Give Me the SHORT Version of What Key Elements WILL Sell or HINDER the Sale of My Home

 

  1. Layout & Size- Is Your Home Open?  What about the Sizes of the Rooms?
  2. Location- Is it close to Public Transit, Shopping, and how about the Quality of Schools?
  3. Condition & Age-Have You Kept Up Your Home?  Don’t Forget Yearly Routine Maintenance!
  4. Upgrades- Don’t Over Improve!
  5. Unfortunate Occurrences- Past Disasters can also Have a Negative Effect

Home Prices are JUMPING again in the Houston/Katy/Richmond Areas!

 According to the National Association of Realtors, Houston’s housing market refuses to lie down and take it. After the first decline in three years in May, home sales charged back into the black in June, most likely the result of an increase in new listings of properties. Those new listings may finally be helping feed the voracious appetites of home buyers who have been stymied by the lowest inventory levels in 40 years.

While inventory improved slightly to a 2.9-months supply, the month of May also saw home prices reach new record highs, with sales among homes priced between $250,000 and $500,000 showing the greatest strength. Days on Market, or the number of days a home takes to sell, reached the lowest level of all time – 46.

Single-family home sales totaled 7,553 units in June, up 4.5 percent compared to June 2013, according to the latest monthly report prepared by the Houston Association of Realtors (HAR). New listings rose 6.7 percent, helping nudge inventory up from May’s 2.8-months supply to 2.9 months. However, that is still lower than the 3.3-months supply of inventory in June 2013 and significantly below the national supply of 5.6 months of inventory.

The average price of a single-family home jumped 6.6 percent year-over-year to $283,697. The median price—the figure at which half the homes sold for more and half for less—soared 11.3 percent to $214,000. Both are historic highs for Houston.

“June’s positive sales performance is a testament to the strength of the Houston housing market,” said HAR Chair Chaille Ralph with Heritage Texas Properties. “We were thrilled to see home sales rebound after May’s decline and we hope that as new listings come onto the market and home construction continues, inventory levels will rise to a point where we can truly say that balance has been restored.”

Foreclosure property sales reported in the HAR Multiple Listing Service (MLS) fell again, diving 46.6 percent compared to June 2013. Foreclosures now comprise just 4.4 percent of all property sales, down from an 8.4 percent share a year earlier. The median price of foreclosures jumped 20.0 percent to $108,000.

June sales of all property types totaled 9,099 units, a 5.3-percent increase compared to the same month last year. Total dollar volume for properties sold rose 12.9 percent to $2.4 billion versus $2.2 billion a year earlier.

It’s still a GREAT time to sell in the Houston/Katy/Richmond areas!  Please let Candice and Associates know how we can assist you with your real estate needs.

Changes in the Grand Lakes Market Place in Katy, TX Which Signal MORE Positive Growth!

In early October, the Grand Lakes Market Place, made up of high-end shopping attractions, including Whole Foods, World Market, Stein Mart, Verizon and other high end boutiques, was acquired by Jones Lang LaSalle.

When completed, this property will be able to hold 21 tenants with the average lease being 12 years.

This is yet another sign of Katy’s robust economy which is attracting high end businesses to the Katy area and providing jobs to our local residents.

Summer is Over and Fall is Here…The Real Estate Market is Slowing? DON’T BET ON IT!

There are NO signs of a slowdown in the real estate market now that Fall is upon us!  We’ve just had our 27th month of positive home sales here in the Houston/Katy/ Richmond areas…..

According to the most recent monthly statistics prepared by HAR, Houston Association of REALTORS, home sales increased 16.2 % year-over-year, with buyers closing on 7,504 single-family homes. Monthly home sales volume is now above the 7,000 mark for four months in a row, matching levels that we saw in the spring of 2007.  When you look at the median price of a single family homes, we see an increase of 12.8%

We are thriving here in Katy and Richmond.  If you would like for information about the latest real estate statistics, don’t hesitate to let me know!