For the luxury segment above $800k in the Energy Corridor, the market dynamics are also noteworthy:
Number of For-Sale Properties: Increased by 12.5% compared to June 2023.
Sold Properties: Increased by 66.7% compared to June 2023.
Median Price: Decreased by 21.3% compared to June 2023.
Average Price per Square Foot: Increased by 18.1%, with the average price per square foot at $307.
Average Sold Price: $1,153,000 in June 2024.
Months Supply of Inventory: Stood at 3.2 months, indicating a seller's market.
| Price Boxes | Pending | Sold | Average list price | Average sold price | Sold price to list price ratio | Ave days on the market |
|---|---|---|---|---|---|---|
| $800,000-899,000 | 0 | 4 | $243.24 | $262.35 | 108% | 7 |
| $900,000-$999,000 | 0 | 0 | $0 | $0 | 0% | 0 |
| $1,000,000-$1,200,000 | 1 | 0 | $0 | $0 | 0% | 0 |
| $1,200,000-$1,499,000 | 2 | 1 | $306.18 | $300.96 | 98% | 5 |
| $1,500,000 & Above | 1 | 3 | $313.14 | $342.81 | 109% | 4 |
The real estate market for properties below $800k in the Energy Corridor at 77077 has seen significant changes in June 2024:
Number of For-Sale Properties: Increased by 69.8% compared to June 2023.
Sold Properties: Increased by 32.1% compared to June 2023.
Median Price: Decreased by 4.1% compared to June 2023.
Average Price per Square Foot: Increased by 7.4%, with the average price per square foot at $188.
Average Sold Price: $445,824 in June 2024.
Months Supply of Inventory: Decreased by 3.2%, favoring sellers with a tight market.
| Price Boxes | Pending | Sold | Average list price | Average sold price | Sold price to listprice ration | Ave days on themarket |
|---|---|---|---|---|---|---|
| Under $300,000 | 2 | 3 | $172.30 | $160.00 | 93% | 25 |
| $300,000-399,000 | 7 | 13 | $165.19 | $162.00 | 98% | 13 |
| $400,000-499,000 | 11 | 9 | $185.43 | $182.49 | 98% | 6 |
| $500,000-599,000 | 1 | 7 | $218.92 | $220.08 | 101% | 10 |
| $600,000-$699,000 | 1 | 1 | $248.48 | $244.92 | 99% | 13 |
| $700,000-$799,000 | 2 | 3 | $239.27 | $235.11 | 98% | 11 |
Real estate trends are crucial for gaining a comprehensive understanding of the local real estate market, as they provide valuable insights into market dynamics, property values, and buyer behavior. By analyzing trends such as price fluctuations, inventory levels, and days on the market, real estate professionals can make informed decisions, predict future market conditions, and tailor their strategies to meet the demands of buyers and sellers. Additionally, keeping abreast of local trends enables agents to identify emerging neighborhoods, understand the impact of economic factors, and offer precise advice to clients, ultimately enhancing their ability to navigate the market successfully and achieve optimal outcomes.
