The last two weeks have been a whirlwind. Some markets are up up up, and some markets are still normalizing. The few notable markets that are “up up up” are Tanglewood, Bellaire, Sugarland, and The Woodlands.

 

Of particular interest, in my opinion, is The Woodlands. I’m seeing multiple offers situations complete with offer deadlines in the $800,000-$900,000 price range. Sugarland (most likely if zoned to Clements HS) is also experiencing the same but even more competitive, in that we are seeing the return of the seller request of the buyer to waive their right to terminate due to a low appraisal - an addendum we have not seen used prolifically since this time last year.

 

In stark contrast, what I’m also seeing is lowball offers. To the tune of $30,000-$60,000 low. Every buyer, seller, agent, and appraiser seems to have their own expert opinion on where the market is. Is it up because of the Spring season? Is it down because of interest rates? Is this the last “buyer’s market” we will experience for the next few years? Are we headed upwards… or downwards?

 

Of course it’s no secret that the ‘burbs perform differently than inner loop neighborhoods, but the contrast never ceases to be so wildly fascinating to me. Below I’ve included the most recent snapshot of Bellaire.