With the February 2009 numbers of home sales down 30% and median sales price down 16%, the Spring Texas real estate market was off to a frightening start. The 8.5% of the Houston Realtors who decided not to practice real estate at the end of 2008 were starting to look like the smart ones in the room.
As we progressed further into the year, our government finalized a first-time homebuyers tax program and a program to purchase mortgage backed securities keeping interest rates at record lows plus the stock market began to recover. All of these events combined helped the Spring Texas real estate market to end the year signficantly stronger than how it began.
With home sales (2,288) being down 11% and the median home price ($137,000) being down 2.5% from 2008, the real estate market for 2009 was not great. Its all relative though because if you compared our market to real estate markets in other parts of the country, our market fared significantly better.
What should you expect from the Spring Texas real estate market in 2010?
How will 2010 compare to 2009? In the end the total numbers of homes sales will show a slight increase over 2009. The median sales price will also experience an increase as more homes will be sold in the higher price ranges as the economy improves.
For more numbers, check out the Real Estate Market Reports category.
The data represented is from the Real Estate Center at Texas A&M University and the Houston Association of Realtors MLS for single family existing homes in Area 13. Area 13 covers the geographic boundaries of East – I45 to West – Hwy 249 to South – Beltway 8 to North – Spring Cypress. A good portion of the houses in MLS area 13 have a Spring TX mailing address
Jill Wente is an incredible realtor! We lived in the area for about 3 years before taking the house-hunting plunge... read moreJill Wente is an incredible realtor! We lived in the area for about 3 years before taking the house-hunting plunge and truly could not have chosen a better realtor to work with. Jill is professional and patient, she is an incredible resource who is 100% there for her clients at all times. We had a lot of questions and didn't want to pay any closing costs or prepaid costs out of pocket - Jill is a Master Certified Negotiation Expert and it SHOWS. We got exactly what we wanted at the price we wanted AND had several bonuses thrown in, including appliances and gutters. She was there for inspections/walk-throughs and kept in contact with our builder's salesperson as well. If you want a strong realtor who is also pleasant to work with (which I've learned is rare), then Jill is the realtor for you!! read less