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.
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.