Abilene housing market heats up: More buyers, lower interest rates

ABILENE, Texas (KTAB/KRBC) – Things are shaking up in the Abilene housing market, according to local realtors, making the climate seem like a great time to buy.

In 2024, the market experienced a decline in interest rates, falling from an average of eight percent to six percent, according to data from Senter Realtors.

Recent homeowners Shivon and Aaron Laws bought their homes in October of 2024 when the rates were lower due to the uncertainty of the election.

“We got a nice mortgage rate, the interest, the presidential [race] kind of brought it down, so you know, just the perfect timing,” Aaron said.

Local realtor Angela Rodall told KTAB/KRBC that interest rates are not the only thing that is changing in the housing market; more people want to buy.

“People are just ready to buy. They’re not waiting. I’m getting calls. Everybody that I’ve talked to, my realtors and my colleagues, they are getting more calls as they did last year,” Rodall said.

Despite the median house price increasing to $235,000 in 2024, realtor Monya Barton says that the relationship between price and interest rates ultimately adds up to the same.

“At the end of the day, you’re going to have that same monthly payment whether your interest rate is a little lower or your home is a little higher,” Barton said. “In June, the average price in Taylor County was going for $232,000, but in November, the average house price is $240,000, and so what you’re seeing is a basic rise. It’s not a huge rise. Homebuyers don’t have to panic or anything, but that’s what every homeowner wants a raise in their equity.”

Although the national housing market is undergoing changes, Rodall noted that due to Abilene’s unique characteristics as a city, it should not be significantly affected.

“No matter what’s going on with the national market, you really can’t compare because we have a strong military base, we have strong universities, we have businesses coming in,” Rodall said. “When the market national market takes a dip. Abilene may slow down, but it doesn’t take a hard hit. I’ve seen that in the past five years.”

According to the Abilene Association of Realtors, houses were sitting on the market for an average of 142 days last year; that number has now decreased to 96 days. There are now more than 900 homes for sale, compared to just over 600 in December.