La Porte 2017 1st Quarter 2017 Home Sales Update
A look at the Stats
It took a little longer to sell a home in La Porte during the 1st quarter of 2017 compared to the same time as in 2016. The average days on the market was up significantly up from last quarter and the highest from all 5 quarters.
Interesting note: Homes during this period 10 years ago sold for an average of $69.06 per sf.
The median sales price increased from the final 3 months of 2016. It has rose significantly from the same time last year. The median house price is the midway point of all the houses sold during this time period.
So, what does this data mean?
While the number of properties sold in the 1st quarter of 2017 dropped over the 4th quarter of 2016 this is likely a result of very low inventory levels during January and February. As more homes were listed, home sales in La Porte were up 42% in March 2017 from March of 2016.
What does this mean if you are looking to sell a house in La Porte?
If predictions hold true and trends continue, low inventory levels will continue into 2017 and we will continue to see a strong seller’s market. Sellers, especially those around the median sales price and below, should expect to see quick sales and strong sales prices for homes that are priced correctly, nicely maintained and updated.
Curious about YOUR homes value?
What does this mean if you are buying a house in La Porte?
Buyers will likely continue to face stiff competition when submitting offers to purchase nice properties. While rates are up slightly over historical lows, they are still very attractive and make home ownership affordable. Many times a monthly payment will be less than the rent on a comparable home. As a result there may not be a better time to buy than right now.
Check out the 1st Quarter 2017 Homes Sales Update for these local area:
The market can change very quickly so check back in each month when we will update our Houston Area Market Report and at the end of each quarter when we dissect the markets in the League City, Dickinson, Clear Lake, Seabrook, La Porte, Deer Park, Pasadena and Friendswood areas.
If you are thinking of buying or selling or if you are interested in more information on the La Porte Real Estate market please contact us at 281-479-MOVE (6683) or email@example.com