Did you know that c21.com has monthly market update videos for nearly every community in the United States? It’s true! Check the video to see how real estate market information about your neighborhood is just a few clicks away, thanks to CENTURY 21. If you’d like a link to a market update video for your area don’t hesitate to contact us. Just as an example, click any of these links to check out the market update videos for Conroe, Cypress, Huffman, Magnolia, and Spring. Through c21.com you can see keep track of the monthly market changes that effect where you are buying or selling a home. Just one more way that CENTURY 21 Agents are Smarter. Bolder. Faster.
It is no secret that Houston’s economy just keeps pumping, throughout the region both transplants and locals are discovering that buying a home makes sense. Understandably, housing supply has been extremely tight throughout the year. All this growth has driven single-family home sales in the Houston area to the lowest recorded inventory levels. Ever. According to the latest Houston Association of Realtors monthly report, single-family home sales hit a record 73,232 closings in 2013, up an astounding 17.4% over 2012 (itself a very active year). Here’s a look at some statistical highlights from 2013:
- The Houston Area recorded 86,000 new jobs created, plenty of those new workers seem to have bought houses.
- The Houston Area median home price was $180,000 in 2013, up 9.4% over the previous year.
- The Houston Area average home price was a record-setting $265,017, up 10.3% from the previous average of $240,326 a year ago.
- Single-family home inventory hit a record low of 2.6 months, meaning that’s how long it would take for the Houston Area to sell every home listed given the current rate of sales. That’s less than the 3.7 months from 2012 and 5.8 months from 2011. A more “balanced” or “typical” market would usually hover around 6 months. This is absolutely a seller’s market.
- Total volume of home sales jumped 30.2% to $20.89 billion dollars.
See how the market is doing with our latest Montgomery County Residential Market Update. Click the link above to see a short video outlining the key market trends at the end of the summer. In case you are wondering, it’s been another white hot summer buying season here in Texas. Many buyers who waited have found fewer homes on the market and higher prices, despite mortgage rates creeping upwards after historic lows. If you would like a market video regarding your city or zip code, contact us and we will be glad to provide one.