Deer Park, Texas Real Estate Outlook 2017
Deer Park, Texas and surrounding communities continue to see low inventory into 2017 with anticipated real estate market conditions to remain robust. Although not as strong as 2016, properties in the $125k to $225k range are anticipated to move below average days on market, often with multiple offers. Pent-up demand will be a key factor as buyers that missed out in 2016 will have a better shot this year. Although some buyers have lost hope and exited the market, the majority of buyers are looking forward to additional inventory and a longer days on market to allow them time to review specific properties. It was a feeding frenzy in 2016 but 2017 is seeing slightly more inventory with a few additional days on market. New construction, in Deer Park, Texas specifically, has all but dried up with only small redevelopment or single lot development being available. There are still a few development communities with available lots but they are moving toward close-out quickly. More development oportunities exist further East and South of Deer Park, TX but pricing continues to be driven up by general lack of inventory.
Tim Goss is Owner/Agent of Century Properties in Deer Park, Texas. Tim has over 16 years of commercial and residential experience. Century Properties is a full service brokerage with 29 agents working out of the Deer Park, Texas office. (832) 567-5853. tim@timothygoss.com
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