Spring, Texas is a great place to purchase or sell real estate. Texas has continued to have a stable economy as the country has wavered over the last two years. In March of 2012 there were about 290 homes that sold in Spring, Texas. Some were distressed properties. In the first half of March 2012 the average list price, according to the Houston MLS, was about $234K. The average home sold for about $234K. That’s about $86 a square foot. In general, it took about three months to sell a home, when some parts of the country were taking as long as two years to sell properties. The average square feet of the homes sold was around 2650. These were mostly 3 bedroom, 2 bath homes built around 1996. Currently, at the beginning of April 2012, there are about 620 pending sales in the MLS for Spring, Texas, proving the buyers are out this spring.
For the Spring renatal market, about 200 homes were rented in the first half of March. Those averaged 2000 square feet and had three bedrooms, two baths, and were on the market for about a month before renting. The average rental price was aboout $1400. So if you are thinking about investing in real estate, you might want to look into the rising rental markets in the area. If you would like help purchasing or selling a home in the Spring area, please call RREA today to talk with one of our Realtors.