Keller Williams Northeast Houston Housing Market Update

Housing Market UpdateKeller Williams Northeast Houston Realty 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.

March was the 34th consecutive month of high home sales, despite the lowest record inventory levels. Home sales rose 3.7% over last year, with home prices in the $250K – $1MM rising over 11% versus March 2013. This price range saw the highest growth in home sales, accounting for the jump in overall home sales in March 2014.

Foreclosure sales have continued to plummet. Foreclosures currently only make up 6.8% of all property sales, down from March 2013’s 12.8% numbers.

New construction and seasonal spring listings should support inventory growth, helping keep prices at a reasonable level. Inventory continues to hold at 2.6 months of supply.

If you are in the market to sell your home, now is a great time to do so. Low inventory and high demand helps increase the amount of offers you receive. Having an expert in your area to sell your home is a must to take advantage of this real estate market. Low inventory and high demand also makes finding a new home a little more challenging. Keller Williams agents are number one in the nation because they are experts at finding your perfect home.

If you are in the market to buy or sell a home, please contact our office today. We’d love to help you take this next step in home ownership.

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