Summer months usually bring higher home sales and this past June was a record year with 8,414 single family homes sold in H-Town. That’s the largest one month sales volume in history for Houston.
I was in Dallas a few weeks ago and Realtors there say Collin County is booming. Over in San Antonio, they have seen increasing sales. Back in May they reported an 11% increase in home sales over last year for a total of 3,133 homes sold.
Over in Austin the Central Texas housing market continued to show signs of normalization in the first half of the year. Austin area homes are spending more time on the market and housing inventory levels have slowly increased throughout the year. The Austin Median Home price increased 7.7 percent to $365K and home price appreciateion throughout central texas has increased between 5-8 percent.
I have found that most homes on average will sell for about a $1 more per sq foot during the summer months, but the fall appraisals are where you see that value added in. So keep buying into the late fall months!
Inventory of homes for sale is currently increasing across Texas. NAR released that nationally the days on market are now at 4.2 months. Houston has increased to 4 and a half months which is the highest in 5 years. Could we be heading for a slowdown in sales with increased inventory? Realtors think so! Remember, we are now in August and the June statistics are just being released. The MLS data lags about two months behind. What realtors are seeing now is not what was reported for June.
Texas housing prices continue to rise, which is great for landowners across the state. The median home price rose to $239,000 in Houston. New homes under $300,000 are moving fast, but they are continuing to get harder to find throughout the state.
Let’s talk rental market….Rent prices have decreased about 4 percent in Houston, but there are more families renting single family housing than in previous years. The average rent right now is about $1800.
Lastly, for sellers, Automated tools are great to guess what you could sell your home for, but if you are serious about selling, call me to find out the best selling price b/c different variables go into home pricing – like condition, upgrades, and time of year, that automated online tools can’t take into consideration.
Remember, if you want to be in a new home for Christmas, now is the time to write a contract. If you want a new construction home built before next summer with a new pool, start working with a builder to secure a lot and choosing plans.
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A native of Columbus, Georgia, and a graduate of the University of Georgia, Shannon is the Broker / Owner of Register Real Estate Advisors. She holds over nine real estate Certifications and Designations. Shannon is the host of "Houston Real Estate Radio" on NewsRadio 740 KTRH in Houston. You can learn more about Shannon HERE.