Gary Greene's Real Estate Blog

Houston Far Northwest Area Market - November YTD 2007

Posted on December 14, 2007

·        Sales have declined by 19 units in the Far Northwest area over November YTD 2006 or 1.02% with 1,842 MLS recorded home sales!

·        Listings are up in the Far Northwest Market area by 23.33% over this time last year with 1,015 homes listed and on the market.

·        Contracts pending are up by .07% with 1,410 homes receiving contracts YTD through November 2007.  Contracts pending November YTD last year registered at 1,409 units.

·        Average sales price is slightly higher than last years’ average sales price and currently stands at $196,628 representing an increase of 3.03% Last year; average sales price was $190,851.  The median sales price is $155,000 and is up by .65%.

·        The area currently has 6.4 months of inventory. Last year, the Far Northwest Market had 5.4 months of inventory, which is a considerable increase in supply.

·        In November 2007, 8.1% of all listings in the area received a contract during the month, ranking the area #29 out of 46 listed on the Houston Hotness Index! 
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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