What’s Happening to Resale Homes?

mroller

11 months ago

July Results for Zip Code 77441

The supply of RESALE homes continues to keep climbing and has risen 63% since just February! This has resulted in significant increases in the Days on Market, along with a dramatic number of Listings taking Price Reductions. Whereas, the New Homes barely changed.

RESALES:

The Sold results for July are a contradiction. Homes were definitely sitting on the market much longer with a disturbing 69.6% having taken a Price Reduction (55 out of 79). BAD NEWS! Yet, the Average Price Per Square Foot remained steady, the number Sold increased substantially and the Months of Supply significantly declined. GREAT NEWS! So, go figure!

NEW HOMES:

“Boring” is an apt description of the July results for the New Homes. There was almost no statistical change in any of the trends. Additionally, all the results are relatively positive. In short, a very stable market.

WHEN TO BUY AND SELL?

There are a lot of factors affecting the market. Uncertainty, though, means that whatever Buyers and Sellers thought the market was just a mere 30 days ago, may NOT be 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 are considering the purchase of a New Home, please contact us. We have a Special Offer which will put THOUSANDS OF DOLLARS in your pocket.