• The Spring Branch area ranked 3rd on the Houston Hotness Index for the month of November because 13.4% of all listings went under contract during that one month.
• Single-family home sales are down in the Spring Branch area by 18.96%.  There were 782 home sales November YTD 2007 and during the same time frame last year, there were 965 units sold.
• Contracts initiated during November YTD 2007 showed similar trends with a 21.58% decline over last year during the same time frame. There were 458 contracts initiated this year and 584 contracts initiated last year.
• Spring Branch listings have declined by 10.49% from this time last year.  There are currently 367 active listings whereas last year, there were 410.
•  The average sales price is up over this time last year by 7.90%.  The current average sales price is $227,064 and last year it was $210,432.  In 2005, the average sales price in Spring Branch was $182,774, and current average sales prices are 24% above that level.  This metric demonstrates the appreciation home sellers have enjoyed in Spring Branch over the last two years!  The median sales price is up 3.33% and currently stands at $155,000.
• There are currently 4.6 months of inventory in the Spring Branch area, meaning that if no new listings came available on the market, it would take 4.6 months to sell the current supply.  This represents a market favorable to a seller.
• 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 $110 per square foot.

 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®.