What's Been Happening in the March Market This Year?

Houston Real Estate Podcast with Mike Gray

What's been happening in the real estate market here in Houston? The key numbers for March are in, and I wanted to talk a little bit about our market's growth so far this year.

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What's been happening the Houston market so far in March? I've got some key stats to share today.

The market has shown considerable strength this year and since we haven't really had much of a winter, I think the buying season has been pushed up a bit.

Each price segment in our market has shown an increase in February for the number of homes sold on a year over year basis. In fact, all segments above the $250,000 mark showed double-digit increases. Homes priced above $750,000 were up almost 28%.

Each price segment in our market has grown in February.

On average, prices climbed about 7% and days on market are up just a bit to about 64. Inventory, on the other hand, crept up a little bit to about 3.5 months worth of homes on the market, but we're still pretty low in some areas. Other areas have high levels of inventory. As you can see, due to Houston's size, we live like a group of smaller cities within an area, which is why you need to look at each area on an individual basis.

If we can help you with any of your real estate needs this spring, don't hesitate to give us a call or send us an email soon. We'd love to help you out!