Housing Market Commentary for Johnson County, Texas
The market in Johnson County and the Metroplex is still growing stronger. Sales in Johnson County over the last year are up 11%over last year and up 24%Sept – Nov compared to last year.
Home prices have stabilized and even appreciated just slightly this year. Texas has one of the strongest economies in the nation with job growth and population growth putting pressure on housing inventory. Demand for housing should be strong if not stronger in 2013.
The top price range is $100,000 - $160,000 representing 35% of the overall market. These homes that have sold are taking an average 72 days to sell. Price is still the largest driver for a house to sell. If priced competitively in the market it will sell quickly.
The first time home buyers segment is the strongest and has over the last year become a seller’s market. The move-up market, $160,000-$300,000 is a balanced market and the luxury market is still a buyer’s market.
Total inventory is a little over six month supply which shows a trend towards a total balanced market 6.7month Supply vs. 7.8this time last year.
There have been 1,683 homes sold in Johnson County over the last 12 months and 433 in the last 90 days.
With the Fed announcing they will continue to buy Treasuries, this will continue to put downward pressure on interest rates. The home mortgage interest rates are projected to remain at historic lows.
This means for sellers and buyers 2013 is a great time to sell and buy here in the metroplex.
Information based on Netreis compiled date Nov 2012.
Burleson, Joshua, Godley, Alvarado, Venus, Grandview, Cleburne, Keene, Rio Vista