January 30th 2023

A Publication About Everything New & Growing In Amarillo

Here, you can expect to discover the latest in our thriving city, whether you stumbled upon this email subscription or you are actively seeking updates. Maybe, you are an entrepreneur looking to seize the opportunity to gain an advantage in our fast-growing soon to be "metropolis", or even scout out the best deals around town. Whatever your motivation, we have something to offer everyone.

Good Morning! It was a matter of time before we got a good snow!

Here's what we've got for you today:

• A New Business Coming To Amarillo

• The Amarillo Sod Poodles Opening Day & Schedule

• This Weeks Weather

• Amarillo Real Estate Update

New Business Coming To Amarillo

A new restaurant that will be completed in 2023 is Volcano Korean BBQ. The newly developed store will be located at 8518 W Interstate 40 Frontage Rd, Amarillo, TX 79106.

This new restaurant is something Amarillo has not been seen before. This style of restaurant is becoming popular in bigger cities at a rapid rate. Something new and never seen before in Amarillo always drives a lot of traffic surrounding the grand opening.

This business will be taking over the location that was previously known as Fuddrucker's.

We look to receive some more information about the opening from ownership to follow up for our subscribers.

Each week, Grow Amarillo intends to provide information on new businesses coming to town and highlight existing businesses, including exclusive discounts/deals for newsletter subscribers.

Please scroll to the bottom of the newsletter to find out how to be featured.

The Amarillo Sod Poodles home opener is on April 11th, 2023. The exciting part of the 2023 schedule is the amount of games they play at home during summer holidays. Independence Weekend Celebration (July 1-3) will feature the Tulsa Drillers. Mother's and Father's Day games vs Midland RockHounds and San Antonio Missions, respectively, at the ballpark. Attached below is snap shot of the first two month of games. The link below will take you to the full schedule for 2023.

This upcoming week looks typical for Amarillo. We'll get a little bit of everything!

Real Estate

In 2020, Amarillo moderate increase in home sales and steady median home price. Impacts by COVID-19, had little effects on the number of homes sold. There was a slight shift in housing demand towards larger homes or homes with outdoor space.

In 2021, home prices started to creep up, but homes still sold at a fairly good rate in Amarillo.

In 2022, rumors of a real estate market crash circulated and a decline was seen towards the end of the year. However, it is believed that Amarillo's market will not be affected as severely as other cities. The city's growth and popularity as a place to live should support home prices.

Even with higher home prices in 2022 sales of homes continued to around increase around summer time even with mortgage rate increases. Is this a trend we will continue to see as Amarillo grows?

Commercial real estate in Amarillo is still active, with properties changing hands to builders/investors. The extent of any potential recession may impact the speed of these projects' completion or if they will start after land transfer.

With the increase in mortgage rates investors have switched some of their focus to multifamily units as we have also seen an increase in new ownership/managent in certain apartment complexes.

Here is a chart of homes sold by year in Amarillo.

Thanks for spending time with us and enjoy your week!

Would you like to be the sponsor of our next newsletter? This will highlight you as a new business coming to town or a featured business that already in operation. Please fill out the contact form below to receive more information!

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