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.
October 2015 Houston Housing Market – Update
October sales of single-family homes had an anticipated drop compared to October 2014 in the Houston housing market. A slower housing market is typical in the fall in Houston. Inventory levels remained steady at 3.5 months, meaning if no other homes were listed, the homes on the market right now would be depleted in 3.5 months. Houston housing inventories are well below the national average of 4.8 months, supporting a strong Houston housing market.
Home prices reached record high levels in October. The average single-family home sales price rose 3.7% over last year to just over $271,600. October continued to show quick home sale turnaround; 53 days to a sale on average. All indicators point to a more ‘normalized’ Houston housing market, supported by low inventory levels, high demand, and a diverse Houston economy.
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 230 agents in our office who are experts in Northeast Houston’s real estate market.
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