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Texas Real Estate 1st quarter 2019
The Texas Real Estate housing market experienced a 2.7% increase(from 2018 1st quarter) of the median home price leaving it at $230,000. We only saw a minor uptick in closed sales in the 2019 1st quarter as compared with the 1st quarter of 2018. Active listings shot up quite a bit at 14% according to the Texas real estate market report which may demonstrate a little bit of a cooling period for buyers as many real estate experts predict. The average DOM(Days on Market) remains stable with a baseline of 100 days. All in all numbers look stable with no major surprises. Let’s hope the Texas market report continues to put out some encouraging robust numbers in the following Texas real estate market reports.
Texas Real Estate 2nd quarter 2019
The Texas real estate housing market produced some high numbers making many who participated in the Texas Real Estate Market winners in 2019’s second quarter. Median home inventory, sales volume, and sales price increased compared to the 2nd quarter of 2018, according to the 2019-Q2 Texas Quarterly Housing Report released by Texas REALTORS®.
“The Texas real estate housing market experienced a start at the beginning of the summer season. During the second quarter, the Texas real estate market sold more than 100,000 homes. Of course, while many sub-markets exist within the Texas real estate market and can vary in terms of growth and activity, Texas real estate as a whole is good to both buyers and sellers. Buyers continue to have a healthy supply of inventory while sellers are crossing the finish line with a slightly higher sales price than the average median price.
We saw a 7.5% increase in active listings totaling 116,950 across the state of Texas, as compared to the second quarter of 2018. Housing inventory grew to 4.1 months in the Texas real estate third quarter. That’s an increase of 0.3 months from this time last year. The housing inventory is calculated by dividing the number of active listings in a given month by the average number of completed sales in that month.
We also saw the Texas real estate market median price of a home increase by 2.9% year-over-year to $245,000. There was also a 1% increase in the number of homes sold during the second quarter of 2019, bringing the total sold amount to 101,896 home sales. An interesting fact to note was the price margin between $200,000 to $299,999 nearly accounted for a third of the homes sold during the second quarter. Also, nearly a third(26.7%) of home sales during the second quarter were priced in the $100,000 to $199,999 price range.
“While the Texas housing market remained strong in Q2, our markets began slowing down in terms of transaction volume coupled with tight housing inventory,” said Jim Gaines, Ph.D., chief economist with the Real Estate Center at Texas A&M University. Many experts report the major Texas city market sales activity is separating with a wider variance compared to the sales activity of smaller and medium cities. This may be in part due to job growth within the major Texas city markets. As I expect, the lower interest rates should encourage positive numbers of home sales for the Texas real estate market in the 3rd quarter.
Texas Real Estate 3rd quarter 2019
The Texas home sales numbers are in! Home sales for the Texas real estate market increased to 6.4% or 100,733 home sales during 2019 third quarter. The 2019 Q3 Texas Quarterly Housing Report released by Texas REALTORS® continues to remain optimistic.
The median home price for the Texas real estate market also increased to $245,000 during the third, a 4.3% increase over the 2018 third quarter. 26.9% of Texas real estate home sales fell in the price range of $100,000 to $199,999 in the third quarter. Over one-third, (33.4%) of all sales in 2019’s third quarter during the third quarter were priced from $200,000 to $299,999 — Texas homes priced from $100,000 to $199,999 represented 26.9% of sales for the third quarter.
“Texas ended the summer season with continued growth in home sales and median price in most of the major markets,” said Tray Bates, chairman of Texas REALTORS®. “Our housing market remains healthy due to strong demand and steady increases in housing inventory.”
The Texas real estate market also saw an increase(3.5%) in the number of active listings from 2018 to 111,013 listings in 2019’s third quarter. The average DOM (days on the market) here in Texas is 54 days for Texas homes this third quarter. That is two days longer than the third quarter of 2018, so we are remaining consistent in that area.
“The Texas housing market continues to show strong demand and steady numbers. Based on the numbers of sales activity, we continue to see prices, active listings, and (MOI) months of inventory, all have steady growth in most of the sub-markets across Texas. I think we can expect to see home-buyers incentivized by low interest rate throughout the remainder of the year. We can also expect residential construction to remain strong in several major Texas cities. Home shoppers in the Texas real estate market should continue to have many options at all price ranges.
About Benjamin Ross
Benjamin Ross is a real estate expert and professional who serves the state of Texas. Benjamin started his career in 2002. He was a director for private investment companies, responsible for acquisitions and management of real estate.
As a Realtor, it is Benjamin’s priority and intention to treat you, the client, the way he would want to be treated if he was the client. Benjamin believes every client is unique with a unique set of goals. It is Benjamin’s job to help his clients accomplish their goals big and small.
As an Investor, Benjamin has an extensive history working with real estate investors. It can be challenging to find a realtor with personal real estate investments and the experience that comes with it. The fact that Benjamin is a real estate investor and Landlord makes him unique and beneficial to his clients.
As Source Expert, Benjamin also serves a variety of journalists and bloggers. Benjamin has a passion for teaching others about the real estate industry. Knowledge is power and Benjamin does not mind sharing it.
Benjamin loves to partner with other professionals across the state of Texas.
As a team player, Benjamin embraces the knowledge and experience of others. He is always open to new ideas and opinions of others if it results in the success of his clients.
Benjamin’s Published Articles and Quotes (see all)
Because of Benjamin’s knowledge of real estate, his quote’s and articles have been featured in many publications nationwide, including the ones’ displayed below.