Houston Market Update 2013

I get asked at least once a week about what’s happening in the Houston market. Our market is hot right now with the energy industry creating new jobs and a demand for homes. I expect us to be in a sellers market at least for the next 6-12 months.

The rate of sales has also increased by 14 percent from August of last year. Condo sales are up 30 percent. The average sold price is up 11 percent from last year.

We have seen a surge in buyer activity since the increase in interest rates. Buyers are trying to lock in the lowest rate.

Now is the time to buy and sell. If you wait the cost of building materials will increase, as well as interest rates. The average days on market is 100 days, so if you need to move in three months, make your move now!