Blog

I'm Glad You're Here

Hi!

I'M Onyi Silmon

My purpose as a luxury real estate agent is to help you build a legacy which speaks to who are you.

By inspiring you to live a life where there are no limits.

read more

Houston's June Real Estate Market Update

Published July 22nd, 2019 by The Silmon Group

Overall Houston Single-Family Home Results 

For the first time this year, last month’s sales did not outpace last year. In fact, there was a 3.4% decrease. Never fear though, Houston is still set to beat last year numbers despite the loss of sales this month. 

Do not worry though, the greater Houston area is still experiencing low-interest rates and a robust economy. I am sure the question is then why the loss of sales? It is anyone’s guess. It appears the environment is encouraging for buyers.

In addition, there is a rise in the median home price last month, in comparison to the previous year. According to HAR, there was a 2.9% increase from last year.

Interested buyers can breathe easy, inventory is up again. Inventory is up 4.4 months putting us slightly above the national level, currently at 4.3 months right now.

What Does This Mean For You?

Buyers

  • Increased inventory is great news for buyers who are looking for a home now. This means less competition and depending on the neighborhood it is possible to negotiate better deals for your dream home.

  • Lower interest rates and increased inventory make the current market a great environment for buyers. 

Sellers

  • It is a mixed world for sellers. Despite a decrease in home sales and less available buyers, the buyers available are still willing to give you top market value.

  • Sellers are going to need to be savvy to attract buyers this month. This month’s sellers are in competition for buyers and they should do everything within their power to convince buyers to choose their home over the others. 

Houston’s Segmented Single Family Home Results

This breakdown illustrates slower sales activity in Houston this month. The only price point with a sales’ increase is $150K-249K. In contrast, the luxury sector has seen no change this month.

  • $1 – $99,999: decreased 8.1 percent

  • $100,000 – $149,999: decreased 31.9 percent

  • $150,000 – $249,999: decreased 4.7 percent

  • $250,000 – $499,999: increased 0.7 percent

  • $500,000 – $749,999: decreased 4.7 percent

  • $750,000 and above: unchanged

What Does This Mean For You?

Buyers

  • Buyers in this month’s market should keep a lookout for homes with a price decrease. These sellers are more open to sale price negotiation.  Tell your realtor to look into the micro statistics for your preferred neighborhoods. so you do not pay a penny more than you should.

Sellers




‹ Back

Comments ():

Close