SE Texas Real Estate Talk

Survey Reveals Why Buyers Are Waiting on Sidelines

Survey Reveals Why Buyers Are Waiting on Sidelines.

Southeast Texas Residential Home Sales Statistics for Oct. 2011

143 homes sold in Southeast Texas during the month of October, according to data from the Beaumont MLS.  The majority of these homes were financed by FHA mortgages (53), followed by conventional mortgages (46), cash (25), and VA (15). 

Take a look!

Noteworthy highlights:

• The average number of days on the market for the whole market is 147 which is just about five months. 
• The four areas that exceeded the average days on the market were:  Kountze, Vidor, Beaumont W5 and W6.
• The median price of all homes that sold was $135,000.
• The four areas that had a lower median price were:  Beaumont W3, Beaumont W5, Mauriceville, and Bridge City.

Sales from previous October's:

• 2010 = 150 sales
• 2009 = 165
• 2008 = 178
• 2007 = 185
• 2006 = 183
• 2005 = 86*

Not since 2005 have there been fewer home sales in the month of October.  If you were here in Southeast Texas in October 0f 2005 you can probably guess why home sales were so slow that month. 

The takeaway:

Home sales in Southeast Texas continue to lag behind the pace of previous years.  The number of days on the market it takes to sell a home is longer than before.  If you plan to sell your home in this market its more important than ever to know the data and understand the competition.  That's where an experienced REALTOR who is a local market expert can really help.  When you are ready to sell your Southeast Texas home contact me, let me show you how to make sure your home is one of the homes that sells.