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CreeksideMarket UpdatesThe Woodlands TX

Market Update :: October 2017 :: Creekside

written by Jordan Marie Schilleci, Realtor®, Jo & Co. Realty Group

Today I decided to feature Creekside as my neighborhood to analyze for my daily market update. Depending on who you ask, Creekside can be found in Tomball and/or The Woodlands. The zip code backs up “Tomball”, but almost everyone considers this part of The Woodlands.

Creekside is very large, unique, and houses builders of every shape and size. Nestled perfectly in the middle is Kuykendahl, and there you can find, one of the coolest shopping centers around. This shopping center houses a gorgeous H-E-B, a very convenient Walgreens, as well as many shops, restaurants, salons, and business, including The Hub Coffee Shop and Bistro and Fuddruckers. If you have not checked out this shopping center, you really should!

So to today’s market update.. I compiled for data than normal, but I wanted to create the clearest picture on the status of the market there, considering their inventory is VERY large..

Creekside Tomball The Woodlands Realtor

As you can see, there is a lot of inventory in Creekside, six and a half months to be exact. But homes are selling at 28.3 a month, over the last 12 months, and when you compare 2016 to 2017.. We still have almost 3 months left in the year, and we have already surpassed the sales numbers from 2016, so that is a great sign.

2017 Creekside Pattern best real estate agent in the woodlands. creekside park market update 2017 october realtor

When comparing the above data, with the data following, you can see that the average days on the market is identical, but if you look closely, you will see that the average sales price has increased by $16,558!!2016 Creekside Pattern best real estate agent in the woodlands. creekside park market update 2017 october realtor

These next two graphs, which are called scattergrams, are my favorite. The first one is the last six months of transactions including the currently listed homes..

Last 6 Months Creekside Activity Plus Actives

And this one is just the last six months of sales..

Last 6 Months of Sold Activity in Creekside The Woodlands

Truthfully, there is a lot of chatter in the real estate realm that Creekside’s market isn’t very hot. While the inventory is up, the average sales price is also up, so as long as you have your home in great condition, and listed at a number that the market speaks to, you won’t find yourself on the market longer than your competition.

If you would like me to run any number specific to your home or neighborhood, please reach out. I love assisting buyers and sellers. 🙂

Your Realtor,

Jordan Marie Schilleci, REALTOR®
Beth Ferester & Company
Call/Text 832-493-6685
Jordan@rewithjo.com

 

October 10, 2017 1 comment
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memorial northwest and bridgeland market updates in the month of october 2017
Cypress TXMarket UpdatesMemorial Northwest

MARKET UPDATE :: OCTOBER 2017 :: MEMORIAL NORTHWEST & BRIDGELAND

written by Jordan Marie Schilleci, Realtor®, Jo & Co. Realty Group

Hello! Today I have gathered September’s and the last two years of market data for Memorial Northwest and Bridgeland..

Memorial Northwest | Klein Area of Spring, TX

memoiral northwest market update september october 2017

There are currently 35 houses on the market. We have about 5 months of inventory on the market.
Awesome to note: ten houses closed this past September, compared to only 8 houses in September of 2016.

So, the above scattergram shows you all the activity from the last two years in relation to price and square feet. I will break the data down deeper..

Last 6 months of sales in Memorial Northwest. Real Estate Agent. Realtor.

This next scattergram is my favorite. It is always the most eye opening. It is the last 3 months of sales, and all the current asking prices on homes for sale..

Last 3 months of sales and current inventory brought to you by real estate agent in memorial northwest.

To get data specific to the condition of your home, feel free to reach out. These scattergrams do include foreclosures and newly renovated houses as well. But these scattergrams can still give you a good idea of what your house could sell for.

Bridgeland | Cypress, TX

I pulled a little less data for Bridgeland, but still pretty revealing of the state of the market over there. Also to note, 25 houses sold in September of this year compared to 29 in September of 2016.

Bridgeland Activity for Last 2 Years

As you can see, there are 137 homes currently on the market, and the sales are crazy up from year to year.

This scattergram is showing you every house that has sold in Bridgeland in the last six months. The purpose of this scattergram is to help you estimate what you could sell your house for.

Please let me know if you would like some data specific to your home or neighborhood, or the one you plan on buying in. Until tomorrow..

Your Realtor,

Jordan Marie Schilleci, REALTOR®
Beth Ferester & Company
Call/Text 832-493-6685

October 9, 2017 0 comment
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Market UpdatesSpring TX

MARKET UPDATE :: OCTOBER 2017 :: NORTHAMPTON

written by Jordan Marie Schilleci, Realtor®, Jo & Co. Realty Group

For today’s #MARKETUPDATE on my #5AMDESK podcast, I decided to focus on Northampton. I actually adore Northampton and have shown so many homes there, as well as, looked there before buying my current house.

Northampton is a smaller neighborhood, but it has so much character is personalization. The upkeep of the neighborhood is amazing, and it is my favorite neighborhood to find renovated homes for my clients. The design work in that neighborhood is typically one-of-a-kind.

Northampton market report october 2017

As you can see, there are currently 24 homes for sale (1 is flooded), and 9 are pending. That is a great number considering, only 1 has sold so far this month, 5 sold in September and 7 in August. I am hoping the market continues to heat up and stay strong in Northampton. They really deserve it, considering a couple streets over there flooded.

If you live in that area and are curious about estimated pricing, check out this graph of sold homes from the past 12 months..

There is also a new neighborhood nestled within Northampton called Inway Oaks Estates. If you are looking for brand new homes with that very low tax rate, feel free to reach out. I use to work at the model home there, and know the builder and location very well. Inway Oaks Estates also taps into the HOA of Northampton, meaning you get to use the walking trails, parks, gym, tennis courts and swimming pools!

Please reach out to me if you would like some custom data to your location, if you would like to see any homes, or even have your current home evaluated for listing.

Your Realtor,

Jordan Marie Schilleci, REALTOR®
Beth Ferester & Company
Call/Text 832-493-6685

October 7, 2017 0 comment
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market analysis on the heights and lakewood forest real estate agent the woodlands
Lakewood ForestMarket UpdatesThe Heights

Market Update :: October 2017 :: The Heights & Lakewood Forest

written by Jordan Marie Schilleci, Realtor®, Jo & Co. Realty Group

I don’t frequent The Heights all too often, minus heading down to 19th Street for some Penzey Spices (best spices in the world!) or an occasional antique shopping run, but I do know the market down there is a “hot one”. Today, on my #5AMDESK podcast (Episode 19), I dove into more details.

The Heights Market Data

The Heights - What are the odds of selling your home?

The sale prices of all homes over $350K in The Heights.

As you can see, the above graph starts at $350,000. The maximum amount of data I can easily compute is 5000 entries, so that is why I chose to start at $350,000. The reason why this graph is so congested, is one, because there are so many houses bought and sold in The Heights, but the graph looks the way it does, due to half of the houses being sold renovated and not renovated.

The days on the market in 2016 was 68 and in 2017 it dropped to 49. That is great for sellers. The bad part is the large amount of inventory, making it almost like a buyer’s market. There is currently 7.5 months of inventory in The Heights area.

Lakewood Forest Market Data

I love Lakewood Forest. We almost moved there. There schools are award winning, as part of it zones to Tomball ISD and the other part to Cypress-Fairbanks ISD. I love all the trees and all the character in the homes. Plus the location is very convenient to The Vintage and Highway 249.

Lakewood Forest Real Estate Agent and Market Data 2017

As you can see the inventory here is a lot less than The Heights. There are 19 houses currently for sale and 71 have sold in the last 12 months, making the inventory at 4.6 months. Even though this number appears high, I personally would say the inventory in Lakewood Forest is low, because 11 of those 19 came on the market in 2016. So if you have been considered selling our house in that area, and your house is in great condition, I would recommend putting it on the market soon.

Last 12 months of sold homes in the neighborhood of lakewood forest real estate agent 77070

Above, you can see the last 12 months of sold home prices. One thing to remark is the least expensive home was $170,000 (not very low) and the most expensive home went up to $520,000. A very strong neighborhood, especially considering its age and location. If you are thinking about selling you can use this graph, and find along the line, about what you house MIGHT sell for. Again, I can compute estimates specific to your home, just let me know.

Something odd to note, is that the average days on the market between this year and last year. Last year, it was 40 and this year, it increased to 42. I still think it is an amazing neighborhood. You are a little close to the creek, but many of the homes were safe during Hurricane Harvey.

So, let me know if you would like any custom data. Until tomorrow..

Your Realtor,
Jordan Marie Schilleci, REALTOR®
Beth Ferester & Company
Call/Text 832-493-6685

October 6, 2017 0 comment
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real estate agent in the woodlands
Market UpdatesThe Woodlands TX

Market Update :: Week of September 24 :: The Woodlands

written by Jordan Marie Schilleci, Realtor®, Jo & Co. Realty Group

I have been using some new software to gather my market updates, so feel free to provide some feedback!

There are currently 769 active homes on the market, 49 option pending (just went under contract), and 152 pending (weeks or days away from closing).

Market Update - The Woodlands

Here you can see the current price trend for all of The Woodlands. This data gets to be a little more and accurate, when you pinpoint a neighborhood of similar homes. (If you would like custom data, please reach out to me.)
New Home Sales The Woodlands

Last week 41 homes closed. The YTD for 2017 is 1635 homes sold compared to the same time frame in 2016, where only 1533 homes sold. I also pulled the average DOM (days on market) for 2016 and 2017. When comparing the years, the average DOM is down one day, and we currently have 5-6 months of supply (if no more new homes hit the market, it would take the current 769 homes 5-6 months to all sell). And when comparing September of this year to September of last year, 153 homes sold in 2016 and 186 homes this past month. So the effects of Hurricane Harvey are yet to be seen on the market in The Woodlands.

As always, if you would like some custom data for your home and neighborhood, please reach out to me.

Tomorrow I will be posting about Houston’s overall market and a featured neighborhood.

Your Realtor,
Jordan Marie Schilleci, REALTOR®
Beth Ferester & Company
Call/Text 832-493-6685

October 5, 2017 0 comment
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Market UpdatesThe FactsThe Woodlands TX

Is it a buyers’ market or a sellers’ market? :: Market Update for The Woodlands | Early Summer 2017

written by Jordan Marie Schilleci, Realtor®, Jo & Co. Realty Group

People are always asking, “Is it a buyers’ market or a sellers’ market?”, and honestly, there isn’t a black and white answer to this question. There are so many factors: the price of the home, the seller’s motive (or lack of) in selling their home, and yes, even the choice in real estate agent the seller picked to list their home.

The Price of the Home

This is a factor because there are typically more buyers in the lower price ranges than the higher price ranges. While this is commonly known, another way to look at this factor is, listing your home the right price right away will help the seller attract many buyers which decreases their days on market (also known as DOM). And this is also a no brainer, but many sellers and real estate agents like to think that this doesn’t apply to “my” house or “my” listing.

The Seller’s Motive

This factor is a huge one. Some sellers do not have to sell their current home in order to purchase their next, so they kind of lack motive in selling quickly. This typically leads to listing the home high in hopes to get what they want, which once again leads to a high DOM.

Choice in Real Estate Agent

I know this is a bit controversial of me to publicly say, but it is true. I could write a whole book on this topic, but I will try to keep it to one paragraph. Choosing a real estate agent that doesn’t use a professional photographer, leads to homes not being marketed properly, which leads to low showings and high DOM. Choosing a real estate agent that doesn’t guide a seller in listing their home at a price that will compete in the current state of the market also leads to low showings and high DOM. In most cases, when a buyer sees a high priced home, they think it is the seller that is unrealistic, when sometimes it was the seller’s agent who was misleading the home price. No matter what the case is, the thought of “not wanting to deal with an unrealistic buyer” crosses their mind. They in turn decide to wait for the price to lower before they make a move, which typically takes weeks and more commonly, months, and by the time the house they originally had their eye on is a realistic price, they have already made an offer on another home. Choosing the wrong real estate agent is almost detrimental to the ultimate sales price of a particular home.

I’m not sure if you noticed, but in every factor listed above there was a reoccurrence: price. So if your home is listed at the right price, you will find yourself in a seller’s market. If your home is listed high, then you will find yourself in a buyer’s market.

Now again, this isn’t black and white. Let’s break down the numbers for May 2017..

Number of Sales :: 252
Compared to last year, this is an increase from 212.

Average Sales Price :: $435,251
Compared to last year, this is a decrease from $472,148.

Days of Market :: 44
Compared to last year, this is a decrease from 54.

Number of New Listings :: 322
Compared to last year, this is an increase from 259.

Current Number of Listings :: 1046

Inventory :: 4.15 months
This just means that if no more homes hit the market, the current inventory would carry us a little over 4 months.

There are many factors in determining the market outlook.  Some of which are out of our control, but many of which are in our control.  Sellers, as long as their agent has been guiding them in the right direction, are ultimately the deciding factor in whether on not it’s a buyers’ or sellers’ market.  The choices they make throughout the process of listing their home will ultimately decide the outcome.  If one is adamant about getting their home sold, they are setting themselves up to sell in a sellers’ market.  If one just wants to see what they’ll get, and the selling price of their home is inconsequential to a large degree, they ultimately make it a buyers’ market.

If you have any questions, call or text me. My cell is 832-493-6685.

Thank you,

Jordan Marie Schilleci, REALTOR®
Beth Ferester & Company

832-493-6685 call/text anytime | rewithjo.com | 24hourlistings.net | blog.rewithjo.com

June 23, 2017 0 comment
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Market Updates

Mortgage Rates Reach a New Low for 2016

written by Jordan Marie Schilleci

I was checking my email this evening, and came across a great market update..

The 30-year fixed mortgage rate dipped to its lowest average of the year this week, averaging 3.58 percent, Freddie Mac reports in its latest mortgage market survey.

“Demand for Treasuries remained high this week, driving yields to their lowest point since February,” says Sean Becketti, Freddie Mac’s chief economist. “In response, the 30-year mortgage rate fell 1 basis point to 3.58 percent. This rate represents yet another low for 2016 and the lowest mark since May 2013.”

Freddie Mac reports the following national averages with mortgage rates for the week ending April 14:

  • 30-year fixed-rate mortgages: averaged 3.58 percent, with an average 0.5 point, dropping from last week’s 3.59 percent average. Last year at this time, 30-year rates averaged 3.67 percent.
  • 15-year fixed-rate mortgages: averaged 2.86 percent, with an average 0.5 point, falling from last week’s 2.88 percent average. A year ago, 15-year rates averaged 2.94 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 2.84 percent, with an average 0.4 point, rising from last week’s 2.82 percent average. Last year at this time, 5-year ARMs averaged 2.88 percent.

Source: Freddie Mac

If you’re in the market to buy or sell, please reach out!

Jordan Marie Schilleci
Realtor®
Beth Ferester & Company

Call or Text Anytime.. 832-493-6685

April 16, 2016 0 comment
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