What’s going on in the Spring Texas Real Estate Market? Our housing market is on a roll recording yet another monthly gain. Sales are up. Listing inventory is down. Average and median home prices are being pushed upward. Active listings remain below 1,000. June’s Days on Market dips to 70. We have a perfect storm for sellers with sales up, inventory down, and prices up. If you were thinking about selling your Spring Texas home, now is a GOOD time.
Listing inventory is down – If you are having trouble finding the right house to call “Home”, its because the listing inventory is low. In comparison to the same month last year, there were 27% fewer Spring Texas homes for sale on the market.
Months of Inventory – Months of inventory 37% lower month over year. A 27% decrease in active listings coupled with a 14% increase in home sales as pushed the months of inventory down to 5 months. Buyers are out and good listings are in demand.
Home prices – Average and median YTD prices are recording single digit gains. Listings in top condition are receiving full price offers and some listings are receiving multiple offers .
Days on Market (DOM) – Measured from the date a house is put on the market until the date it goes under contract. DOM helps to answer the question of “How long will it take before my house sells?” and for the month of June the answer was 70 days. The rush to make a housing transition before school starts is upon us and pushing the DOM lower for the month.
Mortgage Interest Rates – Rates on 30-year loans still remain ridiculously low. Our clients have been locking in interest rates of 3.375% and 3.5% on 30-year fixed rate conventional loans.
Low rental inventory – With months of inventory sitting at 1.3 months, the supply of single family home rentals is tight. Demand for homes to rent in Spring Texas remains strong with rental activity up 7% over last year. When you find a home you want to rent, quickly submit your application. If you delay, the home will no longer be available.
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 a large geographic area stretching from I45 to Hwy 249 to Beltway 8 to Spring Cypress.
Jill was phenomenal during every step of selling my father's home. This process was extremely difficult for me, as... read moreJill was phenomenal during every step of selling my father's home. This process was extremely difficult for me, as my father passed away last year. Jill listened to EVERY story I had, and there were a lot of them! She allowed me to share the memories of the house, which helped me prepare to let it go.
She is very knowledgeable in what to and what not to do in regards to getting the home ready to sell, what to tackle during the negotiation process and she made the closing extremely convenient. She was thoughtful enough to place the "sold" sign on the property a week in advance, to allow me time to process it all.
Paying constant attention to what is happening around your listing is one of JIll's many strengths. Her goal is to get you the most money for your property, and she has different strategies to that end result.
I not only gained a new realtor, but in JIll, I also gained a friend! I will be forever grateful for her through this tough process and I know my Dad would have loved her! "Thanks," will never be enough! read less