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The Latest News in Houston Real Estate
Manage episode 152561727 series 1063437
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There are many great Houston area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at 832-428-6453 for a FREE home buying or selling consultation to answer any of your real estate questions.
This year, the numbers for the first quarter are down compared to last year. 2015 was a record year, so we anticipated these differences.
The $1 million and above price range is struggling right now. This category has seen an increase in inventory and a slowdown in sales. In fact, some areas in this price range have up to two years of inventory.
If you are trying to sell a home in that market, understand you should price according to market trends. Price according to where the market is going, not where the market has been. Otherwise, your property can sit on the market much longer than you anticipate.
On the other hand, homes priced under $500,000 are in a hot market! Homes are selling quickly. Depending on the part of town you’re in, you may be seeing a lot of multiple offer situations.
This year, we predict home sales will decrease around 10% compared to 2015. Overall, the market favors buyers. Buyers will have more time to look at properties and ultimately, have more options to choose from. We are headed toward a more balanced market. Since Houston is so large, the market varies depending on where you are.
If you’re a buyer, now is a great time to buy. If you’re a seller, home prices are still trending upward, so it’s still a great time to sell. Prices aren’t appreciating as quickly as they did last year.
If you have any other questions, give me a call or send me an email. Additionally, if you were unfortunate enough to get water damage from all the rain last week, please reach out to us. We can put you in touch with contractors to help you with that. I look forward to hearing from you!
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