July 2017 Houston Market Update

Last month we saw 13,415 homes come on the market for a total of 29,080 homes available in the month of June, of with 7,977 homes sold. We are currently seeing 3.6 months of inventory down from last month’s 4.1. Months of Inventory is a stat based on the assumption that if no new homes came on the market, how quickly everything available today would sell. It helps to gauge the strength of real estate market and it will vary too depending on the price point. Houston saw an average sales price of $303,516 and the middle of the market was 269,000, both of which are way up from last month.

If you’re thinking about buying, now is the time! Mortgage rates on a 30-year loan are sticking right now around 4%, which is still at an all-time low! Mortgage rates are still trending up and expected to continue rising so if you’re thinking about buying now is the time! If you’re thinking about buying, I want to give you my buyer secrets guide. Shoot me an email and I’ll get that over to you!

The Summer selling season is in full swing now that were into July, with the average home sold last month in 46 days, down from 50 days just last month. If you’re thinking about selling its not too late to get your home on the market! I have a great guide for you guys too on preparing your home for sale and it will make you more money and help you sell your home in less time. Shoot me an email and I’ll get it over to you!

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