HAR just released the full market report for the month of March. Property sale prices are up 3.7% from March of 2024 and we actually sold 76 more properties than the same month last year.
This upward value trend has been creeping along for the last 3 years even while the overall inventory has been slowly growing. You can see we've gone from a 3.4 month supply of homes last year to a 4.6 month supply of homes right now.
4-6 months of inventory is considered a stable market. so you can see we have climbed out of a "seller's market" a year ago into a more balanced market now. If this trend continues with more homes listing than selling, we could eventually find inventory level moving us into a buyer's market. At the rate we appear to be trending with inventory over the last year, that could still be more than a year away, but it's not hard to see it approaching in the distance.
If you have a near term plan that involves selling a piece of Real Estate, this is the best possible time to do it. If you have a long term plan to hold your Real Estate, you know I am bullish on Houston and I don't think you can go wrong there either.
But if you're considering selling now versus 1 year from now? Based on the inventory growth data, the better option appears to be right now.
Give us a call if you have a question about the market or an upcoming need. We love our jobs and can not wait to help you!
