New listings hitting the Spring Texas real estate market drop by 32% due to holiday seasonality. Our real estate market typically sees fewer new listings between mid-November and the third week of December. The homeowners listing their houses during this timeframe have a defined new and timeframe to move. They are motivated sellers. 11% of the homes on the market experienced a price decrease last week. In some neighborhoods, 50% of the homes have received a price decrease. Reduced buyer demand and the impatience of sellers to have their house under contract are the drivers behind continual price decreases.
Sold homes skyrocketed by 62% last week fueled by buyers desire to close and move into their new home before Thanksgiving. Total number of homes available for sale on the Spring Texas real estate market remains consistent at 790 with months of inventory stagnant at 1.8 months. Low inventory is keeping the housing market in a sellers market.
Questions about the Spring Texas real estate market? Reach out to Jill Wente, Spring Texas Real Estate Agent
Market stats are from the Houston Association of Realtors for the week of November 15 – November 21, 2022 for single family homes in Spring Texas.