The market goes nuts:
The Houston Real Estate news for February is that prices are up, inventory is down...
Average list price is up citywide more than 16% to almost $350,000.
Listing volume is way down with nearly 15,000 FEWER properties listed than were available the same month last year.
4 months supply of inventory is considered a "stable market" for buyers and sellers. As we go below that and the market begins to favor sellers.
At a current level of 1.6 months supply, we are at the lowest inventory level of all time in Houston Real Estate.
>> You can read the full report here. <<
We helped a buyer get a contract on a 700K+ Home this past weekend and we saw many of the houses we looked in that price range getting multiple offers.
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