Bellaire Real Estate Market, Buyers or Sellers?

In the Bellaire real estate market, conditions continue to favor both buyers and sellers.  More houses became available compared to this time last year. June 2019 found an increase in the number of new listings, active listings and pending listings for single-family homes, according to Houston Association of Realtors. The 91 new listings in June 2019 represented a 4 percent increase over June 2018. Active listings increased 4 percent to 305 over the same period.   Actual sales of single-family homes also increased over the same period. The Houston Association of Realtors reports that in June, a total of 56 single homes were sold in the Bellaire area. This represents a 5.5 percent increase over sales in June 2018.

Prices Trending Up or Down?

Prices in the Bellaire real estate market continued to climb during that year-long period. The median price of a single-family home in the Bellaire area decreased 22.47 percent between June 2018 and June 2019, to $542,000. Average home prices rose 11.5 percent during that period to $672,795.  The dollar volume of sales during the year increased 19.4 percent. In total, $30,275,785 worth of homes were sold in June, 2019. Homes spend an average of 54 days on the market in Bellaire, which is an increase from June, 2018.   Generally high prices, abundant availability, and slow sales of those homes that come up for sale make the Bellaire real estate market a favorable environment for both buyers and sellers.

The Bellaire market is definitely trending towards a buyers market.  Sellers need to be real estate savvy to maximize their sales price. 713 Realty Group provides expert real estate services to residential buyers and sellers in Bellaire and surrounding communities. Contact us today for more information on Bellaire real estate and for professional assistance navigating this sometimes complex home market.