What’s going on with the Spring Texas Real Estate Market? The real estate market for March is the first month of 2010 that does not look like its 2009 deja vu. Sales of 176 for the month were down 13.6% compared to March 2009. New listings were 440 for the month which is 16% more than March 2009. Months of inventory jumped to 6.3 months which is 12.5% more than in March 2009.
What do all these measurements of the Spring Texas real estate market mean? In a nutshell … it is all about the first time home buyers tax credit. Sellers who would have waited until the summer to put their house on the market put in on earlier in hopes of snagging a first time home buyer. Months of inventory increased due to the increase in listings. Sales are down because there are not as many first time home buyers in the market as everyone hoped for.
Buyers at the $600,000 and above price range are beginning to come back out into the market. These buyers have seen a partial rebound in their portfolios and with low interest rates and beaten down home prices they recognize a good buying opportunity.
For a closer view of the numbers, click on the graph.
Want more numbers? Check out past Spring Texas real estate market reports
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
My family and I have moved many times and have had several realtors in various locations. Jill Wente is hands... read moreMy family and I have moved many times and have had several realtors in various locations. Jill Wente is hands down the best real estate agent in Spring Texas and certainly the best we have ever used. She has represented us as a buyer and seller and then most recently a buyer again the Spring TX area. She helped us figure out what would fit our needs today and what our needs would be 5 and 10 years from now. She was always thinking about future resale value and guided us in the process of making a wise financial decision. She negotiated hard for us and treated our money as if it was her money. She was always available and worked around our schedule. If you are looking for someone with unparalleled knowledge of the Spring TX area look no further, she’s the one you want on your side. I LOVE our new home but if I ever move again, Jill Wente will be who I call. read less