Inventory at the high end of the market in River Oaks, which we define as properties priced at $4 million or higher, has climbed steadily since summer began. As of mid-September, the inventory is at its highest level ever. Most strikingly, much of the inventory is top-heavy – that is, well above $6 million – and
The 2016 mid-year edition of the River Oaks Market Report, published by Cameron Ansari and Teresa Byrne-Dodge, will be released this week. The three main points in the new 2016 mid-year edition of our River Oaks Market Report are • High-end real estate buyers are getting younger. • There are plenty of highly qualified buyers
It was remarkable to see the high number of house sales that closed in River Oaks in June of 2016. The 12 closings were the most we have seen in any single month since November 2005 and significantly higher than in recent years. (See graph River Oaks Sales All Price Levels.) Also, note that, at
In the overall River Oaks market at mid-June 2016 there are just 40 houses for sale on MLS, plus six lots. Fourteen of those houses are in pending contracts, leaving just 26 houses for buyers to choose from. Perhaps that’s just as well as we head into the dizzying heat of the summer when, so often,
At the turn of the year, readers of this monthly newsletter and our twice-yearly River Oaks Market Report may recall we reported positive momentum in this specific real estate market, especially at the high-end. This was a contrarian observation at a time when, judging by the comments of most market participants, we were about to enter
This month let’s look at the overall River Oaks market and how activity in the various price ranges compares. By mid-April 2016, inventory levels have crept up to a new critical level. While there is nothing unusual about 12 months or more of inventory at this time of year (as measured by the number of
The street talk has been of how low oil prices may negatively affect the real estate market in River Oaks, especially at the high-end. There was even an alarmist article with that implication in late-February published by Reuters and since then picked up by other media. However, the article was lazily researched and rather misleading.
The 2016 outlook and year-end review edition of the River Oaks Market Report, published by Cameron Ansari and Teresa Byrne-Dodge, has just been released.
If you examine the charts showing available inventory and overall sales of houses in River Oaks, you will note that the years 2015 and 2014 look remarkably similar.
This is the question posed repeatedly of late by one of our favorite buyer clients. The cheeky and obvious answer is, “Because you didn’t buy it.” It is a relevant question in our current River Oaks market where many delightful homes are not selling, and a challenging one to answer – though never as challenging