Houston Real Estate Market Trends 2024
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Houston Real Estate Market Update: September Trends for Investors
Sales Trends
- Increased Sales: Single-family home sales rose by 1.7% year-over-year, totaling 6,973 units sold in September 2024 compared to 6,858 in September 2023.
- Mid-Range Market: Homes priced between $250,000 and $499,999 accounted for 59.7% of sales, reflecting a strong 4.2% increase. This trend suggests a growing demand for affordable housing options in the Houston area.
- Luxury Segment: Sales for homes priced over $1 million also increased by 2.0%, indicating sustained interest among affluent buyers in the Houston real estate market.
Price Stability
- Steady Home Prices: The average price for single-family homes remained steady at $415,435, while the median price rose 1.1% to $335,000.
- Price Per Square Foot: There was a slight increase in the price per square foot, moving from $177 to $178, suggesting a stable pricing environment that can encourage investor confidence.
Houston Snapshot
The Greater Houston housing market is showcasing key trends this September, presenting various opportunities for real estate investors. This Houston real estate market update highlights essential insights that can inform your investment decisions.
Houston Real Estate Highlights
Increased Inventory
- Increased Supply: The housing inventory has grown to a 4.4-month supply of single-family homes—the highest level recorded since September 2012. There are currently 30,617 single-family homes on the market, an increase of 28.1% from last year.
- Negotiating Power: A balanced market, typically defined by a 4.0 to 6.0-month supply, gives buyers and investors more options and better negotiating power.
- Days on Market: The average days on market for single-family homes increased from 45 to 51 days, indicating that buyers are taking more time to make decisions. This trend may provide investors opportunities to secure properties at favorable prices, especially if they are prepared to navigate negotiations effectively.
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Partner with Catalyst Funding
As a trusted advisor for real estate investors in Houston, Catalyst Funding offers tailored lending solutions to help you capitalize on these market trends. With expertise in financing options, Catalyst Funding can assist you in navigating the Houston real estate market and securing the funding necessary for your next investment.
Conclusion
The current state of the Greater Houston housing market reveals various trends that present significant opportunities for real estate investors. With stable pricing, an increase in inventory, and encouraging sales trends, investors can capitalize on these conditions to enhance their portfolios. By strategically targeting the right areas and price points, investors can position themselves for success in this evolving market.
Exploring Conventional Refinances for Rental Properties
If you’re a real estate investor looking to optimize your portfolio, evaluating whether conventional refinances for rental properties is right for you is imperative. Conventional refinances are an excellent option for investors seeking the best possible terms and interest rates while acquiring and operating cash-flowing properties.
Unlocking Opportunities with Hard Money Loans: A Guide for Real Estate Investors
At Catalyst Funding, we understand that access to quick and flexible financing is crucial for real estate investors looking to capitalize on distressed real estate opportunities. As a leading hard money lender in Texas, we specialize in hard money loans—also known as private money loans, residential transition loans, or bridge loans. These loans are designed to help you purchase and repair distressed properties or acquire raw land for new construction.
San Antonio Real Estate Market 2024
San Antonio, Texas features top neighborhoods like Stone Oak, Vance Jackson, and Denver Heights. The city has 179 neighborhoods priced from $1,600 to $15 million. As of May 2024, the median home listing price was $301,000, with homes selling for an average of 1.68% above asking.
Dallas Real Estate Market 2024
The Dallas real estate market in 2024 continues to stand out as a beacon of opportunity for investors and homebuyers alike. With a robust economy and steady population growth, Dallas offers a dynamic environment for real estate investment. Get monthly updates to the Dallas real estate market here!