Coming off of two of the best years in the history of Houston Real Estate where does this leave us for the New Year? Based on data from January 2016, Houston is currently comprised of a bifurcated market meaning it’s a sellers’ market and it is a buyers’ market. It all depends on the price range you are looking at. Homes priced below $400,000 are in a sellers’ market based on a months of inventory (MOI) of 4.5 or less as price ranges go down. Homes priced above $500,000 are in a buyers’ market based on an MOI of 7.2 or greater as price ranges go up. Homes priced $400,000 - $499,999 are in a balanced market based on an MOI of 6.1, where buyers and sellers share equal advantage
Now more than ever it is a great time to be FSBO. Without the costly commission you can price your home more competitively and save money too!