Houston: January Single-Family Home Sales Increase 9% over 2017

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Anyone concerned about the volatility of the stock market should consider investing in residential real estate in Houston, Texas!  The first month of the year started out with a 9% increase in sales and a 7% increase in dollar volume sold. The average sales price was down 2% from last year however median price is up 4%.

All metrics for residential real estate indicate a healthy start for 2018 as can be seen in the graph below.  Most economists with a pulse on Houston real estate believe that 2018 will be one of the best residential real estate years we’ve ever seen.

Here’s a glance at the trends for the month and year:

*Pending sales are homes that are under contract and have not closed and indicate current buyer demand.

Houston Home Sales by Price Cohort for 2018 

What price ranges have the largest increase in January home sales in Houston in comparison to last year? The following price cohorts experienced the largest increase compared to 2017:

Based on the entire spectrum of Houston price cohorts in the table above, homes priced $499,999 and below are in a sellers’ market.  Homes priced $500,000 and above are in a buyers’ market. You can see the difference in time on the market under “Months’ of Inventory”.  Months’ of Inventory is a figure indicating [at the current rate of sale and with no new homes coming on the market] – how long it would take a home to sell in a specific price range.  Generally, 6 months is a balanced market [neither buyer  nor seller has the market advantage], a sellers’ market is below 6 months and a buyers’ market is above 6 months.

The Houston overall market is so large; it rarely reflects the same trends as a submarket area located within its boundaries.  Some areas are exceeding Houston’s overall growth in sales while others are lagging behind.  For a breakdown of activity by area with a map, CLICK HERE.

To see the hottest selling geographical areas for the month in Houston, CLICK HERE.

To search for homes by price range and map, go to www.GaryGreene.com.

Data provided by the Houston Association of Realtors® Information Services™, and The Real Estate Center for Texas A&M and written by Toni Nelson, Director of Strategic Initiatives for Better Homes and Gardens Real Estate Gary Greene

 

 

 

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Houston YTD Single-Family Home Sales Increase 3% over 2016

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It’s unimaginable how a city devastated by Hurricane Harvey less than 5 months ago would  finish 2017 with sales exceeding the entire 2016 real estate market! Indeed, that’s exactly what happened.  Houston single-family home sales lost minimal sales velocity in the last quarter of the year and the 4% increase in sales experienced in December helped drive the YTD market to 3% over 2016.  There are no signs of slowing as pending sales rose 24% in December indicating January will remain healthy at least for closed sales.  All metrics for residential real estate indicate a healthy market as can be seen in the graph below.  Most economists with a pulse on Houston believe that the real estate market in 2018 will be the best we’ve ever seen.

*Pending sales are homes that are under contract and have not closed and indicate current buyer demand.

Houston Home Sales by Price Cohort for 2017

What price ranges have the largest increase in sales in Houston in comparison to last year? The following price cohorts experienced the largest increase compared to 2016:
Based on the entire spectrum of Houston price cohorts in the table above, homes priced $499,999 and below are in a sellers’ market.  Homes priced $500,000 and above are in a buyers’ market. You can see the difference in time on the market under “Months of Inventory”.  Months of Inventory is a figure indicating [at the current rate of sale and with no new homes coming on the market] – how long it would take a home to sell in a specific price range.  Generally, 6 months is a balanced market [neither buyer or seller has the market advantage], a sellers’ market is below 6 months and a buyers’ market is above 6 months.

The Houston overall market is so large; it rarely reflects the same trends as a submarket area located within its boundaries.  Some areas are exceeding Houston’s overall growth in sales while others are lagging behind.  For a breakdown of activity by area with a map, CLICK HERE.

To see the hottest selling geographical areas for the month in Houston, CLICK HERE.

To search for homes by price range and map, CLICK HERE.

Data provided by the Houston Association of Realtors® Information Services™, and The Real Estate Center for Texas A&M and written by Toni Nelson, Director of Strategic Initiatives for Better Homes and Gardens Real Estate Gary Greene

 

 

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2017 Top Ten Broker Rankings for the Year

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2017 saw Better Homes and Gardens Real Estate Gary Greene keep its Number One ranking in all major sales categories in the Greater Houston area! we want to help you find your next home in 2018 and years to come and thank you for your continued trust! Check out the latest stats from the Houston Association of Realtors and download this graphic here

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Better Homes and Gardens Real Estate Gary Greene Announces Rebuild Day in Independence Heights Partnering with Rebuilding Together Houston

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Houston Single-Family Home Sales Increase 7%

Houston single-family home sales lost minimal sales velocity from October [8% increase] to November. The 7% increase kept sales up 3% for the year. Pending sales rose 18% in November indicating December will close out the year better than 2016!  All metrics for residential real estate indicate a healthy market as can be seen in the graph below.

*Pending sales are homes that are under contract and have not closed and indicate current buyer demand.

What price ranges have the largest increase in sales in Houston in comparison to last year? The following price cohorts experienced the largest increase compared to 2016:

Based on the entire spectrum of Houston price cohorts in the table above, homes priced $399,999 and below are in a sellers’ market.  Homes priced $400,000 and above are in a buyers’ market. You can see the difference in time on the market under “Months of Inventory”.  Months of Inventory is a figure indicating [at the current rate of sale and with no new homes coming on the market] – how long it would take a home to sell in a specific price range.  Generally, 6 months is a balanced market [neither buyer or seller has the market advantage], a sellers’ market is below 6 months and a buyers’ market is above 6 months.

The Houston overall market is so large; it rarely reflects the same trends as a submarket area located within its boundaries.  Some areas are exceeding Houston’s overall growth in sales while others are lagging behind.  For a breakdown of activity by area with a map, CLICK HERE.

To see the hottest selling geographical areas for the month in Houston, CLICK HERE.

To search for homes by price range and map, go to www.GaryGreene.com.

Data provided by the Houston Association of Realtors® Information Services™, and The Real Estate Center for Texas A&M and written by Toni Nelson, Director of Strategic Initiatives for Better Homes and Gardens Real Estate Gary Greene
Short URL: http://tinyurl.com/yb64jdzx