When it comes to gauging market activity in real estate, measuring the number of months of available inventory* can provide intriguing insight beyond the usual statistics. Let’s start by agreeing that fewer months of available inventory = relatively more active sales. In other words, less is better. For the sake of this discussion, we are
In our recently mailed 2020 Mid-Year River Oaks Market Report we remarked that, while sales in the first half of 2020 at the high end of River Oaks – that is, properties priced $4 million or higher – did not exceed the number for the same period in 2019, they were not very far behind.
We haven’t talked to anyone in the past four months without hearing some version of the same question: How is the real estate market during the COVID-19 pandemic? HAR.com issues monthly updates on the entire greater-Houston market area, as you surely know, and the real estate market varies widely from area to area. We have
Overview As we prepare for the biannual edition of our River Oaks Market Report (to be published in July), we have been trying to examine the extraordinary past few months from the perspective of comparison with the same period in 2019. How weird has this year truly been? Clearly, the first half of 2020 was
It is challenging to make astute comments about a real estate market that has been understandably inactive since mid-March. So, suffice it to say that River Oaks is largely in wait-and-see mode. Here are a few general observations based on the data: River Oaks Inventory The number of houses for sale in River Oaks has
Regular readers will be relieved to know that this month’s River Oaks market update will have more pictures and fewer words than usual. And yet, looking at the graphics alone would convey a more dire message than is truly the case. There’s more to the story. Read on. Showing Activity Let’s face it, showing activity
If you receive our twice-a-year River Oaks Market Report – the 2020 Outlook edition is set to drop this week – you can skip the next two paragraphs of explanation and get right to the meat of this blog. Otherwise, allow us to explain how we track and categorize real estate sales in River Oaks.
The market in River Oaks took off like a shot, even before the starter’s signal marked the beginning of the new year. The week between Christmas and New Year’s Day was not just busy with the usual logjam of closings ahead of the year end, but showings and negotiations were also already well underway. Some
The week after Labor Day is the traditional start of the Houston real estate market’s second wind, especially in River Oaks. All was going to plan until Tropical Storm Imelda hit the city in the third week of September. Then the market curled up and went into a deep sleep. A quiet last week of