This is the first time in more than 3 years that the Fresh Report has been published where we are seeing an average sale price SLIGHTLY DECLINE from the previous year.
I will say, this day arriving is not a "surprise". The total housing inventory has been growing consistently for months and so we've seen this approaching on the horizon. Only time will tell if this will turn into movement that is more significant, but at the moment we're still essentially flat from last year's values.
Our average monthly sell rate in Houston is about 9-10,000 properties so to see more than 18,000 new listings hit the market last month, that is an indicator that inventory is still growing and the market could be shifting to favor buyers in the next year or two.
My theory about selling now versus 1 year from now is still in play. Now is the time if you need to go!
I am here to serve you when you have a Real Estate need. Give us a call when you are ready to talk about real estate.
