Spring TX Real Estate: Market Report June 2008
The YTD closed home sales through June 2008 for Area 13 which the majority of is considered Spring Texas were 1,361. A decrease of 15.6% compared to the 2007 YTD number. The quantity of active listings are 1,683 which is a measly 1.9% less than a year ago.
The decrease in closed sales is greater than the decrease in active listings which has resulted in an increase in inventory over the prior year. The months of inventory (absorption rate) for the Spring Texas real estate market is 6.8 months which is considered a buyers market.
Translating into its an excellent time for buyers to negotiate the most favorable terms. If you are considering buying a Spring Texas home, don’t wait too long because builders are tightening their inventory. Due to the increase in fuel and its impact on housing materials, I forecast pricing increases are on the horizon. If you are thinking about purchasing a Spring Texas home, contact Jill Wente & Company and we will guide you through the entire home buying process.
Spring Texas home sellers are seeing their homes sitting on the market longer. As the decrease in pended sales has increased the DOM (Days on Market) by 12% to 89 days. The increase in inventory means Spring Texas home buyers have to power to be choosy and they are taking their sweet time to decide upon which house is the right house for them to call “Home”.
If you are thinking about selling your home, you need a Spring Texas Realtor who understands that Internet exposure, extensive marketing, multiple quality photos, strategic pricing, and staging are essential to getting homes SOLD in today’s real estate market. If you want to get top dollar for your home, contact Jill Wente at 281.804.8626 to learn how we turn your For Sale sign into a SOLD sign.