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Spring 2012 Market Update
If you can qualify, now is an exceptional time to buy a home in Memorial Houston. Low rates with falling home prices makes a home purchase a great value! Call now for more information at 832-715-7622
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| Average Home Price | $550,000 - View Graph Trend |
| Average Price Compared to Last Year | Up 5-10% |
| Average Time on Market | 90-120 days |
| Best Selling Price Range | $500,000 - $549,000 |
| Worst Selling Price Range | $500,000 - $549,000 |
| Prices As % of Asking Price | 90-95% |
| Existing Home Prices for the past 90 days are? | No Change |
| Market Trend | No Change |
| Buyers’ or Sellers’ Market | More sellers than buyers |
| Buyer Activity for the past 90 days in Memorial Houston is | No Change |
| Seller Activity for the past 90 days in Memorial Houston is? | No Change |
| Multiple Offers? | Yes |
| Multiple Offers Commentary | The Memorial area is city within the city. Some sellers get multiple offers and some do not. A very specific market analysis is the key to success in Memorial area. |
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 20-25% |
| Is Financing Available For Qualified Buyers? | Yes |
| Housing Inventory | Very tight market |
| Inventory Comments | Memorial Houston is a city within the city. Has a variety of homes, all price ranges. Homes available in certain categories are far fewer than the others. The average statistics does not reflect specifc market or village within memorial. I do individalized market analysis for each buyer and each seller. |
| Greatest Activity | Repeat Buyers |
| Reason to Buy/Sell | Lower prices with good selection and competitive interest rates creates a perfect time to buy in Memorial Houston! |
| Nearest Metro Area | Memorial, Galleria |
| Housing Hot Spots | Most cities within the Harris County area are considered 'Housing Hotspots' |
| Average Sold Price | $550,000 - View Graph Trend |
Memorial Houston Local News
Agent quarterly survey shows growing optimism toward a housing market recovery
End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.
Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.
Click here for full article...
End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.
Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.
Click here for full article...
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Mortgage Rates
– May 28th, 2012 –
---------------------------------
30 yr. fixed rate: 3.82%---------------------------------
15 yr. fixed rate: 3.11%
30 yr. jumbo rate: 4.38%
15 yr. jumbo rate: 3.61%
Home Values
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