614 Rutland

What does it all mean? First of all 6 sales in 6 months is pretty low volume. We want to see at least 10 or so for a confidence boost. The good news is that with a median sales price of $1,487,500 we can be quit sure that the home will appraise. Know that the median represents the best value as it represents the sales of only the most desirable homes at a given time. However, if the home is much better in quality and has more desirable amenities I can support a sale up to $1,620,630 as shown in the top gauge. With the best homes taking 82 days to sell, we see that buyers can be selective. This is further enforced as the inventory level is 4 months and in my opinion that indicates more of a buyers market. Further, homes are selling for 90.8% of their original list price and this means buyers can negotiate deals. Overall Houston sits at 3.2 months for context. This means that if we stop listing houses for sale it will take 3.2 months to sell all of it. The appreciation of 14.2% is encouraging. That means the sale prices are far higher than they were for the same period last year. Lets take a look at the area: