices continue to increase as availability decreases in Bell County
and last updated 2021-04-13 00:04:51-04
Fort Hood Area Association of Realtors says they are less than 100 active homes for sale in Killeen-Fort Hood area, far less than usual.
âA lot of people do an awful lot of home shopping virtually. Iâve even seen cases where people buy property site unseen. The first time they show up and see the house they re handed their keys in closing,â said Michael DeHart, executive for the Fort Hood Area Association of Realtors Association.
Experts say there are several reasons for the shortage, including an increase in companies buying homes rather than just families.
Home nationally have sold at a very high rate while locally very few homes are available for purchase.
Michael DeHart, the association executive for the Fort Hood Area Association of Realtors, tried to explain why the housing market is where it is in the Killeen-Fort Hood area.
âThe biggest issue in the current market is that there are not enough houses for sale. This results in multiple offers for each house, often driving the cost up,â DeHart said. âThere are currently 95 homes active in the MLS (Multiple Listing Service). Of those, 32 are priced at $200K or more.â
On top of the 32 homes at $200,000 or more, there have been homes sold in the Killeen area at $400,000 and $500,000 as well, but DeHart says this is nothing new.
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Killeen-area residents are starting the year with a piece of big news: Fort Hoodâs name will be changing in the near future.
Thanks to Fridayâs Senate override of President Donald Trumpâs veto of the National Defense Authorization Act, the clock is ticking on removing the names of Confederate leaders from U.S. military installations. That includes Fort Hood, which was named for Confederate General John Bell Hood.
Both houses of Congress agreed to put the name-change language in the NDAA last summer, and President Trump vetoed the bill, partly because of his objection to the mandate. But now that Congress has overridden the presidentâs Dec. 23 veto, the move to rename the post is moving forward.