Sellers Market or a Buyers Market?
Sep/100
My last article questioned whether it is a Seller’s Market or a Buyer’s Market; it was determined that it indeed is a Buyer’s Market. Thought I would give a few statistics comparing closings (solds) for August, 2010 to closings (solds) for August, 2009.
MLS area 39 contains Lake Conroe area, north to the Walker County line, and west of I-45 almost to Plantersville. Area 15 consists of the area south of the San Jacinto River including the Woodlands, Oak Ridge North, Shenandoah, Magnolia, Pinehurst, etc. Area 19 encompasses Conroe proper, east almost to Fostoria along the San Jacinto County line, north to the Walker County line, and south to include Woodloch area. Area 40 includes the areas Splendora, Porter, Roman Forest, Patton Village east to the Liberty County line.
These stats were taken from the Houston Association of Realtors Multiple Listing Service and are deemed to be reliable. Some listings that sold in August, 2010, may not be closed in MLS, but these are the latest available!
Here are the stats:
AREA DATE SOLDS PRICE RANGE
39 August 2009 117 $37,900-$762,500
39 August 2010 77 $40,000-$842,500
15 August 2009 305 $14,000-$1,750,000
15 August 2010 241 $37,000-$2,500,000
19 August 2009 72 $32,000-$380,000
19 August 2010 57 $24,000-$415,000
40 August 2009 30 $34,500-$460,000
40 August 2010 31 $33,500-$755,000
Notice that the price sold in August, 2010 is higher than in August, 2009. That is GOOD NEWS!!
According to Dr. Mark Dotzour, Texas Real Estate Center at Texas A&M University, “When it comes to home price appreciation, Texas is standing strong.” Dr. Dotzour also says, “The strong price trends in Texas are because we didn’t have a price bubble in the previous decade.”
Over the years I have had Sellers compare our area to Arizona, Nevada, California prices and asking , “Why does Texas not appreciate like that?” For many years Texas prices increased a nominal 3 to 5 percent per year, while those areas mentioned increased 30 to 50 percent per year. Have you noticed what has happened to California, Nevada, Arizona prices? We need to get down on our knees and be ever so thankful that we live in this wonderful area.
Dr. Jim Gaines, Research Economist, maintains that, “Texas was one of only five states that reported increases in home prices during the past year.” As a matter of fact Texas was one of only five states where values had more than a 15 percent gain within the past five years.
In conclusion, let me say this-values are rising, buyers are buying, sellers want to sell-therefore, TIME IS OF THE ESSENCES to BUY or SELL!!!
Please e-mail questions to Kim at Kim@FrankeTeam.com. Kim is a member of the Marion Franke Team and a Top Producing REALTOR® in Montgomery County. Kim is a Buyers and an Accredited Luxury Home Specialist.
Article written for Marion Franke