Top Agents always know what's happening in our local markets. That's why I've been waiting for this report to be released by the Beaumont Board of Realtors. It shows what I've been seeing and thinking.
The market was slow in May.
Take a look at points 1, 2 and 3 on the image above.
- 92% of the home sales were priced below $300,000 (not to uncommon for our local real estate market)
- Sales were down 19.8% in May compared to last year (um wow, that's big)
- Days to sell were up 6 days (not to concerned about this number)
Should we really be surprised with everything that has happened in the past few months. Covid. Social Distancing. Business Closures. They all have an impact on home sales.
Don't despair. It is not all doom and gloom. It's just an accurate look at what happened in the Beaumont housing market in May.
If you are thinking of buying a home in Beaumont, Texas (not to be confused with Beaumont, CA) this is probably your best opportunity in months. There is less competition among buyers for some really good houses.
If you are thinking about selling a home it is still a good time to sell (with patience). There is still a low level of inventory. Strategic Pricing and Marketing is more important than ever.
I'm still waiting on the typical summer home sales surge. Maybe it will happen in June. If you have any questions about real estate in Southeast Texas ask me.