Driving around town how many "For Sale" signs do you see?
A lot? A few?
An interesting point was brought to my attention this week. It has to do with the months supply of inventory in the Beaumont MLS. Our inventory numbers have grown since last year. About this time in 2007 there were under 1,000 listings. Starting off 2008, there are over 1,200.
A logical person would think we have more homes for sale. The point that was brought to my attention is we have more homes from nearby areas being added to the Beaumont MLS.
Hum. Interesting point.
The number of homes listed in Lumberton, Orange, Groves, Vidor, Port Neches and other neighboring communities has gone up. In fact there are over 100 homes for sale in Lumberton. Those homes are included in the Beaumont housing figures.
Let's stop and take a deeper look at the number of homes for sale in Beaumont's west-end.
The west-end is often considered the most desirable area to reside. Homes hold their values. The schools are good. Shopping is nearby.
- To break it down* there are a total 268 homes for sale.
- 54 priced from $0 - $99,999
- 95 priced from $100,000- $200,000
- 94 priced from $200,001- $499,999
- 24 priced from $500,000 - $2,000,000
- *Figures from the Beaumont MLS as of today.
268 homes for sale. Does that seem like a lot?
Price ranges are one limiting factor in home buying. If you want a certain part of the west-end you limit yourself more. Take the median sales price in Beaumont $150,000. Say, you want to spend between $100,000 - $200,000, here's what you have to look at:
- W1 = 6 homes for sale.
- Approximate area is E. of 1-10 stretching to the Nueches River by Riverfront park. S. of 1-10 where it turns E. heading toward Rose City, and N. of the railroad tracks.
- W2 = 37 homes for sale.
- Approximate area is N. of Calder, E. of Dowlen, S. of Eastex Fwy, and W. of the intersection Eastex and I-10.
- W3 = 9 homes for sale.
- Approximate area is N. of College St., E. of Beaumont's municipal airport, S. of Phelan, and W. of 1-10.
- W4 = 21 homes for sale.
- Approximate area is N. of Phelan, E. of the Port Arthur Fresh Water Canal, S. of Folsom, and W. of Dowlen.
- W5 = 15 homes for sale.
- Approximate area is W. Jefferson County with a Beaumont City address
- W6 = 7 homes for sale.
- Approximate area is S. of College, W. of I-10, Washington Blvd runs through it, so does Major Drive.
37 homes for sale. Does that seem like a lot?
Shopping in the upper end, above $500,000, you'll be looking at homes in the area local REALTOR's refer to as W2. 19 of the 24 homes for sale in this price range are located there. It is home to some of the ritziest neighborhoods in town: Metropolitan Park, Montclaire, Barrington Heights, Bellechase.
24 homes for sale. That does not seem like a lot.
Numbers can be analyzed until you are blue in the face. It is worth taking note, when home buying give yourself enough time to find the home that you want. If you have to rush to purchase a home you may find there's not as much for sale as you originally thought.
Driving around town and seeing all those For Sale signs can be a little misleading. That's why it's a good idea to stop! And take a deeper look.
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