Have you ever thought of selling your home but wondered if your local market area had enough buyer activity to make the effort worthwhile?  Now, you can watch the activity daily through emails that give you the amount of online buyer activity by market area and by your homes price range. The report includes the number of searches for homes like yours in your zip code yesterday, last week and in the last 30 days.  To acquire this free, no obligation report for your home, simply log on to www.GaryGreene.com, select Locate an Agent and e-mail the agent of your choice a request to receive an Online Buyer Activity Report.

 

Online Sellers Advantage is an excellent tool for sellers who dont want to guess when its a good time to sell.  The online buyer activity report is just the first of many features that Online Sellers Advantage provides.  Once a home is placed on the market, sellers receive their choice of either daily or weekly notices of how many times their home has been searched by a prospective buyer through Yahoo.com, Prudential.com, or Trulia.com.  The seller can stay informed during the listing process about online activity, so they can compare that activity with their homes actual showings.  The home is also displayed as a Featured Property through our exclusive online advertising campaign with a multitude of web partners.  A Featured Status listing enables the home to stand out amid other listings and is a buyer attention grabber.  Finally, Online Sellers Advantage assigns each home listed with Prudential Gary Greene, Realtors a Web ID that, when advertised in print media, enables a buyer to instantly receive property details of the home. The strategy connects print advertising with the Internet so that both media are working together on behalf of the seller.

One of the most frustrating experiences for a seller, in a competitive market is not knowing what amount of actual buyer activity is occurring in their area while the home is on the market.  Online Sellers Advantage goes a long way in communicating activity while it raises the homes online market position.  We invite you to go to www.GaryGreene.com and select Locate an Agent and let the Online Sellers Advantage system start working for you.

First Quarter2008 Single-family home sales

Houston Overall Statistics March YTD 2008

         Single-family home sales were 13% less than found in First Quarter YTD 2007 sales with 13,240 MLS recorded sold units, In First Quarter YTD 2005, there were 12,504 MLS recorded home sales indicating that although the market is down from last year, it is up by 6% from what is currently known as the third greatest year in Houston history.

         Dollar volume sold in MLS through First Quarter 2008 is $2,667,682,458 which is a 10% decline in dollar volume sold over last year.  However, dollar volume is currently up by 20% from YTD 2005.  

         Average sales price YTD is $201,487 or 3% greater than this time last year.  And how far we have come from 2005 where the average sales price was $176,544, or 14% less than current.

         Active listings are up by 10% with 35,053 single-family homes on the market.  In 2005, there were 29,339 single-family homes on the market or 19% fewer homes than currently found.

         Contracts written, which represent 2008 First Quarter buyer demand in Houston are down 12% over this time last year with 11,109 homes that have gone under contract.

         Average sales price per square foot is $87, which is the same as last year. 

         Days on the Market, a statistic that is good if it is declining has gone up by 11% since last year and the average time to sell a home in Houston is 90 days.  

The Houston market sales year-to-date seems to be one of extremes, particularly in sales closed by price class.  The number of homes sales in

1.       homes priced below $79,999 are up,

2.     homes priced between $80,000 - $599,999 are down in number of units sold since last year [except $300,000-$399,999 is even with last year]

3.     homes priced between $600,000-$699,999 are up 2% over last year

4.     homes priced between $700,000-899,999 are down over last year

5.     homes priced from $900,000-$999,999 are up by 9% and

6.     The largest increase of any price class above $80,000 is homes priced $1,000,000 and more.  There has been a 28% increase in home sales in this price class since last year.  The high-end and low-end of the housing market is driving buyer demand more than any other price class.  It is unusual for Houston to see this type of price swing, which has atypically been like our average sales price depicts a predominantly middle market.

         Although the Houston market in the first quarter is not as strong as last year, it is one of the most positive markets in the nation and consistently at the top of nationwide lists in terms of value for the dollar and a great place to invest.

Atascocita Area 1

• Single-family home sales in the Atascocita area have declined 13.4% over March YTD 2007.  The market has experienced 504 home sales since the beginning of the year and last year there were 582 units sold during the same time frame.
• Contracts initiated this year are 7.91% less than those found a year ago.  There were 512 units that went under contract in March and last March there were 556. 
• Listings are up by 7.36% and there are currently 1,386 units on the market as compared to 1,291 last year.
• Median sales price YTD has declined 2.33% and currently stands at $146,500 and last year the median sales price was $150,000.  Median sales price is where half the homes sold above and half the homes sold below.
• The Atascocita area currently has 6.2 months of inventory.  Months-of-inventory is an indicator of the status of the market.  Currently, if no new listings came on the market, it would take 6.2 months to deplete the current supply.  Rather than being a buyer or seller market, Atascocita currently represents a balanced market, where neither the buyer nor the seller has an advantage.
• In March 2008, the Atascocita area was #8 on the Houston Hotness Index because 13.3% of its entire inventory went under contract during that one month.  Current market data indicates the market is one of the top ten hottest selling areas in Houston. 

Bear Creek Area 8

        Single-family home sales in Bear Creek experienced a 27.6% decline in the area in the First Quarter. There were 446 MLS recorded home sales, and in the First Quarter 2007, there were 616...

        Listings are up ever so slightly in the Bear Creek Market area by 1.53% over this time last year with 1,059 homes listed and on the market.

        The most important metric revealing current buyer demand is contracts pending.  They are down by 152 units with 354 homes receiving contracts in the First Quarter.  First Quarter contracts written last year registered at 506.

        The median sales price is higher than last years and currently stands at $146,380, an increase of 2.02%.  Last year, the median sales price was $143,480.

        The Bear Creek Market area currently has 5.2 months of inventory, which is a considerable increase in supply. Last year, the Bear Creek Market had 4.2 months of inventory.  This is still a sellers market and one of the best times ever to sell a home in Bear Creek!

        In March 2008, 11.1% of all listings in the Bear Creek area received a contract during the month, according to the Houston Hotness Index published by the Houston Association of Realtors for March 2008. 

Clear Lake Area 7

         Clear Lake was ranked #2 on the March Houston Hotness Index because 14.4% of all its listings went under contract during that one month!  The hotness ratio is pending sales [buyer demand] as a percent of listings.

         Clear Lake single-family home sales have declined by 64 units over first Quarter 2008 with 408 homes sold as compared to 472 last year.

         Contracts written and scheduled to close year-to-date are 53 units behind last year for a total of 314 MLS recorded pending sales.

         Homes listed and on the market in Clear Lake are up by 3 units or .40% from this time last year with 750 single-family homes on the market today as compared to 747 last year.

         Clear Lakes Average sales price is up by 4.87% and currently stands at $187,339, as compared to $178,637 last year during the same time frame.  The median sales price is also up slightly and currently stands at $149,900, representing a 3.38% increase over March YTD 2007s $145,000.

         Days on the market register at 83, which represents 5 more days it took to sell a home than it did last year.

The Heights Area 9

         The Heights single-family home sales have declined by 93 units over March YTD 2007 with 433 homes sold in 2008 as compared to 526 last year, a 17.68% decline.

         Contracts written and pending to close year-to-date are 85 units behind last year for a total of 305 MLS recorded pending sales.

         Homes listed and on the market in The Heights are up by 8.6% from this time last year with 1,314 single-family homes on the market today as compared to 1,210 last year.

         The Heights Average sales price is up by 13.04% and currently stands at $250,693, as compared to $221,775 last year during the same time frame.  Median price, where half the homes sold above and half the homes sold below the median price is up 22.88% and it is currently $239,000.

         Days on the market register at 97, which is 20 days more than it took to sell a home last year.

         The Heights was ranked #32 on the March Houston Hotness Index because 8.2% of all its listings went under contract during that one month!

North Area 12

        Sales in the North Market area in the First Quarter of 2008 have declined by 37 units in comparison to 2007.  The area recorded 416 closed single-family home sales and in 2007 experienced 453.

        Listings are up in the North Market area by 6.23% over this time last year with 1,126 homes listed and on the market.

        Contracts pending are up by .47% with 425 homes receiving contracts in the First Quarter of 2008.  Contracts pending in the First Quarter of last year registered at 423.

        Average sales price is slightly higher than last years average sales price and currently stands at $109,374 representing a decrease of 5.55%.  Last year, average sales price was $115,798.  The median price where half the homes sold above and half sold below in the First Quarter of 2008 was $104,140, down 6.18% from last year.

        The North Market area currently has 6.9 months of inventory, indicating the market is balanced, however further excess inventory could put it in a buyers market.

        A home seller in the North Market can expect to sell a comparably priced home for an average of 96% of the list price.  The average price per square foot in the North area is $57.

Northwest 13

        Sales have declined in the Northwest Market area in comparison to First Quarter 2007 by 9.02% with 605 MLS recorded home sales!

        Listings are up in the Northwest area by 5.12% over this time last year with 1,662 homes listed and on the market.

        Contracts pending are down by 14.13% with 547 homes receiving contracts YTD through First Quarter 2007.  Contracts pending in the First Quarter last year registered at 637.

        Average sales price is higher than last years average sales price and currently stands at $175,703 representing an increase of .22% Last year; average sales price was $175,309.  Paradoxically, the median, where half the homes sold above and half the homes sold below the median sales price, are down by .67% and currently stand at $144,030.

        The Northwest Market area currently has 6.8 months of inventory.

        In March 2008, 9.8% of all listings in the Northwest area received a contract during the month, according to the Houston Hotness Index.

Far Northwest 14

        Sales declined in the Far Northwest area over first Quarter 2007 by 6.35% with 413 MLS recorded home sales!

        Listings are up in the Far Northwest Market area by 14.51% over this time last year with 1,034 homes listed and on the market.

        Contracts pending are up by 2.99% with 379 homes receiving contracts YTD through First Quarter 2008.  Contracts pending First Quarter last year registered at 368.

        Average sales price is also higher than last years average sales price and currently stands at $211,757 representing an increase of 12.69% Last year; average sales price was $187,919.

        The area currently has 6.2 months of inventory.

        In March 2008, 13.3% of all listings in the area received a contract during the month, according to the Houston Hotness Index, earning the area a 7^th place ranking in the entire MLS area.

Conroe Montgomery County NW Area 39

        Sales are down by 27.11% in NW Montgomery County from this time last year over First Quarter 2007 with 242 homes sales recorded in MLS as compared to 332 last year.

        Contracts written year-to-date are down by 27.16% with 177 recorded pending contracts year-to-date as opposed to 243 last year.

        Listings are down over this time last year by 1.54%.  There are currently 961 homes on the market in the area.

        Average sales price is up over last year by 1.3.72% and currently stands at $250,857.  The median sales price is also up by 16.14% and is currently $187,500.

        The area has 8.4 months of inventory. The average price per square foot is $100 and average days to sell a home are 105, which is up from last years 101.

        The Houston Hotness Index indicates that the Conroe area sold 6.4% of its supply in the month of March.

East / Wood forest Area 2

        Sales are down in the East by 13.44% in First Quarter 2008 with 483 homes sales recorded in MLS as compared to 558 last year.

        Contracts written year-to-date are down by 5.5% or a total of 481 units recorded in MLS as pending contracts in First Quarter 2008 in contrast to 509 last year.

        Listings are up over this time last year by 261 units or 19.91%.  There are currently 1,572 homes on the market in the area.

        Average sales price is down from last year [8.80%] and currently stands at $90,592.  The median price is $85,900, down 10.47% from 2007.

        The area has 6.7 months of inventory, and is approaching a buyers market.  The average price per square foot is $59 and average days on market to sell a home are 74, which is down from last years 85.

Fort Bend Sugar Land Z 29

         Sugar Land area [Z29] ranked Number 1 on the Houston Hotness Index in March, with 16.2% of its listings receiving a contract during the month. 

         The hotness ratio is measures pending sales as a percent of active listings, [current buyer demand] whereas actual sales are a measure of buyer demand in previous months.  In the entire Houston MLS market area, Sugar Land had a higher percent of pending sales than any other market area in March.  As a result, Sugar Land has experienced a 20.74% decline in single-family home sales over First Quarter 2007 with 298 home sales as compared to 376 home sales last year.

         Contracts written in Sugar Land in First Quarter 2008 are 246 units pending to close, which is 10 fewer units than last year.   

         Sugar Lands average sales price is up by 7.57% over First Quarter 2007 and now stands at $259,704 as compared to last years $241,429. 

         Sugar Land homes on the market are up by 25.73% with 606 homes on the market as compared to last years 482.  However, if current demand continues as expected, this increase in inventory could very rapidly be absorbed.

         There are 4.1 months of inventory in

• Move your cursor down until you come to the area[s] of interest.

Atascocita Area 1 

• Single-family home sales in the Atascocita area have declined 10% over February YTD 2007. The market has experienced 304 home sales since the beginning of the year and last year there were 338 units sold during the same time frame.
• Contracts initiated this year are .30% less than those found a year ago. There were 327 units that went under contract in February and last February there were 328. 
• Listings are up by 9.32% and there are currently 1,384 units on the market as compared to 1,266 last year.
• Median sales price YTD has declined 5.43% and currently stands at $139,120 and last year the average sales price was $147,110.  Median sales price is where half the homes sold above and half the homes sold below.
• The Atascocita area currently has 6.1 months of inventory. Months-of-inventory is an indicator of the status of the market. Currently, if no new listings came on the market, it would take 6.1 months to deplete the current supply. A market with 6 months or less of inventory is a sellers market. Atascocita is in a balanced market where neither the seller nor buyer has a greater advantage.
• In February 2008, the Atascocita area was #8 on the Houston Hotness Index because 12.5% of its entire inventory went under contract during that one month. Current market data indicates the market has strong buyer demand and will be a healthy market for buyers and sellers alike.

Bear Creek Area 8

• Single-family home sales have experienced a 29.49% decline this year in the Bear Creek Market area over February YTD 2007 with 275 MLS recorded home sales!
• Listings are up in the Bear Creek Market area by 2.94% over this time last year with 1,050 homes listed and on the market.
• Contracts pending are down by 98 units or 29.52% with 234 homes receiving contracts. February YTD 2007 contracts written registered at 332.
• Average sales price is slightly above last years average sales price and currently stands at $162,703, a 1.07% increase.
• Last year, average sales price was $160,980. Median is $143,850, a .59% increase over last year.
• Market area currently has 5 months of inventory, which is still a sellers market.
• In February 2008, 10.9% of all listings in the Bear Creek area received a contract during the month, earning Bear Creek a ranking of #22 on the Houston Hotness Index. 

 Clear Lake Area 7 

• Clear Lake was ranked #2 on the February Houston Hotness Index because 14.8% of its listings went under contract during that one month.
• Clear Lake single-family home sales have declined by 48 units over February YTD 2007 with 221 homes sold in 2008 as compared to 269 last year.
• Contracts written and pending to close year-to-date are 9.01% for a total of 202 MLS recorded pending sales. Last year, there were 222 contracts pending in February.
• Homes listed and on the market in Clear Lake are 10 units greater than those found this time last year with 737 single-family homes on the market today.
• Clear Lakes Average sales price is up by 3.48% and currently stands at $177,909, as compared to $171,929 last year during the same time frame.
• Days on the market register at 82, which represents a 1-day decline from Days on the Market last year during the same time frame.

The Heights Area 9

• The Heights single-family home sales have declined by 31 units over February YTD 2007 with 256 homes sold in 2008 as compared to 287 last year.
• Contracts written and pending to close year-to-date are 56 units below last year for a total of 200 MLS recorded pending sales.
• Homes listed and on the market in The Heights are up by 9.65% from this time last year with 1,330 single-family homes on the market today as compared to 1,213 last year.
•  The Heights Average sales price is up by 17.45% and currently stands at $254,424, as compared to $216,629 last year during the same time frame. Median price, where half the homes sold above and half the homes sold below the median price is up 19.69% and it is currently $231,000.
• Days on the market register at 90, which is 9 days more on average than it took to sell a home last year.
• The Heights was ranked #30 on the February Houston Hotness Index because 8.8% of all listings went under contract during that one month!

North Area 12

•  Sales in the North Market area in February YTD 2007 have declined by 23 units or 7.69% in comparison to 2007. The area recorded 276 closed single-family home sales and in 2007 experienced 299.
• Listings are up by 6.39% in the North Market area over this time last year with 1,116 homes listed, which are 67 more than last year.
• Contracts pending are down slightly by 1 unit or by .35% with 284 homes receiving contracts in February YTD 2008. Contracts pending in February YTD of last year registered at 285 units.
• Average sales price is down 7.38% in comparison to last years average sales price and currently stands at $109,605. Last year, average sales price was $118,336. The median, where half the homes sell above the median price and half below is down 7.09% and it currently stands at $104,900.
• The North Market area currently has 6.7 months of inventory. This puts the area into a balanced market where neither the buyer nor seller has a greater advantage.
• A home seller in the North Market can expect to sell a comparably priced home for an average of 96% of the list price. The average price per square foot in the North area is $56.

Champions / Spring Area 13

•  Sales have declined in the Champions / Spring Market area over YTD February 2007 by 5.38% with 369 MLS recorded home sales!
• Listings are up in the Champions / Spring Market area by 5.76% over this time last year with 1,635 homes listed and on the market.
• Contracts pending are down by 6.19% with 379 homes receiving contracts YTD through February 2008. Contracts in February last year registered at 404.
• Average sales price is higher by 5.33% than last years average sales price and currently stands at $177,318. Last year, average sales price was $168,345.
• The Champions Market area currently has 6.5 months of inventory.
• In February 2008, 11.2% of all listings in the Champions area received a contract during the month, according to the Houston Hotness Index! 

Far Northwest 14

•  Sales are UP in the Far Northwest area over February YTD 2007 by 5 units or 2.04% with 250 MLS recorded home sales.
• Listings are up in the Far Northwest Market area by 17.3% over this time last year with 1,037 homes listed and on the market.
• Contracts pending are down slightly by 2.81% with 242 homes receiving contracts YTD through February 2008. Contracts pending February YTD last year registered at 249.
• Average sales price is lower than last years average sales price and currently stands at $211,913 representing an increase over last year of 16.34%. Last year, average sales price was $182,152. The median price, where half the homes sold above and half sold below the price is $154,550, which is a 6.26% increase over last year.
• The area currently has 5.9 months of inventory, which places the market still in sellers territory, but leaning toward a balanced market.
•  In February 2008, 13% of all listings in the area received a contract during the month, ranking the area #4 on the Houston Hotness Index. 

Conroe Montgomery County NW Area 39

•  Sales are down by 39 units in NW Montgomery County from this time last year over February 2007 with 149 homes sales recorded in MLS as compared to 188 last year.
• Contracts written year-to-date are down 25.49% with 114 recorded pending contracts year-to-date as opposed to 153 last year.
•  Listings are down over this time last year by 2.06%. There are currently 951 homes on the market in the area.
•  Average sales price is up over last year [30.38%] and currently stands at $267,091.
• The area has 8 months of inventory as compared to 7.3 last year, which is an expansion in home supply. The average price per square foot is $102 and days to sell a home are 107, which is up from last years 99.
• The Houston Hotness Index indicates that the Conroe area sold 5.5% of its supply in the month of February.

• Sales are down in the East by 40 units or 11.63% more than February 2007 with 304 homes sales recorded in MLS as compared to 344 last year.       
• Contracts written year-to-date are down by 26 units or 301 MLS recorded pending contracts in February 2007 as opposed to 327 last year.       
•  Listings are up over this time last year by 309 units or 24.16%. There are currently 1,588 homes on the market in the area.       
•  Average sales price is down over last year [-7.38%] and currently stands at $93,417.        The area has 7.9 months of inventory as compared to 6.2 last year. The average price per square foot is $54 and days on market to sell a home are 91, which is up from last years 79 days on the market. 

Fort Bend Sugar Land Z 29

• Sugar Land has experienced a 22.37% decline in single-family home sales over February 2007 with 177 home sales as compared to 228 home sales last year. 
• Contracts written in Sugar Land are down by 13 units over February 2007 with 146 units pending to close. 
• Sugar Lands average sales price is up by 10.78% over February 2007 and now stands at $252,198 as compared to last years $227,656.
• The median sales price, where half the homes sold above and half sold below, is $203,000 and the median is up over this time last year by 6.84%.
• Sugar Land homes on the market are up by 29.03% with 600 homes on the market as compared to last years 465.   
• There are 3.9 months of inventory in Sugar Land and that translates into a very healthy sellers market. It takes 70 days on average to sell a home in Sugar Land whereas last year, it took 55. 
• Sugar Land area [Z29] ranked Number 9 on the Houston Hotness Index in February 2008, with 12.5% of its listings receiving a contract during the month.
• Expect the market to continue to heat up through the spring and for Sugar Land to rise on the Houston Hotness Index. 

Fort Bend Missouri City Z 38

• Missouri City has experienced a decline in home sales over February YTD 2007 with 277 unit sales as compared to 300 home sales last year.
• Contracts written in Missouri City are down by 20 units with 262 recorded units pending to close. 
• Missouri Citys average sales price is down by 1.85% over year-to-date February 2007 and now stands at $166,555 as compared to last years $163,534.
• The median sales price, where half the homes sold for less and half the homes sold for more than the median is $129,500 and that is down from this time last year by 3.36%.
• Missouri City homes on the market are down by 1.89% with 1,041 listings as compared to last years 1,061.
• There are 6 months of inventory in Missouri City. 
• It takes 106 days on average to sell a home in Missouri City whereas last year, it took 90.
• According to the February Houston Hotness Index, the Missouri City area [Z38] had 12.7 % of its listings receive contracts during the month, making a hotness index ranking in Houston of #6.
• Missouri City has recorded healthy sales despite the onslaught of inventory emerging at the beginning of last year. This has held sales prices down and may continue to do so until there is more absorption of current homes on the market. Precision pricing and a constant watch on the market with an eye towards its inventory is the best advice for sellers and their agents in Missouri City.  

Fort Bend West Area 37

• Single family home sales in the West Fort Bend area are down by 16.79% over February YTD 2007, with 228 recorded home sales YTD.
• Contracts initiated February YTD 2008 are 11 units below last years contracts initiated with 232 pending sales February YTD.
• Listings are up by 20.23% in the Fort Bend West area with 1,147 listings currently on the market in comparison to 954 last year.
• Average sales price for the Fort Bend West area has increased by 3.93% over February YTD 2007 and is currently $174,938.
• The median sales price, where half the homes sold for less and half the homes sold above, is $154,900, or 2.92% lower than last year.
• The Fort Bend West area currently has 6.4 Months of Inventory, meaning if no other listings were taken, it would take 6.4 months to deplete the current supply of homes. Last year, there were 5.1 months of inventory.
• According to the MLS Houston Hotness Index for February, Fort Bend West had 10.5% of its inventory receive a contract during the month. This hotness earned the area a ranking of 23rd on the Houston Hotness Index out of 44 areas listed. The list price/sales price ratio of homes in the area is 95% [meaning that on average, a seller could expect a reasonably priced home to sell for 95% of the list price]. Average price per square foot in the area is $70.

Fort Bend Southwest Area 37

• Single family home sales in the Southwest Fort Bend area are down by 21.35% over February YTD 2007, with 151 recorded home sales YTD.
• Contracts initiated YTD 2008 are down by 16.76%, or 154 total units. Contracts written year-to-date are the best indicator of current buyer demand.
• Listings are up by 17.77% in the Fort Bend Southwest area with 696 listings currently on the market in comparison to 591 last year.
• Average sales price for the Fort Bend Southwest area is down by 4.80% over February YTD 2007 and is currently $201,022. The median sales price [where half the homes sold above and half the homes sold below] was $170,000, a 5.82% increase over last year.
• The Fort Bend Southwest area currently has 6.4 Months of Inventory, meaning if no other listings were taken, and current demand remains the same, it would take 6.4 months to deplete the current supply of homes.
• According to the MLS Houston Hotness Index for February, Fort Bend Southwest had 12% of all inventory go under contract during the month, earning a ranking of #12 out of 44 on the Hotness Index... 
• The list price/sales price ratio of homes in the area is 96% [meaning a seller could expect a comparably priced home to sell for 96% of the list price]. Average price per square foot in the area is $77.

Katy / Cinco Ranch Area 36

• The Katy area ranked #1 on the Houston Hotness Index because 15.1% of all of its listings went under contract in February 2008. This makes Katy the hottest market in Houston and one where sellers are definitely in the drivers seat!
• Single family home sales are down slightly in Katy by 2 units sold over February 2007 with 327 home sales or a decline of .61%.
• Contracts written in the Katy / Cinco Ranch area year-to-date are up by 9.97% with 271 units reporting a pending sale.
• Listings in the Katy / Cinco Ranch area are down by 33.14% with 908 listings currently on the market as compared to 682 listings this time last year.
• Katys average sales price is $238,991 which is up by 4.05% over last years average sales price $229,685.
• The median sales price for Katy, where half the homes sold below and half sold above the median is $207,010 and that is 3.56% higher than last year.
• The Katy / Cinco Ranch area has 3.8 months of inventory which is a sellers market and last year, but not as much as last year, which had 2.8 months of inventory. It takes an average of 71 days to sell a home in Katy and that is up slightly from last years 68 days.

Far West Katy

Area 25 

• Single family home sales in the Far West area are down by 20.7% over February YTD 2007, with 341 recorded home sales YTD.
• Contracts initiated YTD 2008 is also down by 3.12%, or 373 total units.
• Listings are up by 18.05% with 1,537 listings currently on the market in comparison to 1,302 last year.
• Average sales price for the Far West area is down by .77% over February YTD 2007 and is currently $137,853. The median sales price [where half the homes sold above and half the homes sold below] was $122,900, a 3.98% decline over last year.
• The Far West area currently has 5.7 Months of Inventory, meaning if no other listings were taken, it would take 5.7 months to deplete the current supply of homes.
• According to the MLS Houston Hotness Index for February, Far West had 13.4% of all inventory go under contract during the month, earning a ranking of #3 out of 44 on the Hotness Index... 
• The list price/sales price ratio of homes in the area is 97% [meaning a seller could expect a reasonably priced home to sell for 97% of the list price]. Average price per square foot in the area is $63. Days on the market have increased from 2007 to the present from 95 days to 77 days.

Galveston County Area 33

• Single-family home sales in Galveston County were down 14.74% in February 2008 over the previous February with 509 home sales recorded in the Houston MLS year to date. There were 597 closed last year during the same time frame.
• Pending contracts recorded in February 2008 were down by 13.87% compared to last year. Pending units recorded year-to-date currently stand at 410 whereas last year, pending units were at 476.
• Galveston Homes on the Market reached 2,659 in February 2008 and are up by 4.27% over last year.
• Galveston Countys average sales price is $178,528 and that figure is up by 5.27% over last year. The median sales price for Galveston County, where half the homes sold above and half sold below is $148,750, a 6.41% decrease over this time last year.
• Galveston County currently has 7.8 months of inventory. Days on the market to sell a home in Galveston County is currently at 97 days and is 6.59% more than last years 91 DOM.
• Listings should be precision priced at its current 94% sale price/list price ratio or higher. 

Hempstead East Area 10 

• Single-family home sales are down by 28 units in the East Hempstead area over February YTD 2007 with 250 home sales recorded in MLS year to date. There were 278 single-family home sales last year during the same time frame.
• Pending contracts displayed a decrease over February 2007 of 17.79%. Pending units recorded year-to-date currently stand at 181 whereas last year, pending units were at 220.
• Hempstead East Homes on the Market are up by 15.57% over last year. There are currently 980 homes on the market as compared to 848 last year.
• The average sales price is $185,709 and that figure is 9.2% higher than last years $170,062. The median is $162,000 and that is UP by 2.81% over this time last year.
• The area is a sellers market with 5.4 months of inventory. Days on the market to sell a home in the Hempstead East area are currently 92, and last year, it was 76.
• In February 2008, the Hempstead East area was ranked #29 on the Houston Hotness Index because 9 % of all listings went under contract during the month.

Kingwood - Area 32

• Single-family home sales are down in Kingwood over February 2007 by 12 units or 8.51% with 129 home sales recorded in MLS year to date compared to 141 closed last year during the same time frame.
• Pending contracts also displayed a decline over February 2007 by experiencing a 13.77% decline in February 2008. Pending units recorded year-to-date currently stand at 119 whereas last year, pending units were at 138.
•  Kingwood Homes on the Market are up by 25% over last year. There are currently 500 homes on the market in Kingwood as compared to 400 last year.
• Kingwood average sales price is $222,021 and that figure is up by 18.64% over last year. The median sales price [where half the homes sold above the median and half sold below] is up 3.31% and currently stands at $163,330.
• Kingwood represents a sellers market with 4.9 months of inventory. Last year, Months of inventory were 3.8. Days on the market to sell a home in Kingwood are currently at 95 days, which is 8 days more than last year.
• In February 2008, Kingwood was #17 on the Houston Hotness Index because it experienced 11.5% of its listings go under contract during that one month.

Southwest Inner Loop Z 17

• Single-family home sales have declined in the Inner Loop from YTD February 2007 by 25 units or 18.80% with 108 homes sales recorded in Houston MLS February 2008.
• Pending contracts, which represent buyer demand year-to-date, currently stand at 69 pending sales and last year, it experienced 90 pending contracts. This represents a decline of 21 units or 23.33%.
• Listings have declined from this time last year by 23% and the current inventory stands at 492 homes on the market.
• Average sales price has risen by 31.2% since this time last year and average sales price is currently $751,503. The median, where half the homes sold above the median and half sold below is up by 31.79% and was $626,000.
• The average price per square foot in the SW Inner Loop is $236 and last year the average was $204.
• Homes listed in the SW Inner Loop can expect to net 97% of the list price on average and sell on average after 89 days on the market.  

Spring Branch Area 24

• Single-family home sales are down in the Spring Branch area by 14.95%. There were 91 home sales February YTD 2008 and during the same time frame last year, there were 107.
• Contracts initiated during February YTD 2008 shows a 17.28% decline over last year during the same time frame. There were 81 contracts initiated last year and 67 this year.
• There are currently 345 active listings whereas last year, there were 336, representing an increase in homes on the market of 2.68%.
• The average sales price is up over February last year by 14.13%. The current average sales price is $236,061 and last year it was $206,829.
• There are currently 4.8 months of inventory in the Spring Branch area, meaning that, given the current demand, if no new listings came available on the market, it would take 4.8 months to deplete the current supply. Spring Branch is still a sellers market.
• A home priced comparably in the market can expect to sell for an average of 97% of the list price. Homes sold year-to-date have sold for an average of $108 per square foot.
• The Spring Branch area ranked 24^th on the Houston Hotness Index for the month of February because 9.9% of all listings went under contract during that one month.

Tomball Area 35

• Single-family home sales have declined in Tomball from February 2007 by 7 units or 3.65% with 185 homes sales recorded in Houston MLS February 2008.
• Pending contracts, which represent buyer demand year-to-date, has experienced a decline of 6 units. Pending contracts currently stand at 170 pending sales and last year, it experienced 176 pending contracts. This represents a slight decline of 3.41%.
• Listings have risen from this time last year by 17.6% and the current inventory stands at 735 homes on the market.
• Average sales price has increased by 1.96 % since this time last year and is currently $200,199. The median, where half the homes sell for more and half sell for less than the median, has also increased by .77% or $163,750.
• The average price per square foot in the Tomball area is $74 and last year the average was $77.
• Homes listed in the Tomball area can expect to net 95% of the list price on average and sell on average after 96 days on the market.

West Center Inner Loop Area 16

• Sales have increased in the West Center Inner Loop from February YTD 2007 over February YTD 2008 by 17.17% and currently 116 homes have been sold.
• Contracts written are UP by 12.16% from this time last year with 83 homes receiving contracts year-to-date.
• Listings in the West Center Inner Loop currently stand at 515 units and that figure is up by 59 units from February 2007, or 12.94%.
• Average sales price is up by 9.06% from this time last year and is currently $608,562. Conversely, median sales price, where half the homes sold above and half sold below the price, is up by 11.22% and currently stands at $383,500.
• Homes in the West Center Inner Loop sell on the average of $214 a sq. ft and last year that figure was $215. Homes that sell in the area can expect to render an average of 96% of the selling price and take approximately 118 days to sell.
• There are 7.3 months of inventory in the area, which is an improvement over last years 6.1 months of inventory

The Woodlands and surrounding markets in Area 15

• Single-family home sales in The Woodlands are down by 39 units from this time last year or 7.33% with 493 home sales recorded.
• Contracts written, a better indicator of current demand, show 410 pending sales have been written year-to-date. That is a 21-unit decrease over that which was written in February 2007.
•  Listings in The Woodlands are up by 8.76% with 1,589 homes on the market registered in February 2008 as compared to 1,461 in February 2007.
• Average sales price in The Woodlands is $260,529, which is 1.01% less than February 2007, which averaged $263,197. The median price is UP by .49% and the median for February 2008 was $190,000.
• The Woodlands has a 4.5-month supply of inventory, which indicates the area is a sellers market. Days on the market to sell a home has declined in The Woodlands from this ti