September residential home sales data has just been released by the Beaumont MLS.  Its on its way to The Real Estate Center at Texas A&M. 

If you are currently selling your home or planning to put your home on the market soon then here's five things you need to know.

1. In all but three price categories we have an excess supply of inventory on the market.  (Six months supply is considered ideal for buyers and sellers)
2. In the higher price ranges, homes priced above $300,000, there is over a year supply of homes currently for sale.
3. Over $400,000 there is close to a 4 year supply at the current sales pace.
4. The majority of the home sales in September were in the $120,000-$150,000 price range.
5. Average sales price for September was $150,495.

Here's how it looks on a graph. 

Buyers in almost every price category have a good number of homes to choose from.  If you are trying to sell a home you need to know what your competition is doing.

Every home seller should know these three things about the competition:

1. How many homes in your neighborhood comparable to yours have sold in the past ninety days?
2. How many homes in your neighborhood comparable to yours are currently on the market?
3. What incentives (seller paid closing costs) have successful home sellers paid to get their home sold in the past ninety days?

If you are selling your home and you don't know these three things ask your real estate agent.  If you are planning to sell your home and want to know these things then contact me. You can reach me by blog, by phone, by text or email.