• Single-family home sales in the West Memorial area have declined by 13.15% in November YTD 2007 over November YTD 2006 and currently register 654 units sold.
• Contracts written are down from this time last year by 15.87% and there are currently 265 units recorded pending YTD as opposed to 315 last year. 
• Listings are down by 13.6% from this time last year with 235 homes on the market.
• Average sales price YTD in the West Memorial area is $803,758 and that is 19.9% more than November 2006 YTD average sales price of $670,000.  In the last two years, the average sales price for a home sold in West Memorial has gone up 30%!  Not only is this a phenomenal increase, it is one of the highest increases in Houston!  The median sales price, where half the homes above and half sold for less, is $539,000 and that is up from 2006 by 28.33%.
• Homes in the West Memorial area sell at an average sales price of $217 a sq. ft.  A seller can expect to sell his home for an average of 96% of the list price and take an average of 61 days on the market to sell.  Months of Inventory currently stand at 3.8, representing a seller’s market.
• West Memorial registered #24 on the Houston Hotness Index in November because 9.1% of all current inventories went under contract during that one month.

 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®.