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
We entrusted Jill Wente with the sale of our current home and purchase of a new home. From the beginning... read moreWe entrusted Jill Wente with the sale of our current home and purchase of a new home. From the beginning she was extremely up front and honest about exactly what we would need to do to get our house sold. We had an incredibly tight timeline, that she explained would be difficult to make - but she helped us make it happen and our house sold in 2 days! She had recommendations for all our home repair needs and they were all professional and fairly priced. She worked hard to really sell our offer for our new home - she was able to pull off the tight timeline, securing a rent back from our old house so we had time to move out, and a contingency for our new home. Definitely exceeded our expectations. She was so helpful along the way - as first time home sellers we really relied on her and we feel lucky to have worked with her! You will not regret working with Jill! read less