Despite low inventory, sales in all price ranges came to life in March. Homes priced from $250,000 – $500,000 had the highest gains on a month-to-month basis. Sales of homes priced over $500,000 were better than they have been in over four years.
According to the latest Houston Association of Realtors (HAR) Market Update, single-family homes sales jumped 24.4 percent in March compared to a year earlier. On a year-to-date basis, homes sales are running 16.9 percent ahead of 2020’s record pace.
Last March, days on market was 65. This year we are at 45 days. Inventory is at a record low 1.4-months supply compared to 3.4 months a year earlier. The current national inventory level is 2.0 months.
On another note, homeowners should be receiving their 2021 tax appraisals. Please feel free to call us anytime to discuss your appraisal, buying, selling or just to say hello. We love to hear from you!