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 in the River Oaks market, or at least on the fringes of it.
• All real estate is local, even all the way down to a neighborhood block.
The most commonly asked question we hear from River Oaks buyers is: How has the softening of the energy sector affected prices in River Oaks? Are they down by a lot? We actually have real answers to these questions, based on up-to-the day data. In short, prices are up. But take a look at the charts in the mid-year report to see how nuanced this market is.
Many River Oaks buyers are strikingly young … or is it just us getting so old? Even more remarkable, many work in the energy industry or in professions directly connected to it (see the Market Demographics section the printed report).
While many of the buyers are local, a surprising number are relocating into Houston. And while most of the out-of-town buyers end up initially buying in other neighborhoods, quite a few immediately recognize the value that River Oaks presents.
When selling property in this neighborhood it is crucial to understand would-be buyers and what it is that attracts their interest and motivates them to take action.
As we look back at the first six months of 2016, we can conclude that buyers at the entry level are in a hurry, but are very price sensitive. Those in the mid-sector, between $2 million and $4 million, are risk-averse and typically make elective decisions about real estate. And those at the high end buy when there is a case of compelling value or rare opportunity.
There are so many more of these qualified buyers waiting in the wings. Knowing how to reach them and educating them about the relative value of different property types and sections of the neighborhood is a big part of what we do.
We get your property noticed by those who matter through a combination of marketing savvy, smart ideas, contacts, years of practice and hard work. Sometimes we do it by being noisy and colorful; at other times we are subtle and discreet.
We hope you will use our skills and services when selling property in River Oaks.