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October 28, 2012

Local real estate market improves

Rebeka Rutledge The Duncan Banner

DUNCAN —

In the last few years, there has been an upward trend in the real estate market and Grant Perkins, newly elected president for the upcoming term of the Duncan Association of Realtors, has the numbers to prove it.

Perkins, who has been an agent for Perkins Realty for 10 years, said that looking over the numbers going back two years, the increase in sales is steady.

“We did take a bit of a hit with the economy, but not as bad as many other states,” he said.

From Oct. 24, 2009 to Oct. 24, 2010, there were a total of 383 sales with an average sale of $98,564. During the next 12 months, the number of sales went up to 444 with an average of $109,726. During the past 12 months, there have been a total of 487 sales with an average of $113,976.

These sales cover not only Duncan, but all of the area Duncan realtors have listings, which is mostly Stephens County but other counties are included, although those listings are few. However, the majority of the sales are within Duncan.

“It’s a little bit of both (people moving in and moving out),” said Perkins. “Halliburton has been doing a lot of transfers, which has people moving out but with those kinds of numbers, there are definitely people moving in as well.”

As far as future outlook on the real estate market goes, Perkins said much rides on the outcome of the upcoming presidential election.

“With a possible change in leadership, it’s hard to pinpoint a guess as to how the market will be over the next year,” he said.

The community of Duncan has seen much progress even just in the past few months with the construction of a new hotel and the contract for an Applebee’s. These are some aspects that Perkins said draws people to the city.

“Duncan pretty much sells itself because it’s a good size with that small town feel,” he said. “There are the chain businesses coming in and there are also still several private business owners, so it’s not a corporation town.”

With these different types of businesses, the economy of Duncan has continued to see growth, which helps in attracting new Stephens County area home buyers.

“The cost of living here is great compared to other places,” said Perkins.

“Rental property is competitive and there are great neighborhoods.”

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