An inside look at the residential real estate market in Southeast Texas including: the hottest neighborhoods, proven home selling strategies, home buying and negotiating tactics, median prices by neighborhood, average days homes are on the market, and professional advice on how to get the best deal when buying or selling a home.

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November 2010
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January 2011

December 2010

Texas Ranks #5 on Fastest Growing States List

Gator jumping

The U.S. Census Bureau released the following statistic: 

U.S. Population jumps 9.7%

Our very own beloved state of Texas landed in fifth position. 

Which states grew faster than Texas?

  1. Nevada
  2. Arizona
  3. Utah
  4. Idaho

Which states rounded out the top ten?

  1. North Carolina
  2. Georgia
  3. Florida
  4. Colorado
  5. South Carolina

All and all there are 308.74 million Americans.  That's an increase of almost 10% or about 27 million people. 

How does this all relate to Southeast Texas real estate? 

More people mean more homes will be needed.  Its a good sign for the residential real estate market.  If you are ready to put up that "for sale" sign and sell your home in 2011 call me to discuss a free marketing plan that will help you get your home sold.

 

 

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Median Home Price in Beaumont, Texas Remains Below National Average

Yes, Southeast Texas is one of the real estate markets where our median home price remains below the national average.  The median price of all homes that sold in November was $150,000.  While that doesn't put us in the "least expensive" real estate markets category, it does keep us in the 30% of market with a median home price below $200,000. 

Want more information on the Southeast Texas housing market?  Contact me.  Its easy.  Click the contact me link in the right column here on the blog.  All questions answered free of charge and with no obligation.

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Southeast Texas Real Estate Compared to a Broken Record

Broken record It's true.  There are times when it is hard not to sound like a broken record.  Especially when talking about homes sales in Southeast Texas for the past several months.  The homes sales statistics for November 2010 follow in line with the lack luster sales from September and October. 

"In fact, when researching the history of the Beaumont housing market, you have to go back to November 1998 to find a November with fewer homes sales." 

Want to check my data?  The Real Estate Center at Texas A&M keeps the most comprehensive data around.

So here's how it breaks down:

  • There were 117 sales in November
  • The average sales price was $154,760
  • Homes spent an average of 132 days on the market
  • There are a total of 1,638 homes for sale
  • There is 11 month supply of inventory for buyers to choose from

Now time travel with me back to November 1998:

  • There were 115 sales
  • The average sales price was $89,200
  • There were a total of 773 homes for sale
  • There was a 5.7 month supply of inventory for buyers to choose from

Call me the eternal optimist but here's the part of this post that sounds "unlike a broken record."  If you had bought a home in Beaumont Texas in 1998 and paid the median price of $89,200, that home would be worth almost double what you paid for it today.  Let's take that one step further. If you think that twelve years from now in 2022, homes that are selling for $154,760 today would be selling for $311,520 then it is an incredible time to buy a home.  Now tell some of your co-workers and friends that you read that it is an incredible time to buy a home.  They may say you sound crazy but you won't sound like a broken record. 

Final thought:  It really is a great time to buy.  Fill out the "contact me" form when you are ready to start your home search and I'll be glad to show you the best deals in town.

 

 

 

 

 

 

 

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Email Diane