Archive for the ‘River Oaks’ Category
Houston Real Estate - River Oaks Market Report for May 2008
June 10th, 2008 categories: Houston, Market Stats, River Oaks
Houston River Oaks Market Report - May 2008
Only two homes sold in River Oaks in May!!! So, averages don’t really tell a true picture in this case… quite a few deals are pending so maybe June will show a few more numbers. Average days on market for the active listings is a very reasonable 74 days. For higher end homes this is a fairly good number. This shows that the current crop of properties on the market were mostly listed in the last two months. Asking prices seem to be a bit high at $605 per square foot. Look for the DOM to increase in the coming months!
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River Oaks Real Estate Market Report for April 2008
May 8th, 2008 categories: Market Stats, River Oaks
Sales for homes in the Houston River Oaks area
In stark contrast to Memorial, the River Oaks market has increased it’s number of “SOLDS” every month the last three months. The absorption rate has dropped to less than four months. This means that River Oaks is definitely a seller’s market. If you’re thinking of selling your home in River Oaks, now is the time to put it on the market. This shows that the upper end of the Houston Real Estate market is definitely still in very good shape. Days on market is just over 80 days but that is about as good as it gets for higher end homes… negotiations, inspections, marketing… everything takes longer.
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Houston River Oaks Real Estate Market Report - March 2008
April 1st, 2008 categories: Market Stats, River Oaks
Homes for sale in River Oaks are starting to shift!!! At this rate, all the homes on the market in River Oaks will be sold in just under 5 months!! A very good month was had in March. So, the market has definitely picked up. The days on market (DOM) is over 100 days but, for the top end of the market (River Oaks is the definition of “top end”!) that is actually not all that bad. These properties take longer to evaluate, longer to inspect, longer to negotiate… so, it’s part of the deal with high-end properties… that’s why agents usually insist on longer listing periods… six to twelve months is not unusual. For extremely rare and expensive properties, two-year listing periods are not unusual.
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Houston River Oaks Real Estate Market Report - February 2008
March 5th, 2008 categories: Market Stats, Real Estate News, River Oaks
The same number of homes “sold” in February as in January but, look at the number of pending deals… if those all go ahead March is going to be a fantastic month for the number of closed deals.
Spring is definitely in the air and I expect we’ll see quite a bit of action this month if these figures are anything to go by.
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Houston River Oaks Real Estate Market Report - January 2008
February 6th, 2008 categories: Market Stats, River Oaks
Only 5 homes sold in the exclusive Houston suburb of River Oaks area in January 2008!
This is not too unexpected when you consider that firstly, it’s the middle of winter and, secondly, the average selling price is over $1 million!!
However, the absorption rate (how many months it will take at the current rate of selling to reduce available inventory to zero) is 10.2 months. Anything over 6 months is considered a buyer’s market. There is a big divergence between average asking prices per square foot and actual selling prices per square foot. So, now is the time to be bargaining with the sellers in River Oaks… you could get some big discounts (up to 25% off the asking price!) if there’s someone in there hurting!
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