Are you curious about how recent changes in the real estate market could affect your long-term financial goals, and what you can do to take advantage of those changes? Today, I'll dive into single-family home stats for Houston & Surrounding areas from a Buyer & Seller standpoint.
1) Home sales have fallen 18.3 percent year-over-year, but don't freak out just yet! We're seeing a gradual return to normalcy. Compared to pre-pandemic 2019, sales are actually up 13.0 percent.
2) Days on Market (DOM) rose from 38 to 62 days
3) Average price remained flat at $408,647
4) Months of inventory was 2.7-months supply, up from 1.1 months a year earlier.
Don't let the market stats scare you. Whether you're buying or selling, there are opportunities to be found and I'm here for you. If there is anything in the world that I can help you with, don't hesitate to reach out.
If you made it this far, here's a joke as a reward:
What do you call a real estate agent who only sells treehouses? A real branch manager.
P.S. I sourced data from our local MLS for the month of March.