Hi neighbor,
Today I will be sharing with you our perspective on the local real estate market here in Montgomery, Texas, specifically a market update for the neighborhood of 77316. 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 77316?
We currently have 85 homes pending, with 23 homes sold in the last two weeks, averaging a sale price of $202 a square foot. Twenty-Three 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 32 sold, and the average sales price is down as well. This is most likely a coincidence, so we will be sure to keep an eye on it over the next couple of weeks. 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 homes are going, 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 the neighborhoods. 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 77316.
Insight From Jo
Hello friends and happy new week 
I wanted to check in and share what I am seeing this week across the greater Houston real estate market. Things are continuing to settle into a steady rhythm, and that creates some really interesting opportunities depending on where you stand as a buyer or a seller.
What I am seeing this week
Inventory is still giving buyers more breathing room.
We continue to see a healthier number of homes available compared to the frenzy of previous years. Buyers have more options and more space to think through decisions. Sellers are learning that preparation, condition, and strong presentation are what truly stand out right now.
Home values feel steady with light pressure in some pockets.
In parts of Greater Houston, pricing is still showing slight year over year softening, especially in homes that need updates or are priced too aggressively. Meanwhile, homes that are well cared for and in great locations are still moving and holding their value well.
Mortgage rates remain in the mid 6 percent range.
Rates have been fairly stable lately. Buyers are adjusting their expectations around payment and price, and sellers are becoming more aware of what today’s payment environment means for affordability and demand.
Fall activity continues to favor serious movers. 
Buyers right now are more intentional. They are shopping with purpose, not just browsing. Homes are spending a little more time on the market, and price adjustments remain part of the conversation. This creates room for thoughtful negotiations on both sides.
What this means for buyers this week
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You still have more leverage than we saw in recent years, especially on homes that have been sitting.
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The most desirable homes are still competitive, so being prepared matters. Pre-approval and clear buying goals continue to be key.
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Homes that need cosmetic updates can offer strong value right now if you are open to improvements.
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Keep your monthly budget front and center. The smartest buyers are focusing on comfort and long-term stability.
What this means for sellers this week
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Homes that show well continue to win buyers’ attention. Clean, bright, and well staged listings feel like the safest choices for buyers right now.
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Pricing correctly from the start matters more than ever. Overpricing is leading to longer days on market and multiple reductions.
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This is still a great time to prepare your home for a strong fall showing period while motivated buyers are active.
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Serious buyers are still out there. They just expect value, condition, and realistic pricing.
My two cents
We are still sitting in a smart, strategic market. It is no longer rushed or emotional like it once was. The buyers who are winning are confident, prepared, and patient. The sellers who are winning are honest about pricing, thoughtful about condition, and clear about their goals.
If you are buying, this is a moment to move forward with confidence instead of fear.
If you are selling, this is still a market where great results are possible with the right plan.
This week’s market is not about speed. It is about alignment, timing, and strong guidance.
What is happening in the real estate market nationally?
| MORTGAGE RATES CURRENTLY TRENDING | THIS WEEK'S POTENTIAL VOLATILITY |
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Notable News
- Mortgage rates tick higher nationally, with the average 30-year fixed rising to about 6.36% this week. Read Now >>
- Zillow projects a calmer 2026 U.S. housing market, with prices stabilizing and affordability improving modestly as more metros stop declining. Read Now >>
- Goldman Sachs estimates the U.S. is short 3–4 million homes, keeping affordability strained until supply meaningfully expands. Read Now >>
Market Recap
- Mortgage application submissions slipped 1.4% during the week ending 11/28
- The ADP nonfarm employment change was -32,000 in November despite predictions for a 5,000 increase
- Initial jobless claims we’re at a level of 191,000 during the week ending 11/29, which was a decrease of roughly 30,000 from the week before. Continuing jobless claims were at a level of 1,939,000 during the week prior, which was a decrease of 4,000.
- The core PCE index inched up 0.2% month-over-month in September and was at 2.8% year-over-year. Personal income increased 0.4% in September, which was higher than 0.3%. Consumer spending increased 0.3% month-over-month.
Review of Last Week
TWO FOR THE MONEY… The three big stock indexes all posted gains two weeks in a row, this time driven by rising expectations for another rate cut from the Fed at the FOMC confab the day after tomorrow.
The catalyst for increased confidence in a cut came with Fridays milder than expected September PCE Prices, the Fed's favorite inflation measure, while Personal Income and Spending gains were positive for the economy.
Initial jobless claims fell to their lowest level in nearly two years. Plus, University of Michigan Consumer Sentiment rose for the first time in five months on improved expectations for inflation relief and personal finances.
The week ended with the Dow UP 0.5%, to 47,955; the S&P 500 UP 0.3%, to 6,870 and the Nasdaq UP 0.9%, to 23,578.
Bond prices cooled a bit overall, the 30-Year UMBS 5.0% dipping 7 basis points, to 99.20. Freddie Mac reports the national average 30-year fixed mortgage rate fell for the second straight week and is a half percent lower than this time last year. Remember, mortgage rates can be extremely volatile, so check with your mortgage professional for up-to-the-minute information.
DID YOU KNOW… Zilllow says the typical U.S. listing in October experienced $25,000 in price cuts, “matching the biggest discounts Zillow has tracked.” High home values are allowing sellers to cut prices and still see a profit.
Market Forecast
MORTGAGE APPLICATIONS, PRODUCTIVITY, INFLATION, THE FED… We'll check this week's MBA Mortgage Applications Index to see if buyer demand continues to hold. The preliminary Q3 Productivity read should show another gain, a good sign for the economy. Wholesale price inflation is forecast to moderate by the November Producer Price Index (PPI). Wednesday, everyone will be fixed on the Fed's FOMC Rate Decision, expected to deliver a quarter percent drop.
Summary
The Mortgage Bankers Association reported that last week purchase mortgage applications rose 3% week-over-week and 17% year-over-year, sending buyer demand to its highest level of the year.
Realtor.com found that the difference in the monthly cost of home ownership between new and existing homes is almost negligible—only a $30 difference in the period from July to September.
During Thanksgiving week, things finally got moving in a buyer-friendly direction. Buyers saw the weakest home price growth in over two years, and more choices, with inventory up almost 12% from last year.
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..
Now if you are feeling overwhelmed on where you should plant your roots, I would love to talk to you. You can schedule a call with me by click this link: http://byjoandco.com/call or just send us an email: [email protected]. There are some amazing communities all over the Houston suburbs. In this post, https://search.byjoandco.com/blog/best-neighborhoods-in-houston/, I deep dive into all the different suburbs/neighborhoods that you might want to consider, and why. There are many resources here, so please reach out if you are curious what to look at next! Thank you for trusting us.
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