If you’ve been thinking it’s time to put your home on the market – you’re exactly right — and the numbers show it.
Meanwhile, Montgomery County continues to outpace the Houston region as a whole in terms of closed sales and median price increases. Buyer demand for homes, and a dwindling supply, continues to improve the options for homeowners thinking about listing their homes for sale.
Montgomery County home sales for April jumped 32.3 percent compared with last April, climbing from 535 to 708 homes sold. That compares favorably to the Houston region overall, which saw a 27.2 percent increase in homes sold for April, according to HAR. Homes selling between $80,000 and $250,000 registered the greatest increase in sales volume, according to HAR, and that tracks closely with Montgomery County, where the sweet spot for home sales hovers around $250,000 to $300,000.
The year-to-date numbers for Montgomery County are strong as well, rising 28.1 percent from 1,715 to 2,197 homes sold year to date in April.
With the inventory of available homes continuing to tighten, the result has been quicker sales and higher prices as demand for homes continues to grow, driven by population and job growth and low mortgage rates.
Meanwhile, within Montgomery County, The Woodlands and southwest Montgomery County continue to lead in terms of overall sales, median prices and the Days on Market (the average number of days a home will be on market before it is sold). But other regions showed a surge in the pace of sales in April. The Conroe/Northeast county area saw sales jump 60 percent in April, for example, while Lake Conroe area sales rose 39 percent compared with last April.
Meanwhile, in terms of median prices, all areas showed an increase of 10 percent or better compared with last April, with the exception of southeast Montgomery County, which saw its median prices fall. Here is a full chart of the Montgomery County April 2013 MLS Statistics.
The booming Houston region economy – we were the last in, and the first out, of the national recession – will continue to drive demand for housing, and until homebuilders can put up enough new homes to respond to that demand the value of existing homes will continue to soar in many areas of the county.