The Southeast Texas Residential Real Estate Market is entering the busiest time of the year for home sales. More homes sell between May-July than any other three month period.
The median priced home in Southeast Texas is approximately $140,000. Of the 3011 Single Family Homes that sold in Southeast Texas during the past 12 months (May 4, 2017- May 4, 2016), 35 of them were priced at or over $500,000.
The luxury housing market in Beaumont makes up a small portion of the market. Overall only about 10% of all home sales in Southeast Texas fall into the Luxury price points. Sometimes its fun to see what homes have sold in the upper prices.
This chart shows:
- There were 35 homes that sold, closed priced at or over $500,000 in the past 12 months.
- These luxury homes averaged 130 days on the market.
- Sellers received 94% of their asking price on average.
- Over half the luxury home sales in Southeast Texas occurred in Beaumont.
- 26 of the 35 used conventional financing, while 6 paid cash.
If you are interested in more information about the Southeast Texas Housing Market contact me. I help clients sell and buy homes in all price ranges.