Keller Williams Realty Northeast Houston strives to bring you the most current Houston housing market information so you can make the best decision on the buying and / or selling of your home.
January Houston Housing Market – Update
January still showed much of what we saw in 2014. Home sales and prices continued to rise, while inventory levels remained low. However, most industry experts expect to see the hot sales market cool on the heels of lowered oil prices and low inventory levels. January saw the greatest increase of home sales in the $250,000-$500,000 price ranges, while homes priced over $500,000 saw the greatest decline in sales.
In January 2015, inventory remained at a low 2.6 months of supply. This means that if no other homes were listed, the homes on the market right now would be depleted in two and a half months. Northeast Houston is seeing even lower levels of inventory. Compared to the nation’s average 4.4 months of supply, all indicators point to a still hot Houston housing market. Average home sales prices jumped to 7% year over year, reaching almost $260,000.
If you are serious about buying, be prepared to make a quick decision once you find the house appropriate for your needs. Be pre-qualified. Buyers should be prepared to move quickly. If you are selling your home, be prepared for quicker-than-expected offers. Have your moving plan in place. Our realtors can help you with the moving process, recommending moving companies with an all-star record and insuring the closing process on your home go as smooth as possible.
Keller Williams Realty Northeast has relationships with reputable, professional mortgage companies who are ready and waiting to help buyers get pre-qualified for a loan. Don’t have a Realtor yet? We have over 160 agents in our office who are experts in Northeast Houston’s real estate market.
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