Bernstein Realty’s Amy Bernstein discusses Houston’s housing market and her thoughts about days on market with the Houston Business Journal.
News about Houston’s housing market is dominated by stories of flash sales, multiple offers and ever-positive signs of a booming economy.
However, not all Houston neighborhoods are super hot. While some homes have sold in mere days or even hours, the average time it takes to sell a Houston home is 46 days, according to the Houston Association of Realtors. It’s still among the fastest on record, but much slower than some homeowners are led to believe.
Local Realtors have found that amid this housing frenzy, some sellers have inflated expectations about how quickly their homes should sell and for how much.
“People have a lot of confidence in the housing market. Everyone is very bullish,” said Realtor Amy Bernstein of Bernstein Realty. “This new expectation is something we as real estate professionals have to handle.”
Homes in the greater Houston area and surrounding suburbs are seeing great demand and low supply, so they are selling quickly. However, some properties, like mid-rise condominiums, are harder to sell, even in this hot market, said Bernstein, whose company is one of the fastest-growing in Houston. The company is also one of the highest-grossing Houston-area residential real estate firms.
Realtors must understand the market well to set the right asking price so the home sells, she said.
“Now more than ever, the real estate professional and the seller have to strategize to make sure the property (is) priced accurately to the market,” she said.
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