Let's start with the July Homes Sales data that was just released by the Beaumont Board of Realtors. This infographic shows Beaumont home sales this July compared to last July. July 2019 and 2020 don't show a big difference.
Here's what I see being a local Realtor with over ten years experience in the Southeast Texas Real Estate Market.
- The change in Median price fluctuates up and down pending on the price range of homes sold in a given month.
- 88% of homes that closed in July sold for $299,999 or less.
- 45% of homes that closed in July sold between $100,000-$199,999.
- The number of closings was up 8% from last July.
- Inventory remains historically low.
A balanced real estate market should have a six month supply of inventory. In every price range under $250,000 there is a shortage of homes on the market.
Covid is affecting homes sales in Beaumont but not as much as you might think. Both June and July homes sales have been on pace with home sales last June and July.
Here's my advice: If you are thinking about selling your home it is still a great time to sell. Inventory of homes for sale remains very low in all but the top price ranges. If you are thinking about buying a home, you are in luck. Interest rates are historically low.
Want to know more about buying or selling a home in Beaumont or any part of Southeast Texas? I'm here to help. Call, text, email me.