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.

Market Statistics

Silsbee, Vidor, and Orange Home Sales Summer 2018

Let's continue with yesterday's post about the ten Southeast Texas residential areas with the highest number of home sales this summer.  Today, Silsbee home sales, Vidor home sales, and Orange home sales are shown on the chart.  

Summer sales compare 3

 

You might notice the average sales price in these three areas is quite a bit lower than the average sales price in Lumberton, Orangefield and Bridge City.  Keep in mind Vidor and Orange had a substantially large number of homes flood during Hurricane Harvey.  The sales of flooded and gutted homes at low prices is bringing down the average sales price.  

Of the 1o55 total homes sales from June 1 - Sept. 15, 2018, the average sales price was $179,294 and the average days on the market was 121.  

Which area or neighborhood of Southeast Texas are you most interested in?  Let me know in the comments and I will share some market data for you.

Sincerely,

Diane

 

 

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1055 Homes Sold in Southeast Texas this Summer

It was busy summer!  At least it was busy home sales.  According to data in the Southeast Texas MLS, 1055 single family homes sold between June 1, 2018 - September 15, 2018.  There were ten Southeast Texas market areas that had over twenty homes sell. 

Take a look at where the most homes sold.

Summer Home Sales 2018

 

 

 

 

 

 

 

 

 

 

 

The chart shows the number of homes that closed, the average sales price and the average number of days the homes were on the market.  Today the chart shows Bridge City home sales, Lumberton home sales, and Orangefield home sales.  

Other areas in Southeast Texas with more than twenty homes sales this summer:

  1. Silsbee 22
  2. Vidor 43
  3. Beaumont W4  44
  4. Beaumont W5  26
  5. Beaumont W6  41
  6. Beaumont N6  69
  7. Orange  49

More about the average sales prices and average days on the market in those areas later this week.  If you are thinking of buying or selling a home in Southeast Texas before the end of the year, knowledge is powerful.  If you are interested in a certain neighborhood comment below, call or text me and I will be glad to help you find out what the prices, trends, days on the market are before you make a decision.  

Until next time,

Diane

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Beaumont, Texas Home Prices Up 11.1% in 1st Q 2018

Home Sales in the 1st Quarter of 2018 

  • 225 Homes were sold.  4.3% less than the 1st Q of 2017
  • Median price was $149,950.  That's an 11.1% increase from the 1st Q of 2017.
  • Inventory is very low at only 2.2 months supply.   Balanced markets have about 6 months supply.

Beaumont Housing Report March

Takeaways for buyers: 

There is a lot of competition for the limited number of homes on the market.  You will want to know as soon as a new home hits the MLS.  Your Realtor can set up a listing notifier for you.  Be prepared to see a home in the first day or two its on the market if you want to have a chance at getting the home.  Be prepared to come in at your best offer and in some cases be ready for to compete in a multiple offer situation.

Takeaways for sellers:  

If you are considering selling your home this is a great time.  There are more buyers in the market for "move in ready" homes than there are homes available.  Its a sellers market.  What to find out what the value of your home is in this market, call me.  A professional market analysis is a service I provide.  No cost or obligation to list.   If you have real estate questions, I'm happy to help. 

Sincerely,

Diane

 

 

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Median Home Price in Orange County, Texas, February 2018

Feb Housing Report Orange Co

It is safe to say home prices in all parts of Orange County, Texas are still being affected by Hurricane Harvey.  More than half of the homes that closed in the month of February were sold for less than $100,000. 

What this image doesn't show is the number of flooded and gutted homes that sold vs the number of move in ready homes that sold.  Here's some other Orange County Homes Sales Stats:

  • Home prices are down 21% from last February 
  • The number of homes that closed this February is also down 21% from last February
  • The number of homes for sale is also down 21%.  

For buyers its a hard time to find a "move in ready" home in Orangefield, Vidor, Little Cypress and Mauriceville.   Seven months since Hurricane Harvey flooded close to 80% of the homes people are still rebuilding.  That limits the availability of homes for sale.  We are just now seeing the first remodeled and repaired homes hitting the market.   

If you are planing to buy or sell a home in any Orange County neighbor, I'm happy to help.  

Sincerely,

Diane

#409Sold.com

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Its Hard Finding Homes For Sale in Vidor and Little Cypress, Texas

Have you been looking to buy a home in Vidor, Little Cypress, or Mauriceville?  You are probably getting frustrated.  Take look at the latest home sales data from the SE Texas Board of Realtors.

Currently there are 83 homes listed for sale in Vidor and Little Cypress.  When you take out those that are being  sold "as is" with flood damage the number drops to 56.  

Priced between $80,000-$200,000 the number of homes for sale drops even further to just 22.  

My advice to sellers:  If you are thinking about selling there will never be a better time than this spring.  

My advice to buyers: Be ready to act fast.  The best homes hitting the market are selling within days.  You need to get pre-approved for a loan and be ready to make an offer as soon as you find a home you really like.  Its a tough market out there because of the shortage of homes available.  

If you have any questions about selling or buying a home in Vidor or Little Cypress, Let's talk.

Sincerely,

Diane

Orange Co Jan

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July Home Sales in Southeast Texas. Home Sales by Price Range.

July Sales by price range

July Sales by price range table

 

 

 

 

 

 

 

 

 

 

 

 

The busiest price ranges for the month of July were:

  • 38 Sales $200,000-$249,999 
  • 35 Sales    $120,000-$139,999

Other Interesting Statistics:

  • There were a total of 286 homes sold and closed in the month of July in Southeast Texas. 
  • 95 Days on the market was the average time it took for these homes to sell. 
  • $174,467 was the average sales price.

 

If you have any questions about the Southeast Texas Residential Real Estate Market ask me.

Sincerely,

Diane

 

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5 Things to Know about Home Sales in Little Cypress CISD

Sales Little Cypress

 

 

 

If you are thinking about buying or selling a home in the Little Cypress CISD, here's the top five things to know about home sales during the past three months. 

  1.  Home sellers of single family homes managed to get 97% of their asking price on average.  
  2.  76 days was the median number of days it took to a sell home.
  3. $169,351 was the average sales price of a home in Little Cypress this summer.
  4. 14 homes sold for less than $100,000 while 6 sold for over $250,000.
  5. The price per square foot ranged from $24.67 up to $124.29 with a median of $84.20

How do you know what the current market value of a home in Little Cypress is?  Call me.  As a local professional Realtor, I have access to all the sales.  Determining which home sales are the most similar to your home is critical in setting the right price.  

Sincerely,

Diane

 

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Beaumont Homes Sales, Median Price in June is $137,000

June is usually one of the busiest months for home sales in Southeast Texas.  June 2017 is no different.  According to the Southeast Texas MLS, 350 homes closed in the month of June.   This is the highest number of sales in a given month this year. 

June Beaumont Report

 

 

The photo above shows the percentage of homes that sold in each price range for the month.  By far the largest percentage of sales were in the $100,000-$199,999 price range.  

  • Approximately 75% of the homes sales in Beaumont, TX for the month of June were homes priced under $200,000.
  • In the entire Southeast Texas market covered by the Southeast Texas MLS only 10.8% of home sales were homes priced over $300,000.  (37 of 350 sales).

What we are seeing  in the market is a high demand in the under $200,000 priced homes and a shortage of homes.  It is the opposite in the upper price ranges.  There has been less demand in the higher priced homes over $300,000 and fewer buyers in this price point.  

The takeaway - while it is a sellers market in the lower price points, it is a buyers market in the higher prices.  

Its a tricky market and its important to work with a professional realtor who has access to the critical home sales data.  If you are looking to buy or sell a home in Southeast Texas, let me help.

Sincerely,

Diane

 

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Home Sales in Southeast Texas, 3 Year Graph

This is a graph you can find on the Housing Activity Page of the Real Estate Center at Texas A&M's website.

T A&M chart

This chart is for the Beaumont - Port Arthur area.  If you haven't looked the the Real Estate Center website before you should take a look.  They track home sales activity around the state of Texas.  Its always good to know what trends are taking place before you buy or sell a home.  Its also a good idea to work with a local professional Realtor who stays on top of the changes in the residential real estate market. 

If you are thinking about buying or selling a home in Southeast Texas- email me.  Its easy.  The link is right below this post.

Sincerely,

Diane 

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Median Home Sales Prices in Beaumont's WestEnd and Lumberton

Median price beaumont lumberton

  • 121 homes have sold in Lumberton since Jan. 1, 2017
  • The median sales price was $199,900
  • Homes averaged 87 days on the market
  • 178 homes have sold in Beaumont's WestEnd neighborhoods.  (W2 and W4 for the agents out there.) 
  • The median sales price was $194,250
  • Homes averaged 94 days on the market

What I find interesting is the median list price is much higher in both areas than the median sold price.  It shows that we are having a lot more buying activity in the lower end price range than we are in the upper price ranges.  Its not necessarily something to worry about as most families with children relocate in the summer.  If we follow normal patterns we will see the median sales prices rise during the summer months.

Curious about the SE Texas residential real estate market?  Email me, call or text.  The email link is new on the blog and a super easy way to reach me.  I'm happy to help with all your SE Texas real estate questions.

Sincerely,

Diane

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