Brazoria / Pearland Area 5

•  Single-family home sales have declined only slightly by 1.57% in the Brazoria / Pearland Market area over 2006 with 3,326 MLS recorded home sales.
• Listings are UP in the Brazoria / Pearland Market area by 9.06% over this time last year with 1,662 homes listed and on the market.
• Contracts pending are up by 72 units with 2,533 homes receiving contracts. In 2006 contracts written registered at 2,461.
• Average sales price is up ever so slightly over last years’ average sales price and currently stands at $181,066, an increase of 1.34%. Last year, average sales price was $178,669. The median, where half the homes sold above and half sold below is $166,710 and that is .73% more than the median last year.
• In December 2007, 10.8% of all listings in the Brazoria / Pearland area received a contract during the month, earning Brazoria / Pearland a ranking of #13 out of 46 listed on the Houston Hotness Index. 
• The Brazoria / Pearland Market area currently has 5.7 months of inventory and last year the area had 5.2 months of inventory. This statistic refers to the absorption rate of supply. How long would it take to sell the current inventory at the present rate of demand, if no other listings came on the market?  Economists consider anything less than 9 months of inventory a sellers’ market, however Realtors® often feel this is far too optimistic.