A seller’s market is defined as a scenario in which there is not enough home inventory to meet the needs of buyers. (A normal amount of home inventory is about a six-month supply.) 2015 was a record year because of the vitality of the local economy. Sales are more than likely going to normalize this year, but Houston will still have a very solid market.
One major factor that contributed to the lower inventory numbers last year is the number of new jobs available in Houston. There’s been a significant uptick in people moving to the Houston area over the last year. There’s jobs, space, and plenty of opportunities. Sure, there are people concerned about oil prices, but we’ve got the Texas Medical Center and the Port of Houston here to keep the local economy vitalized.
This has created an excellent opportunity for sellers right now, since the market price of homes is dictated by availability. In fact, due to the high demand for houses, some sellers in the area have had to find a new place to live much quicker than they thought.
If you’re thinking about selling, now is the time to assess what your goal is and start working with a Krueger Real Estate agent. Properties inside the loop are here today and gone tomorrow, and that same mentality is extending out into the suburbs. One of our agents will work quickly and diligently to make sure you get the best price for your home in the shortest time possible.
Want more information about how #KRESells? Contact us here.