Eye Popping Results?

June Results for Zip Code 77441

Supply is the best indicator of the market’s direction. Low inventory puts upward pressure on prices, and conversely, increased supply puts downward pressure. As the chart below indicates, the supply of Resale homes skyrocketed and is now DOUBLE what it was a mere 5 months ago! As such, Sellers need to be very careful that their home is listed at CURRENT MARKET CONDITIONS…
and not the past.

RESALES:

Okay, if Supply is way up, why did the average Sales Price increase significantly? It’s because ¼ of all the homes that Sold, were between $1 million and $2.5 million. Good news, yet obviously, that brings the average up. What also went up? Days on Market and Months of Supply. Not good! As a result, over 40% of ALL the Listings have taken price REDUCTIONS. Unfortunately, too much supply is causing the market to slow! Weston Lakes is a good example…

NEW HOMES:

The New Homes again outperformed the Resales, where Sales Prices, Average Price Per Square Foot, and the number of homes Sold all increased. The only decrease was the Months of Supply. So, all good news for the New Homes. And, this means Buyers should be able to find better opportunities with the Resale homes.

WHEN TO BUY AND SELL?

There are a lot of factors affecting the market. Either it will continue the downward trend or provide a welcome rebound. Uncertainty, though, means that whatever Buyers and Sellers thought the market was just a mere 30 days ago, is NOT the market we are in today.

So, if you would like a FREE market analysis to see what your home is worth, along with insight into the current market, just reach out to us. We’d be pleased to help you decide the best time to buy or sell.

HELPFUL RECOMMENDATION

As indicated, there is a lot of volatility in the market, and this means home prices are not remaining constant. As such, we recommend that Sellers meet with at least two Agents BEFORE you List. It just seems reasonable if you’re selling an asset worth hundreds of thousands of dollars, that you would welcome as much information as possible.

NEW HOME REBATE PROGRAM

If you have any interest in a New Home, please contact us. We provide an Exclusive Offer which may SAVE YOU THOUSANDS OF DOLLARS.

Results by Community

Below is a wealth of information for each Community. Just click on the link and view a quick summary that shows how each community is performing; based upon the Averages for both Sales Price and Price Per Square Foot.