Odessa Texas Housing Market Overview
The Odessa real estate market presents unique opportunities for homeowners looking to sell their properties. With a median home sale price of $280,000 and a price per square foot of $125, the market shows promising growth with a 9.8% increase year-over-year. This growth comes despite prices remaining 49% below the national average, making Odessa an attractive market for both buyers and investors. Current market dynamics in Odessa are closely tied to the region’s energy sector, with property values and sales velocity often fluctuating alongside oil prices. Traditional home sales in Odessa typically take around 33 days to complete, although this timeline can vary significantly based on market conditions and property type. Notable market indicators include a modest 1.0% of homes selling above list price and a lower-than-average cost of living, running about 7% below the national average. For homeowners considering their selling options, the market accommodates various property types, including single-family homes and multi-family units, and supports both traditional and expedited sales processes.