I promised last week that we would take look at what home prices are doing in our area during this "catastrophic" real estate market that we are experiencing. I think when you take a look at this data you will come to the conclusion that all is not doom and gloom.
The numbers shown below are for the four MLS areas that represent Montgomery County. These numbers show what the average sales was for single family residences sold in April 2008, 2007 and 2006 and amount (in percentage) of that increase or decrease. Take a look and let me know what you think.
MLS--------2008-----% +/-------2007-------% +/------2006
15--------$291,026---14.12%---- $255,026---0.78%----$253,051
19--------$126,069--<12.90%>----$144,737----12.15%---$129,055
39--------$252,019---2.98%-----$244,736----35.41%---$180,734
40--------$169,069---13.87%----$148,469---<5.47%>----$157,052
I don't see a lot of price decreases in those numbers. And I do not think you will in the future either. Sales in our area may be down but prices in the vast majority of cases are going up. As I said in an earlier blog I believe we are at or near the bottom. If you are going to get in on the buyers market you had better do it now.
Questions??? Just send me an email.
I hope you have a great day.
Ron
PS: Sorry about all of the ---- but the system doesn't allow the insertion of a table.
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1 comment:
At or near bottom? Geez, June 2008 seemed like near real estate paradise in Porter compared to August. Just see house that sold for $230,000 just two years ago is on foreclosure for $177,000. With oil stocks beginning to plummet, this could the perfect storm for Houston burbs...
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