Another sign that the Southeast Texas housing market is picking up pace with the spring buying season is our average days on the market is declining. We had been up to 120 days at one point earlier this winter. The latest data released by the Beaumont MLS shows the average number of days a home was on the market in April was ninety-nine.
"What else happened in April?" Well, here's a few noteworthy home sales statistics for you.
- Of the 176 closings, about 1/3 of them were on the market over 120 days.
- About 1/10 were on the market less than thirty days.
- There were 59 conventional loans used to purchase homes. At this time two years ago almost everyone would have been using conventional financing. Not so today.
- There were 57 buyers who paid cash.
- There were 48 buyers who went through the FHA to get their loan.
- Three buyers used the Texas Veterans Program to get their loan. If you are a Texas Veteran check this program out.
- 1,376 is the current number of homes for sale in Southeast Texas. But if one sells today, this number will change.
May is more than half way over. Where does the time go? As of the most recent data we already have more pendings this month than we had closings in April. Don't you just love spring?
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