Gary Greene's Real Estate Blog
Houston East Real Estate Market Area 2 for May YTD 2008
Posted on June 11, 2008
>Sales are down in the Houston East Wood Forest real estate market area by 11.72% in May YTD 2008 with 911 homes sales recorded in MLS as compared to 1,032 sales last year.
>Contracts written year-to-date are down by 7.72% or a total of 813 units recorded in the HAR-MLS as pending contracts in May YTD 2008 in comparison to 881 last year.
>Listings are up over this time last year by 185 units or 13.57%. There are currently 1,548 homes on the market in the area.
>Average sales price is down over last year by 8.34% and currently stands at $91,355. The median, where half the homes sold above and half sold below the median sales price is $85,000 or 10.53% lower than this time last year.
>The area has 7.7 months of inventory, placing the market into a balanced position, where neither the seller nor buyer has a distinct negotiating advantage. The average price per square foot is $54 and days on market to sell a home are 90, which is up from last years 72.
For more information on this or any other area, please go to www.GaryGreene.com. Data compiled by the Houston Association of Realtors Mulitple Listing Service and written by Toni Nelson, Director of Strategic Initiatives for Prudential Gary Greene, Realtors.
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