Houston Fort Bend Missouri City Real Estate Market Area 38 for May YTD 2008
>Houston Fort Bend Missouri City real estate market area ranked #2 on the Houston Hotness Index for May 2008 because 15.3% of all listings received a contract during that one month.
>The Houston Fort Bend Missouri City real estate market area has experienced 62 fewer home sales or a 7.33% decline in May YTD 2008 in comparison to 2007 with 784 home sales recorded in the Houston Association of Realtors Multiple Listing Service.
>Contracts written in Fort Bend Missouri City market area are only down by 16 units in comparison to May YTD 2007 and now records 734 units [a 2.13% decline] YTD that have been recorded in HAR-MLS as pending to close.
>The market area's average sales price increased 1.01% over year-to-date May 2007 and now stands at $174,335 as compared to last years $172,599. The median sales price where half the homes sold above and half below the median is $134,000 or down by 2.65%.
>The market area's homes on the market are down by 9.47% or 108 units, which is unusual because most areas are experiencing growing inventory. There are currently 1,033 homes on the market as compared to last years 1,141.
>Houston Fort Bend Missouri City market area's second place ranking on the Houston Hotness Index in May is indicative of the market strength of the area. With fewer homes on the market than last year and the absorption rate continuing at a high pace for two months in a row, the market area is poised to be just as hot as the temperature throughout the summer months.
