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.