Welcome, hot, humid, and rainy summer! This must be nearing August. We hope you have had some fun times with family/friends this summer. It is bittersweet that it is quickly coming to a close with school starting in just a few short weeks. Our kids are looking forward to going back and getting into a schedule and seeing all of their friends, but that means early mornings and crazy schedules!!
Every summer, our family always goes on a vacation with Jack and Mary Anne and this summer we chose Avon, CO, which is a few minutes away from Beaver Creek and Vail. It is a lovely resort and we enjoyed swimming in the pool and the largest fireworks show in the west with the Houston Symphony orchestra providing the music. We attended a huge Farmer's Market in Vail Village, went on a pretty long hike across Vail mountain (the girls weren't as enamored as we were with the 3,500 foot elevation change), ATV rides up and down the mountain, horseback riding, zip line tour of the ski slopes of Vail, Bungee trampoline jumping, tube sledding down the mountain, Alpine sledding and attending an authentic rodeo at a ranch. If you have never been to the Vail area in the summer, we highly recommend going. It is absolutely stunning!
Kylie and her baby Jackson are doing great and her older son Trey is being a great big brother. Kylie has been extremely busy helping clients as well. We are so thankful to have her on our team!
Thank you to our friends, clients, and referral partners for attending our July Happy Hour last week. We realized at the Happy Hour that our evite never went out. Our apologies and we'll ensure it goes out this month. Save the date for the August Happy Hour on Wednesday, August 16th from 5-6:30PM at Matt The Millers again. We would love for you to join us!!!
Speaking of saving the date, we are finalizing plans for our 5th Annual Client Appreciation Event this year. Tentatively, we are planning on Saturday morning, December 2nd at Hamilton Town Center and showing the new Pixar movie Coco, which will be released the week before. Check out the trailer here. We hope you will join us again to say thank you for being such amazing clients and introducing us to so many people you care about who need our help.
Last month, we were recognized as having the shortest days on market for our listings in 2017 of the Top 500 agents in the city (out of over 7,500 agents). Our average days on market was only 19!!! We work so hard for our clients to market their houses for a quick sale to net them the highest price the market will bear with the fewest amount of hassles and are thrilled to be recognized. If there is someone you care about who needs our help selling, please introduce us so we can help them as well!
It should be noted that our market has definitely slowed from the white hot market conditions we experienced as recently as last month. Some houses are selling extremely quickly, but most are seeing more 'normal' time on the market and it might take a few weeks or months to sell now, especially in the higher price ranges (above $400,000). This is not uncommon, but is extremely difficult to predict. If you or someone you care about has a house on the market and it isn't selling as quickly as you expected, don't freak out. Our inventory is still extremely low and the market is still very good. Just understand our market has changed since the end of June and having realistic expectations is important.
Here are the June stats from MIBOR comparing June 2017 to June 2016 housing data:
New listings-UP 2.5% to 4,717 units
Pending sales-UP 10.1% to 3,511 units
Closed sales-UP 6.9% to 4,168 units
Median sales price-UP 6.4% to $173,355
Average sales price-UP 4.4% to $212,914
Percent of original list price received at sale-UP 0.7% to 96.7%
Total active listings available at month end-DOWN 16.5% to 9,314
Months supply of inventor/absorption rate-DOWN 22.5% to 3.1 months
As you can see, our market is still very hot with numbers we have not seen before. If you have any questions, please feel comfortable contacting us.
Enjoy the August edition of the newsletter...and the rest of your summer!
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Your friends in real estate,
Steve, Jack, & Kylie
