West University Place / Southside Area March 2023 Market Report

** Click Here for March 2023 Market Report for West University Place / Southside Area (<1 minute video) 

West University Place / Southside Area 

Currently there are: 

42 homes for sale

14 homes for lease 

Houston Overall 

Available Homes for purchase has decrease 18.3% 

Average Days a Home is on Market before being sold is 2.7 months (from 1.1 Months) 

The market is moving into a more balanced market whether neither buyer or seller has advantage. We are getting back to good old fashion negotiation and preparing a home for sale to compete with other homes available. 

Interest Rates currently ranging from 6.17% - 6.77%.

These are similar rates we experienced in the early 2000s. Then we had the real estate bust. Afterwards to pick up the economy rates were slowly lowered into the mid to high 3's (%) before picking back just a bit before lowering into the the high 2's (%) during covid. 

Please share with the world. There is opportunity in every market, it's about how to best approach each cycle the market is in.

Have a wonderful day and thank you for your support. 

Sources:

Stats www.HAR.com

Current rate https://www.bankrate.com/mortgages/mortgage-rates/

Interest Rate https://fred.stlouisfed.org/series/MORTGAGE30US 

** HAR.com is aware of video title not matching video (Feb.) they are working to fix the issue.