This week the Beaumont Enterprise ran a feature article that said homes in Southeast Texas will gain more value than homes in any other market in 2010.
We love press like that! Confidence affects the housing market. When people are confident about their jobs, the economy, the housing market, they buy stuff. That includes houses.
But the truth of the matter is our market has strong segments and it has weak segments. Today, here's a inside look at the weaker segment. Homes priced above $300,000.
By the numbers homes above $300,000:
Fannett has 10 homes for sale. 1 closed in the past ninety days.
Lumberton has 26 for sale. 5 closed in the past ninety days.
Orange Co. has 10 for sale. 2 closed in the past ninety days.
You get the picture. If you are buying a upper end home you will have a good selection to choose from. If you are selling one, there is an excess of inventory available in most areas right now.
Here's three other things to know about the residential housing market segment of homes $300,000 and above:
- There are 203 active listings in the Beaumont MLS. 33 closed since Aug. 1, 2009
- On average they spent 86 days on the market which is not that long. The best of the bunch still sell pretty fast.
- The fastest selling area was Beaumont W6 (don't know where that is? call me). Those homes averaged less than 30 days on the market.
So, really how is the Southeast Texas housing market? Now, you know a little more about the true picture in the upper segment. Next week, a look at the hottest price range $100,000-$200,000.
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