I am proud to boast that Energy Realty currently has over 60 listings in our inventory! This is a clear indication that our agents are doing a fantastic job getting the listings, but it is also an indication that it is taking longer to sell/lease these listings.
Despite what the media may present, many neighborhoods in Houston have a glut of homes for sale. When driving through some neighborhoods in Katy and inside the loop, it looks like a fire sale with a For Sale sign on every other house. According to the Houston Association of Realtor’s report for June, inventory levels rose to 3.7 months supply, which is higher than we have seen in years.
While two years ago, homes sold in less than a week in most cases, the average market time to sell a house is 90 days, and we are back to a more normal market time. The biggest adjustment both home sellers and Realtors alike are having to make is to accept that it may take 90 days or more to sell a home in this market.
Home sales for homes priced between $100,000-$500,000 remain strong in most neighborhoods, but the higher range continues to move slower. However, even that market is unpredictable. If a home is fully updated or offers another outstanding feature, such as a spectacular yard, it can still sell fast. I have even seen multiple offers in the higher price range in some cases! But there are no guarantees, so it is best to price your home correctly and make sure it shows well and is in good repair. This is one of the most finicky markets I have seen!