Did you hear U.S. home sales surged 9.6% in July? The Associated Press reports that for the fourth straight month home sales rise and the housing market shows continuing signs of rebounding.
Southeast Texas showed a similar trend. July's home sales were higher than June, May, and April. A total of 207 homes changes owners according to data recorded by the Beaumont MLS and sent to The Real Estate Center at Texas A&M.
Here's where homes are selling and the median price they sold for in July. Each area shown on the graph had at least two sales.
Here's how long its taking to sell a home on average in a given area.
Yes, the numbers get small and hard to read when we look at the whole Southeast Texas housing market. The good news is you can always call me to find out more about your neighborhood.
Here's five other insights you should know about July home sales:
- For the entire area it took an average of 110 days on the market to sell.
- The 207 sales divided by the current number of homes for sale (1383) gives Southeast Texas a 6.3 month supply of inventory. *Data from the Real Estate Center show 9.2 months. They must use a six month moving average.
- The median sales price for all homes that sold was $125,250
- Lumberton and Beaumont Westend (area 6) has the highest median sales prices for the month.
- Financing went as follows: FHA 83 sales, Conventional 72 sales, Cash 52.
The national median sales price of a home stands at $210,100 and inventory is down to a 7.5 month supply. With the summer selling season coming to an end, it will be interesting to see if home sales can continue the upward climb. Let me know what you think the August data will show. Comments are always welcome.
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