Real Estate News - Montgomery County Q4 2014

This information comes by permission of TexasRealEstate.com‘s advice for consumers.

“As temperatures dropped at the end of 2014, Texas home sales spiked. In fact, the Texas housing market ended 2014 with one of the highest fourth-quarter single-family home sales volumes in history, according to the 2014-Q4 Texas Quarterly Housing Report.

Low interest rates coupled with decreasing inventory resulted in high demand for Texas homes during this period. “A dip in mortgage interest rates below 4% in the last half of 2014 created an ideal climate for this year-end surge in home sales growth,” says Jim Gaines, Ph.D., an economist with the Real Estate Center at Texas A&M University. “However, fewer homes on the market and strong demand maintained rising home prices and shrinking months inventory.”

The report, released Feb. 2 by the Texas Association of REALTORS®, also explains that demand for Texas home in the last quarter of 2014 resulted in an all-time low of 3.3 months inventory statewide. The Real Estate Center considers 6.5 months inventory to be a balance between supply and demand.

Download the full report to see how your market performed at the end of 2014.”

AveragePriceMontgomeryCountyQ42015This chart shows the Average Sales Price of a residential home in Montgomery County, Texas.

The average price rose from a fourth quarter 2013 price of $275,000 to $285,000 Q4 for 2014. The rise and fall of average sales prices is consistent with all other years showing the highest sales prices in the second quarter.

When the article stated, “The Real Estate Center considers 6.5 months inventory to be a balance between supply and demand” and explained that the inventory stood at 3.3 months at the end of the year this describes what many call a “sellers’ market”. Demand is greater than the supply, pushing the sales prices higher, and reducing the average days on the market for home sales.

soldIn addition, the average home in the state of Texas sold for $241,000. In Montgomery County homes sold for average sales price of $285,000 putting it above the state average. The supply of homes was also slightly less in Montgomery County at 3.2%.

Montgomery County continues to be one of the best real estate markets in the nation – a high number of units sold, low interest rates, a brisk job market, and growth in every sector of the economy. The infrastructure of Montgomery County is growing at a rapid rate as well. Even a casual look reveals major improvements on highways, public transportation, new hospitals, and schools.

Legal disclaimer

The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.While the Texas Association of REALTORS® has used reasonable efforts in collecting and preparing materials included here, due to the rapidly changing nature of the real estate marketplace and the law, and our reliance on information provided by outside sources, the Texas Association of REALTORS® makes no representation, warranty, or guarantee of the accuracy or reliability of any information provided here or elsewhere on texasrealestate.com. Any legal or other information found here, on texasrealestate.com, or at other sites to which we link, should be verified before it is relied upon.

For all your Montgomery County Real Estate Needs contact the Michelle Wheeler Team
Wayne Stroman, Broker
Lake-Conroe-Realtors.com TREC Lic. 0416282
Call the Property Desk at 936-588-7004
Sales Office: 14500 HWY 105 W, Conroe, Texas 77304
Mail to: PO Box 2991, Conroe, Texas 77305
Sales: 936-588-4444
Fax: 936-588-4884

Listing and Sales Agent

Michelle Wheeler
Lake Conroe Area Team Leader

Real Estate Listing and Sales

Wayne Stroman
Lake-Conroe-Realtors.com Broker

Be Sociable, Share!

Leave a Reply

 

 

 

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>