Gary Greene's Real Estate Blog

Houston Fort Bend West Real Estate Market Area 37 for May YTD 2008

Posted on June 11, 2008

>Single family home sales in the Houston West Fort Bend area are down by 14.35% over April YTD 2007, with 770 recorded home sales YTD.

>Contracts initiated May YTD 2008 are UP by 2 units or .30% in comparison to last years contracts initiated with 673 homes pended during this year-to-date and last.

>Listings are up by 12.21% in the Houston Fort Bend West area with 1,167 listings currently on the market in comparison to 1,040 last year.

>Average sales price for the Houston Fort Bend West area is up by 2.95% over May YTD 2007 and is currently $178,969.  The median price is down slightly from last year by 2.15% or $150,500.

>The Houston Fort Bend West area currently has 6.9 Months of Inventory, meaning if no other listings were taken, and buyer demand remained the same, it would take 6.9 months to deplete the current supply of homes. 

>According to the Houston Hotness Index for May 2008, the Houston Fort Bend West area had 12.7% of its inventory go under contract during the month.  The list price/sales price ratio of homes in the area is 96% [meaning that on average, 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 $72.
 
Data compiled by the Houston Association of Realtors and written by Toni Nelson, Director of Strategic Initiatives for Prudential Gary Greene, Realtors.

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