The Pearland TX real estate market continues to shine very bright. Looking at the trends over the last 2 years, you can see the Pearland TX housing market is doing better than ever. In April 2007 the average sales price was at an all time high of $192000 and in April 2008 the average sales price jumped to $203000 and in April 2009, Pearland is setting new records with an average sales price of $210000. So the average sales price in Pearland TX is up $18000 in the last 3 years... And I for one say that is great.
Now I will say the Pearland TX real estate market has slowed in volume. So what does that mean? It means that not as many houses are selling or for Sale. Pearland only has about 3.9 months of inventory to sell at this time and is what is driving up the price. Before Ike hit our area, we had almost 11 months of inventory in the Pearland market. In looking at the chart below, you can see the Pearland real estate market is vey healthy. The DOM or Days on Market is averaging 76 days. Compared with the national average of 180 days, Pearland is doing great.
Now let's look at the absorption rate of real estate in the Pearland TX housing market. What you want to see in this chart is residual inventory falling and homes under contract and new listing trending upwards. And as I see it, the Pearland market is doing just that and in a big way.
So what does this mean for the person wanting to buy or sell real estate in the Pearland TX area? It shows you NOW is the best time to buy or sell real estate and a lot of people are doing just that... Donald Trump and Dave Ramsey both said last week on Fox news that this is the best time to move real estate in the last 20 years...
Whether you're interested in buying your first home, your next home, or just want to know more about home-ownership in general, I encourage you to check out a couple of great online resources: http://www.texasrealestate.com/ or http://www.har.com/ and for all of your Pearland TX and Northern Brazoria and Galveston County real estate needs, please visit my site at http://www.danfrankrealty.com . All of these sites offer tons of useful, real estate-related information geared specifically for Texans.
Danny Frank is a local Pearland TX Real Estate expert