2015 Real Estate Trends in Sugar Land, TX
Before looking at homes for sale Houston buyers should take a little time to learn about the current real estate market. Understanding how things are trending will give you a better idea of how aggressive you need to be and how to negotiate a successful home contract. Here’s a quick look at the top trends in the Sugar Land market.
Finding a new home in Sugar Land, TX will get easier. To meet buyer demand home builders like Sitterle Homes have been busy building new homes with the latest features and amenities. This has helped add more new homes to the tight inventory.
Building will slow in the luxury market. Upscale communities like Providence at Riverstone that are moderately priced will still see growth, but the building of properties over $1 million will slow. This is largely due to uncertainty in the oil industry, which brings in many high-end luxury buyers.
Home prices will continue to slowly increase. Between June 2014 and June 2015 median home prices in the Houston area increased by 8.05%. The average and median price will likely continue to increase at a rate of around 4-6% over the next year.
It’s still a seller’s market. Even though things have slowed in the last few months there is still only three months of inventory, which makes Sugar Land a sellers market.