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 Terranova West. 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 Terranova West?
We currently have 6 homes pending, with 1 home sold in the last two weeks, averaging a sale price of $122 a square foot. One home sold over the asking price.
Compared to the two weeks prior: Homes sold are slightly down from 2 sold, but the average sales price is up to $374,800 ($347,250 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 Terranova West.
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
- ARMs are heating up. Read Now >>
- 2026 predictions for mortgage rates and home prices. Listen Now >>
- Pending home sales hint at growing confidence. Read Now >>
Market Recap
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The FHFA House Price Index for August showed prices rising 0.4% month over month and 2.3% year over year, indicating steady but slowing appreciation.
- The Case-Shiller 20-City Home Price Index for August reported a 0.2% monthly gain and a 1.6% annual increase, pointing to continued but moderating home-price growth.
- Mortgage application submissions for the week ending 10/24 rose 7.1% from the prior week, with purchase applications up 4.5% and refinance applications up 9.3%.
- Pending home sales were unchanged in September despite a predicted increase in contract signings.
- At its October 2025 meeting, the Federal Reserve cut interest rates by 25 basis points to a range of 3.75%–4.00% and signaled a cautious stance on future adjustments.
Review of Last Week
WINNING MONTH… The three major indexes notched weekly and monthly wins, as traders sent stocks northward, buoyed by a quarter point Fed rate cut, a U.S.-China trade deal, and better-than-expected Q3 corporate earnings.
Fed chair Jerome Powell turned hawkish in his presser, warning us that we shouldn't take a rate cut in December for granted, but the futures market still booked a better than 60% chance we'll get one.
The Consumer Confidence Index didn't show much change in October, but there wasn't a lot more economic data, courtesy of the government shutdown. Instead, traders rallied around the booming investment in AI.
The week ended with the Dow UP 0.8%, to 47,563; the S&P 500 UP 0.7%, to 6,840; and the Nasdaq UP 2.2%, to 23,725.
Bonds headed in the other direction, the 30-Year UMBS 5.0% down 56 basis points, to 99.17. The national average 30-year fixed mortgage rate decreased for the fourth consecutive week in Freddie Mac’s weekly Primary Mortgage Market Survey. Remember, mortgage rates can be extremely volatile, so check with your mortgage professional for up-to-the-minute information.
DID YOU KNOW… According to a national online real estate database, during the four weeks ending October 26, median monthly housing payments saw their sharpest drop in almost a year, falling 1.4% annually.
Market Forecast
CONSTRUCTION SPENDING, MORTGAGE APPLICATIONS, SERVICES, MANUFACTURING, JOBS… There are no forecasts for the September Construction Spending or October Employment reports, as they're expected to be delayed by the government shutdown. But we will get MBA Mortgage Applications to check on current buyer activity. And the October ISM Manufacturing index should show that sector slightly in contraction, while ISM Services reveals the dominant sector of the economy is still expanding.
Summary
September’s Pending Home Sales index of signed contracts on existing homes was unchanged for the month, and down just a smidge year-over-year. Inventory hit a five-year high, giving buyers more options and room to negotiate.
Mortgage demand rebounded last week, as applications for purchase mortgages were 4% higher for the week, and 20% higher than a year ago, with more borrowers opting for fixed-rate loans.
Home price increases continue to slow. August’s S&P Cotality Case-Shiller index was up just 1.5%, the weakest annual gain in over two years. These slowing price increases are improving the potential for greater affordability for buyers.
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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