Nearly every industry across the world has been affected by the pandemic in one way or another. The real estate industry is no different, and we’ve found ourselves in a completely different situation than we would typically expect for a Texas Summer. So where do things lay? Is now a good time to buy or sell? And can we expect fair (and normal) pricing for homes across the market? No matter what you may have heard, you can’t argue with the cold, hard facts!
In June, homes in The Woodlands/North Houston area sold for an average price of 383K, up 7.6% from the previous year.
This statistic alone proves that now is the time to review your options. When the lockdown slowed the housing market in April, many home sellers and buyers were forced to postpone their moves, and wait until a later date. As the state has re-opened, a much larger number of home sellers and buyers alike have entered the market. That has increased the demand for sellers in this area by much more than expected. So you may be able to get more than you’d think for your home in this area!
Homes are moving fast, with an average of only 22 days on the market in the North Houston area.
Despite uncertain circumstances, the real estate economy is flying in full force. That means that now is the time to act. There are plenty of eager individuals looking to make progress fast, and the market is moving quickly, so now is the time to start reviewing your options! And all in all, 22 days is only the general average. Like we discussed in our last blog we recently sold two homes in less than three days. One of which sold for $13,000 over the listing price.
According to the Houston Association of Realtors, property sales have increased by 18.3% in June 2020, as compared to June 2019.
The idea that the real estate market is currently on hold couldn’t be farther from the truth. Across the board, things are still trucking right along, much faster than normal actually. There are plenty of opportunities to be had, and there are plenty of people capitalizing on the hot market. Finding out your options can help you get the best return on your investment possible, so if you’ve been thinking about selling or buying a home, we can help!