Hi neighbor,
Today I will be sharing with you our perspective on the local real estate market here in Spring, Texas, specifically a market update for the neighborhood of Memorial Northwest. Whether you are looking to buy, sell, or just keep an eye on the market, we look forward to being your resource.
What is happening in the real estate market in Memorial Northwest?
We currently have 12 homes pending, with 2 homes sold in the last two weeks, averaging a sale price of $124 a square foot. Two homes sold over the asking price, with one home selling 1% above the listing price.
Compared to the two weeks prior: Homes sold are slightly down from 9 sold, but the average sales price is up to $417,000 ($397,522 previously). Every home is different, with different features, so don’t forget to ask us for your annual equity review if you are curious about your personal home. You can request your free home evaluation here or email us here.
If we look at how fast the move-in-ready (modern) homes are going (must not be overpriced), the demand in this area has not surpassed the supply, making it still a great time to sell. Buyer agents around Houston are seeing a slow in the real estate market, but it isn’t affecting every neighborhood. I know the interest rates rising has been one deterrent from some buyers purchasing right now, but that isn’t your ideal buyer anyways!
The most desirable homes in the area are still selling the first weekend or first week they hit the market (a really good coming soon campaign, like we do at Jo & Co. allows you to sell faster, for more money).
Check out the graphic below for a larger overview of the real estate market for the last two weeks in Memorial Northwest.
Insight From Jo
Hey sweet friends — it’s time for another little peek into what’s been happening in the real estate world over the last couple of weeks. Things have definitely settled into that cozy fall rhythm, and the market is finally feeling… well, balanced. Not crazy hot, not ice cold — just steady and thoughtful. Let’s dive in.
💬 What’s Trending (and What It Means)
📦 Inventory is inching up.
We’re finally seeing a bit more breathing room for buyers! More homes are hitting the market, and it’s giving everyone a little space to slow down and make decisions that feel right — not rushed.
🏡 Home values are softening slightly.
Nothing dramatic, just a gentle correction. Think of it as the market finding its footing after the wild ride of the last few years. For buyers, that means opportunity. For sellers, it means pricing wisely matters more than ever.
💵 Mortgage rates are still hovering in the (low and) mid-6s.
Yes, they’re higher than we’d all love, but stability is a good thing. Many lenders are offering creative programs and temporary buydowns, so if you’re waiting for rates to drop — you might be waiting longer than necessary.
🍂 Fall is doing its thing.
This time of year always brings a little calm. There’s less competition, more realistic pricing, and buyers who are serious about making a move before the holidays. It’s honestly one of my favorite seasons in real estate.
🎯 What This Means for Buyers
If you’ve been sitting on the sidelines, this might be your window. You’ll likely have more choices, a little negotiation power, and less pressure. The best homes — clean, updated, and in those highly sought-after neighborhoods — are still getting attention, but the frenzy has definitely cooled.
And if you’ve got your financing in place, you’ll be in a great position to make a strong offer when the right home comes along. Bonus tip: don’t overlook homes that need a little cosmetic love. They often come with the best deals right now.
🏠 What This Means for Sellers
If you’re thinking about selling, presentation is everything. The homes that are moving quickly are the ones that look and feel ready — clean, bright, and priced with today’s market in mind. Buyers are picky right now, but they’re still out there, especially for homes in great locations.
If your plan is to list before the end of the year, now’s the time to prep. A quick refresh, new photos, and good marketing can make a huge difference. The sweet spot right now? Well-staged homes in move-in-ready condition that hit that emotional note with buyers.
🧠 Two Cents Summary
The market feels refreshingly balanced. No panic, no rush — just steady energy. I’m seeing thoughtful buyers, motivated sellers, and a growing confidence that 2025 will bring opportunity, not chaos.
If I had to sum it up: this season is about strategy over speed. Whether you’re buying or selling, the wins are going to come from patience, preparation, and great representation. 😉
What is happening in the real estate market nationally?
| MORTGAGE RATES CURRENTLY TRENDING | THIS WEEK'S POTENTIAL VOLATILITY |
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Notable News
- Survey shows most home buyers expect mortgage rates to decrease further. Watch Now >>
- How national debt could impact mortgage rates. Read Now >>
- How the government shutdown is affecting housing. Listen Now >>
Market Recap
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Mortgage application submissions decreased 0.3% during the week ending 10/17. Refinance application submissions increased 4% while the seasonally adjusted purchase index decreased 5%
- Existing home sales jumped 1.5% in September
- The consumer price index showed slowing inflation in September, inching up just 0.2% month-over-month and 3% annually which was lower than expected
Review of Last Week
COOL INFLATION, HOT STOCKS… Investors believed a cooler than expected inflation read signaled two more Fed rate cuts to close out the year, and solidly sent the three major stock indexes to new record highs.
Delayed by the government shutdown, the September Consumer Price Index (CPI), posted a modest 0.3% monthly gain, allowing the Fed to go ahead with another rate cut this week to help boost a weakening labor market.
All was not copacetic, as October University of Michigan Consumer Sentiment remained pressured by inflation expectations that have yet to materialize. Traders focused instead on signs of progress in U.S.-China trade talks.
The week ended with the Dow UP 2.2%, to 47,207; the S&P 500 UP 1.9%, to 6,792; and the Nasdaq UP 2.3%, to 23,205.
Overall, bond prices inched up, but the 30-Year UMBS 5.0% slipped 31 basis points, to 99.73. Freddie Mac’s weekly survey reported the national average 30-year fixed mortgage rate fell another 8 basis points to the “lowest level in over a year.” Remember, mortgage rates can be extremely volatile, so check with your mortgage professional for up-to-the-minute information.
DID YOU KNOW… The latest America at Home Study found 50% of respondents said they would now consider a rent-to-own arrangement to achieve homeownership, up substantially from 33% in the prior study.
Market Forecast
HOME PRICES AND PENDING SALES, INFLATION, THE FED… The August Case-Shjller Home Price Index is expected to continue to show a modest uptick. Pending Home Sales should reveal another increase in signed contracts on existing homes in September. The forecast for September PCE Prices is for inflation to remain moderate, though still above the Fed's 2% target. But the FOMC Rate Decision is still for the rate to drop another quarter percent to help stimulate a softening labor market.
Summary
Existing Home Sales grew 1.5% in September as the median price declined and affordability improved. Inventory is 14% ahead of a year ago, pushing the supply closer to the 5-month benchmark of a normal market.
Buyer demand is increasing, with the Mortgage Bankers Association reporting 11 straight weeks of double-digit year-over-year growth in purchase mortgage applications, with last week coming in 20% ahead of last year.
The government shutdown delayed the September New Home Sales report, but the Zonda New Home Market Update posted that sales rose 3.1% in September, and were essentially flat (up 0.6%) from a year ago.
Can we sell yours?
So if you are in need of a listing agent, we would love the opportunity to see your home and meet you of course. My husband, Edward, and I, look forward to being the brokerage and team for you! You can reach out to us via email: [email protected] & [email protected] or telephone: 832-493-6685.
Read more:
If you are curious ‘How to get more money for your home when listing it for sale', check out this blog post.
I hope you have found this blog post super helpful. If there is anything else we can do for you, including helping you sell (or buy) a home, I would be honored to assist. I hope you have a great day/evening. Cheers, E + J.
We are so happy you found our little corner of the interwebs. We look forward to y'all reaching out to us. We love to answer questions and welcome them. Recently we created some local maps, and you can download those by clicking the image/link above. Below, you will find an index of some very helpful information to assist you in learning more about the Houston suburbs. If you are relocating to our neck of the woods, we hope you reach out to us, because we would love to help you by being your local realtor and friend. Thoughtfully written for you. Hugs, Jo.
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If you are overwhelmed..
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