Houston Real Estate Market News & Events for December

[wpcol_2third id=”” class=”” style=””]

Houston Real Estate Market News & Events for December

It is December and the housing market is still strong. Home sales have been in positive territory for over two years in the Houston area and the amount of inventory keeps declining.

Continue reading to learn more about the latest Houston real estate market news, the benefits of buying and/or selling a house during the winter months and fun, festive events for December.  Have a Happy Hanukkah and a Merry Christmas! Leslie Lerner Properties thanks you for an amazing 2013 and looks forward to working with you in 2014.

OCTOBER WAS THE 29TH CONSECUTIVE MONTH OF POSITIVE HOME SALES

October was the 29th consecutive month of positive home sales, and the real estate market is still going strong. Recent home buying brought inventory down to 3.1 months in October, compared to 4.4 months in October of last year. Houston’s real estate market experienced gains in all categories in October when comparing sales to October 2012.

According to the latest monthly report prepared by the Houston Association of REALTORS® (HAR):

  • Single-family home sales increased 13.5 percent year-over-year, accounting for the market’s 29th straight monthly increase;
  • Total property sales rose 14.7 percent compared to one year earlier;
  • Total dollar volume climbed 26.7 percent, increasing from $1.3 billion to $1.7 billion on a year-over-year basis; at $17.7 billion total dollar volume for the year, 2013 has already surpassed 2007’s record-setting total dollar volume of $16.6 billion;
  • Single Family Home Sales Broken Out by Price Range:
    • $1 – $79,999: decreased 28.6 percent
    • $80,000 – $149,999: increased 7.1 percent
    • $150,000 – $249,999: increased 26.1 percent
    • $250,000 – $499,999: increased 23.6 percent
    • $500,000 – $1 million and above: increased 21.3 percent
  • 3.1 months inventory of single-family homes is down from 3.2 months in September 2013 and down from 4.4 months in October 2012 while comparing to the national average of 5.0 months;
  • Sales of townhouses/condominiums rose 20.0 percent year-over-year;
  • Rentals of single-family homes rose 9.4 percent while and townhouse/condominium units increased 3.2 percent.

>>Read the full press release.


IS THE HOLIDAY SEASON A GOOD TIME TO BUY OR SELL A HOME?

Are you thinking about buying or selling a home this holiday season, but concerned that this time of year is not the best time to do so? Put your mind at ease. The holiday season can be a great time to buy or sell a home.

Sellers
With little inventory to choose from, your home can be seen by more buyers. People that look at your home during this time of year are serious buyers. There are many people relocating to the Houston area due to the economy and the vast amount of job opportunities. Many corporations would like new hires to start at the beginning of 2014. These determined buyers will be traveling to Houston to search for a home this time of year. With fewer homes on the market and less competition, this is a great time to get the attention of many buyers.

Although your home is on the market during the holiday season, you do not have to move out at that time as well. You can always delay the closing until after the New Year. So, get ready for the holidays, make your home look and smell wonderful and accept all showing appointments. Your home might be the one the buyers choose.

Buyers
Good news for buyers, serious sellers are still trying to sell their home and there may be a good chance to negotiate a better deal in order to get the home closed by the beginning of the New Year.

Some sellers need to relocate to other parts of the country, some need to move for tax purposes, some are building a new home and need to reduce the financial burden, etc. These motivated sellers continue to actively market their home during the winter holidays because they want to sell ASAP. As a buyer, you are more likely to “make a deal” while others are doing their holiday gift buying instead of shopping for a home. Typically there is more room for negotiation and less likelihood of a bidding war during the slower months.

Additionally, the end of the year can allow for faster mortgage approval and tax benefits. Lenders are not as busy during this time of year, and less volume could mean a faster approval process. Lenders might be willing to reduce fees during the slower months in hopes of gaining your business. Also, if you close on your home before December 31st, you can apply for a homestead exemption for 2014.

There is no time like the present. It is time to get going, opportunity awaits for both buyers and sellers!

[/wpcol_2third]

[wpcol_1third_end id=”” class=”” style=””]

All of the service, for less money!

LESLIE LERNER PROPERTIES WILL:

  • List Homes over $300,000 for $4,500
  • Under $300,000 for $1.5%
    >>Read More
  • We will rebate 1.5% of the Buyer’s Agent’s Commission if we show you 1 – 5 homes.
  • We will rebate 1% if we show you 6 – 10 homes.
    >>Read More

**BROWSE OUR CURRENT LISTINGS**

FUN THINGS TO DO IN DECEMBER

Houston Rockets
Houston Texans

1 – 2/2 – Ice at Discovery Green
1 – 1/4 – Zoo Lights
1 – 29 – The Nutcracker
1 – 26 – A Christmas Carol
1 – 31 – Santaland Diaries
1 – 1/4 – Moody Gardens Festival of Lights
1 – 21 – Best Christmas Pageant Ever
5 – 7 – Heights Holiday Home Tour
5 – Justin Timberlake
5 – Sugar Land Tree Lighting
5 – Katy Holiday on the Plaza
6 – Mayor’s Holiday Celebration
6 – ABBA the Concert
6 – 8 – Dickens on the Strand
6 – 22 –Elf the Musical
7 – The Great Bull Run
7 – Rudolph Fun Run
7 – Christmas in Rosenberg
13 – 21 – Campfire Christmas
13 – Christmas Cruise on the Bayou
13 – 15 – Very Merry Pops
14 – Lights in the Heights
14 – Brian Setzer Orchestra
14 – Clear Lake Boat Parade
14 – Gingerbread Build-Off
14 – American Cheer Competition
14 – How the Grinch Stole Christmas
15 – Jingle Bell Run
27 – Texas Bowl
31 – New Year’s Eve at CityCentre
31 – Sugar Land New Year’s Eve Celebration

 

 

[/wpcol_1third_end]