HAR just published the FRESH Report for the month of November.
New listing volume is up quite a bit with almost 10,000 new properties listed last month.
Total listing inventory has grown to just about 25,000 homes available and we're finally pulling very close to some of the numbers from 4 years ago when there were 26,257 active listings.
List prices are essentially flat year over year at a 0.1% increase to an average list price city wide of $417,155. This is below our all time record list price of $441,748 back in May of this year. The interest rates are definitely taking a toll on demand and were seeing that affect list prices.
The 4 year price increase is still incredible at over a $100K added to the average list price from when it was $309,496 in November of 2019.
Real Estate is truly cyclical and you can see we are heading out of the seller frenzy and into more stable market for the time being.
I believe this is the time where you begin to stockpile your investment funds and prepare to acquire new investments in anticipation of the next upward cycle.
If you would like to talk about your real estate options give us a call today!
And use our website for your property search - check out homes for sale in Katy Texas here.
