As we push closer to the 4th quarter the Houston real estate market continues to stay strong for sellers. There not enough houses on the market to create competition and tons of people still wanting to buy a new house.
Let’s take a look at the number of new listings, Pending transactions, closings, and scheduled showings this past week (according to HAR).
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New Listings in Greater Houston
Housing inventory remains constrained across Houston’s real estate market but we did see a slight up tick this week in the number of new listings.
For the week ending September 21, new listings shot up 18.7% compared to last year. Houston Realtors entered 2,703 properties to the HAR.com compared to 2,277 last year.
Pending Listings in Greater Houston
Pending transactions continue to exceed last year’s volume and are up 24.6 % compared to 2019.
Closings in Greater Houston
Home closings in Houston real estate achieved a ninth straight positive week, soaring 35.4% compared to 2019.
Scheduled Showings
The number of appointments for property showings continues to surpass 2019 levels. For this past week they jumped 46.4% to 42,833 compared to 29,257 in 2019.
Listing Views on HAR
Overview
Over all, Houston’s real estate market is still very much a sellers market. The average days on the market in the League City area is 3 to 5 days depending on your neighborhood.
With increased demand, home values are also about 7% higher than this time last year.
If you are thinking about selling your home soon, now would be a great time to do that. Prices are at their highest level due to demand and the competition among buyers is fierce!
If you are in the market to buy a new home, you will need to make sure you are staying on top of new listings and making an offer as quickly as possible to avoid potential competition.
Also, make sure you are getting a pre-approval letter instead of a pre-qualification letter to make sure you stand out from other buyers.
Also, make sure you check out our ZeroPlus program to lock in the best rate on your next mortgage.