• Missouri City has experienced 123 more home sales [an increase of 6.76%] in November YTD 2007 than it did in 2006 [comparing the same time frame] with 1,943 home sales recorded in the Houston Association of Realtors® Multiple Listing Service.
• Contracts written in Missouri City are up by 348 units in comparison to November YTD 2006 and now records 1,577 units YTD recorded as pending to close.  This represents an increase over last year of 26.19%
• Missouri City’s average sales price declined 2.55% over year-to-date November 2006 and now stands at $172,906 as compared to last year’s $177,426.  The median price $137,250, where half the homes sell for less and half sell for more than that price is also down from last year by 1.96%.
• Missouri City homes on the market are up by 22.22% with 1,166 homes on the market as compared to last year’s 954.
• There are 5.9 months of inventory in Missouri City as compared to last year’s 6.7.  It takes 88 days on average to sell a home in Missouri City whereas last year, it took 77.
• According to the November Houston Hotness Index, the Missouri City area [Z38] had 12.5% of all listings receive contracts during the month.  This earned Missouri City a 6th place ranking on the Houston Hotness Index, which ranks Houston’s Top 46 areas.
• Missouri City’s increase in inventory, despite its’ equally robust increase in buyer demand [contracts pending] is causing a drag on home price appreciation.  Homes that sell in this type of market will be precision priced and staged in “showcase condition”.  There is too much competition to position a home by any other standard. 

    Data compiled by the Houston Association of Realtors® Multiple Listing Service and written by Toni Nelson, Director of Strategic Initiatives for Prudential Gary Greene, Realtors®.