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.

Neighborhoods & Communities

Wednesday April 12th, Join Us for Lunch, Coldwell Banker Southern Homes is Collecting Shoes for Buckner

Buckner Flier

Most days we are out listing and selling homes all across Southeast Texas but on April 12th join us for lunch as we collect shoes for Buckner.  

Find out more about Buckner Click Here

And if you want to talk to a top local real estate agent while you are having lunch there will be plenty of us available.  

More shoe information:

All sizes are needed.  Closed toe is best.  Crocs or similar shoe is a great choice.

Sincerely,

Diane

 

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What's Been Selling in Vidor? 27 Homes Sales Since Jan. 1, 2016

The most expensive home to sell in Vidor so far in 2016 sold for $327,000.  The least expensive sold for $8,000.  

Here's a look at home sales broken down by price range:

Vidor Sales in 2016

Five other interesting facts about home sales in Vidor this year:

  1. The average price was $103,035
  2. The fewest number of days on the market was 38.  The average days to sell a home was 205 but that is high because of two sales that took more than a year to sell.
  3. The average cost per square foot of living space is $63.57 which is pulled down by 4 sales that sold for less than $25 per square foot.  (Also know as complete fixer uppers)
  4. There were also 4 homes that sold for over $90 per square foot.
  5. If you are looking for a great home in Vidor, check out my listing on 335-Slagle-Dr-Vidor-TX-77662-MLS-179660

 

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Boykin Homes Sales_ Lumberton, Texas

  Boykin sales 2014

One popular neighbor in Lumberton Texas, Boykin Place has had eleven (11)  homes sell so far this year.  The high price sale was $308,000 on Sir Kevin.  The low price sale was $170,000 on Boardwalk.  On average it has taken homes in Boykin Place 71 days to sell.  The minimum time on the market was 25 days and the maximum 133. 

Homes average $98.98 per square foot of living space with a high of $114.29 and a low of $83.61. 

Want to know what your home would sell for in today's market place?  Contact Diane McNelis, with Coldwell Banker Southern Homes for a professional home valuation. 

 

 

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Beaumont's West Neighborhoods: Where are the Most Home Sales?

So you've heard the real estate market is "not great" right now.  You've heard there is an excess supply of home inventory on the market.  You've heard all sort of negative news about the Southeast Texas housing market...

"Have you heard where the homes are selling?" 

Here's a look at the hottest selling neighborhoods in Beaumont's West-end since January 1, 2011. 

Sales by addition 

These are the additions as classified by their legal description.  Averill is over in the Oaks Historic area, including  Hazel, Ashley, Laurelstreets.  Barrington is Barrington Heights off Dowlen.  (If you live in Southeast Texas, you knew that one.)  Dawndale is W2 streets such as Moonmist and Stardust.  Gladys West is off Major, streets include Orchid, Bluebonnet, and Indian Blanket.  Tall Timber are the "wood streets" such as Ebonwood and Galewood. 

Three things worth noting about the "best selling neighborhoods in Beaumont"

  1. Newer neighborhoods - Barrington and Westchase have the highest sales prices.
  2. Of the established, older neighborhoods the Calder neighborhoods are out-selling the others.
  3. Tall Timbers has the closest range of sales prices with less than $1,000 separating all three home sales this year.

There's a lot more you can learn about the best selling neighborhoods in Beaumont.  If you are interested in buying or selling a home here in Beaumont or any part of Southeast Texas, professional advice is one call away. Call me and let me help you make your next real estate decision your best one yet. 

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Beaumont and Mid-County Residential Home Sales Data for Jan. 2011

Old man winter sure knows how to put a damper on home sales.  Not that January is know as a hot month for residential sales activity here in Southeast Texas, but this winter has started off on icy ground.  Here's what the data looks like:

Jan_data 

What jumps out at you?  Take a look at days on the market.  Beaumont home sellers are now averaging over five months of marketing time prior to a home sale.  In Mid-County home sellers are averaging over six months prior to sale. 

The market is heavily weighed on the entry level properties.  33% of home sales were under $100,000 in Beaumont's housing market and 51% were under a $100,000 in Mid-County. 

The upper end of the housing market in Southeast Texas is still lagging the normal pace.  Just 14% of the home sales recorded in the Beaumont MLS were homes priced at $250,000 and above.  In Mid-County it was 7%.

So after reading this you may deem me a pessimist.  That would be wrong.  I'm a optimist.  When a market slows this much it is getting ready for a rebound.  Spring time is just around the corner. 

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Southeast Texas Neighborhoods with the Most Home Sales in 2010

2010 most sales 

It won't go down in the record books as a great year for home sales in Southeast Texas but in case you are wondering which neighborhoods, towns and communities did have the highest number of home sales the chart above shows you the best of the best. 

Five things to think about:

  1. Each area averaged over 100 days for homes to be on the market.  (Note to self, if you are planning to sell, you'll probably want to plan on at least a four month marketing time.)
  2. Most buyers used FHA financing (640), 2nd place Conventional (625), third place Cash (506).
  3. 1,962 is the total number of residential home sales in Southeast Texas for 2010.
  4. Less than 2% were homes priced above $500,000.
  5. Of the 1,962 single family homes that sold:  38 wer mobil homes,  3 were modular homes and  9 were patio homes. 

Now for the answer to the question, "Did more homes sell in 2009 or 2010?"  More homes sold in 2009.  As mentioned earlier 2010 won't go down in the record books as a great year for home sales in Southeast Texas but in case you are wondering, 2011 looks like it might be. 

Call me if you would like more information about the Southeast Texas residential housing market. 

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Southeast Texas Residential Real Estate Report for Fairfield

Fairfield 

A popular neighborhood located in Beaumont's west-end of town right off Major Drive is Fairfield.  Its a newer neighborhood. There are just two streets with homes complete: Canyon and Grayson.  Prices range from the 200's to 300's.  Most homes average about $112.51 per square feet of living space. 

Another interesting market detail is that sellers in Fairfield are averaging 98% of their asking price for the sales price of their homes.  Its a mixture of new construction and resales that have sold so far in 2010.  With five homes currently on the market, seven sales this year, and one pending the months supply of inventory is worth paying attention to.  At the same sales pace there is a little less than 10 months supply on the market but with such a smaller number of homes in Fairfield one or two sales or new listings can really swing the supply of inventory. 

Home prices have held fairly steady in Fairfield this year.  As long as Trademark homes doesn't start building too many or discounting their prices for new construction expect the prices to remain consistent.  If you are looking for distressed sales, REO's or short sales so far Fairfield has been immune from that trouble. 

Want to know more about Fairfield homes or homes in any other Southeast Texas neighborhood?  All you have to do is contact me.  It pays to be informed.

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Snapshot of Barrington Heights Residential Housing Market

One of Southeast Texas's most popular neighborhood continues to be Barrington Heights.  With its excellent location, a selection of homes built by the areas top home builders, and outstanding school track, its no wonder that even in a less than stellar real estate market Barrington Heights is still a popular place to buy a home in Southeast Texas. 

Take a look at these key market trends in Barrington Heights.

Barrington 

As of today there have been 19 homes that have sold in Barrington Heights this year.  Sellers have averaged close to their asking price in all but a few transactions.  One sale went for 83% of the original asking price after spending 175 days on the market but most sellers averaged 95% of their original asking price. 

Right now there are 14 homes for the prospective home buyer to choose from in Barrington.  That is higher than the norm.  It represents over a six month supply of homes for sale at the current time which is unusual for such a popular neighborhood.  Take into account that Southeast Texas as a whole has close to a 12 month supply of inventory, Barrington is still in better shape than most neighborhoods. 

As you might expect the older homes in the neighborhood sell for less than the new construction or homes that are less than 5 years old.  For a newer home plan on an asking price over $110/SF.  How much negotiation room is in that asking price is hard to say.  Last year homes in Barrington would never have sold for less than $100/SF but so far this year there have been several. 

If you are looking to move and you want to find a home in one of Southeast Texas's most popular neighborhoods you are in luck. Its a great time to buy a home in Barrington Heights. 

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August Home Sales in Beaumont, Texas and The Golden Triangle

Last post was a little scary for those of us in the real estate business and those home owners trying to sell their homes.  August home sales were the lowest in total number over the past five year period.  Interestingly enough, several neighborhoods in Southeast Texas are still holding their own when it comes to sales prices. 

This is good news for home sellers in the Beaumont, Nederland, Groves, Lumberton and several other Southeast Texas communities.   Take a look at the chart.  You will see area, then the percent of the asking price the sellers in that area sold their homes for, and then the number of days on the market. 

Aug_% and area
Coming out on top is Nederland where sellers averaged 97% of their asking price for the homes that closed in August.  Those homes spent an average of 65 days on the market.  Not bad when the overall average days on the market for Southeast Texas homes is now at 122 days. 

The data on this chart is from the Beaumont MLS.  Areas with less than two homes sales in the month of August were not included.  Soon we will know September's home sales.  September is usually one of the slowest months for home sales during the year. 

Want more information about the Southeast Texas residential housing market?  Contact me.  I'll be glad to share.
 

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Southeast Texas Home Sales Data: May 2010

July is just around the corner! 

Here's one last look at the Southeast Texas residential housing market for the month of May.  Enjoy the Fourth of July weekend and when we all get back to the office Tuesday, check the blog for the Southeast Texas residential home sales data for June.

May Sales1

Its nice to see some movement in the high price points.  Seven homes sold for $400,000 or more.  The entry level price points still rule the market. More than half of the MLS areas had a median sales price of less than $100,000.  Only four areas had a median sales price of over $200,000.  The lucky areas: Fannett, Orangefield, Sour Lake and Tyler County. 

Happy Fourth of July!

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