Gary Greene's Real Estate Blog

Northeast Houston - Kingwood - November YTD 2007

Posted on December 13, 2007

§         In November YTD 2007, Kingwood was #12 on the Houston Hotness Index because 11.3% of all listings went under contract during that one month.

§         Single-family home sales are down in Kingwood over November 2006 by 58 units or 4.57% with 1,212 home sales recorded in MLS year to date compared to 1,270 closed last year during the same time frame.  Although sales have not been as stellar as 2006, in 2005, a great year in real estate, Kingwood closed 1,170 sales YTD November 2005.  These sales represent 42 fewer units than sold this year, or 3.5% less, making 2007 a better year for sales in Kingwood than 2005.

§         Pending contracts displayed a decline over November YTD 2006 by .81%. Pending units recorded year-to-date currently stand at 859 whereas last year, pending units were at 859.

§         Kingwood Homes on the Market are up by 7.94% over last year.  There are currently 476 homes on the market in Kingwood as compared to 441 last year.

§         Kingwood average sales price is $209,697 and that figure is up by 2.11% over last year.  In 2005, the average sales price for Kingwood was $190,648.  Over the last two years, Kingwood home owners have enjoyed a 10% increase in average sales price, which is a good appreciation in home values.  The median sales price is $173,500 and that figure is also up by 3.58% over November YTD 2006.

§         Kingwood represents a seller’s market with 4.2 months of inventory. Days on the market to sell a home in Kingwood are currently at 64 days, and last year, it was 65.
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®.

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