It’s been a contrary 12 months in the River Oaks real estate market. Here’s a quick recap in advance of our twice-yearly print publication, the River Oaks Market Report that will be published in January. January The price of a barrel of oil dips below $30. Only the bold are buying real estate in River
With Thanksgiving out of the way one might assume it would be appropriate seasonal behavior to wind real estate business down for December and jump ahead to thinking about the new year. Nothing could be further from the truth for those of us working in the River Oaks market. In past years, especially before 2008,
One could be forgiven for assuming that it’s a time bomb you hear, but, thankfully, it’s the early telegraph quietly signaling that there is life in the River Oaks real estate market as we approach November 2016. And it’s not a moment too soon, for it has been rather gloomy of late. As showing activity
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.