Gary Greene's Real Estate Blog

Houston Fort Bend Southwest Real Estate Market Area 30 for May YTD 2008

Posted on June 11, 2008

>Single family home sales in the Southwest Fort Bend area of Greater Houston are down by 8.31% over May YTD 2007, with 496 recorded home sales YTD.

>Contracts initiated May YTD 2008 are also down by 16.08%, or 407 total units.

>Listings are up by 10.97% in the Fort Bend Southwest area with 708 listings currently on the market in comparison to 638 last year.

>Average sales price for the Fort Bend Southwest area is up by 8.13% over May YTD 2007 and is currently $209,214.

>The Houston Fort Bend Southwest real estate market area currently has 6.4 Months of Inventory, meaning if no other listings were taken, it would take 6.4 months to deplete the current supply of homes.

>According to the MLS Houston Hotness Index for April, Houston Fort Bend Southwest real estate market area had 11.5% of all inventory go under contract during the month of May.  The area ranked #17 out of 45 Houston areas ranked on the Houston Hotness Index for the month.

The list price/sales price ratio of homes in the area is 96% [meaning a seller could expect a reasonably priced home to sell for 96% of the list price].  Average price per square foot in the area is $80.
 
Data compiled by the Houston Association of Realtors Multiple Listing Service and written by Toni Nelson, Director of Strategic Initiaitives for Prudential Gary Greene, Realtors.

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