May experiences a 1% increase in home sales

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May sales hovered only 1% above 2017 – yet a more stellar metric is contracts written. 12% more contracts written [a.k.a. pending sales*]  were reported in May than occurred last May.  This indicates that sales will continue to be healthy at least through June.

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

As the table above depicts, listings are up 2% for May in comparison to last May, however, listings are down 2% YTD.  The average sales price and median sales price are slowly increasing and may continue to increase if the number of active listings continues to decline in high demand price ranges  The highest demand prices ranges can be viewed below.

Top Selling Home Sales by Price Class for 2018 YTD

  1. $150,000-$199,999 – 6,799 sales YTD – 1.7 Months of Inventory
  2. $200,000-$249,999  – 5,784 sales YTD –  3
  3. $300,000-$399,999  – 5,004 sales YTD –  5.7
  4. $250,000 – $299,999 – 4,154 sales YTD – 4.5
  5. $100,000 – $149,999 – 3,217 sales YTD –1.4

All of the above price classes, except $300,00-$399,999, are in a strong sellers’ market [they’re hot] having  4.5 months or less inventory.  The $300,000-$399,999 price range is still in a sellers’ market with 5.7 months of inventory. As you can see, the highest demand price classes above are in very short supply – and further pressure [higher demand and fewer listings] can cause serious home price appreciation in the affected categories.

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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April brings 7% increase in home sales

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Houston single-family home sales in April closed 7% ahead of 2017. And even better news – contracts written, and on schedule to close increased 15% in April. This indicates that sales will continue to be brisk, at least through May.  Inventory [# of active listings] is the only metric lagging behind.  The lack of inventory, particularly in high demand price ranges, could prevent an increase in sales as we enter the summer.  Stay tuned and we’ll keep you posted.

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.

Average sales price and median sales price are slowly increasing due to this inventory shortage and may continue to increase if the number of active listings continues to decline.

Top Selling Home Sales by Price Class for 2018 YTD

Below are the highest number of sales by price range seen year to date:

  1. $150,000-$199,999 – 5,092 sales YTD
  2. $200,000-$249,999  – 4,300
  3. $300,000-$399,999  – 3,663
  4. $250,000 – $299,999 –3,064
  5. $100,000 – $149,999 – 2,508

All of the above price classes, except $300,00-$399,999, are in a strong sellers’ market having  4 months or less inventory.  The $300,000-$399,999 price range is in a sellers’ market but not as strong of a sellers’ market with 5.2 months of inventory.

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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April YTD Single-Family Sales Performance by Area in Houston MLS

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Every area of Houston real estate is different.  Some areas consistently outperform the Houston overall market, some perform similarly and some don’t perform as well.  Check out your area and see how it compares to the Houston overall market.

Below is a snapshot of a few areas.  For a complete report on most areas, click here.

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February Single-Family Homes Sales UP 5%

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Houston single-family home sales in February closed 5% ahead of February 2017.  The increase in sales brought year-to-date sales to 7%.  Houston single-family home sales YTD are giving validity to many economists’ predictions that 2018 would be the best year yet in Houston residential sales.  Stayed tuned and we’ll keep you posted!

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.

What we’re seeing in the first two months of the year is an increase in buyer demand in both closed sales and pending contracts.  There is also a cooling of average sales price and a flattening of inventory.  For housing affordability sake, a cooling of average sales price is a good thing yet, it can’t stay flat for long if listings don’t increase.

 

Houston Home Sales by Price Class for 2018

What price ranges had the most amount of increased sales in Houston in February? The following price classes experienced the largest increase in sales over February 2016:

  1. $750,000-$999,999     up 24%
  2. $500,000-$749,999     up 17%
  3. $70,000-$99,999         up 14%
  4. $200,000 – $249,999   up 14%
  5. $300,000 – $399,999   up 11%

Keep in mind that homes priced below $500,000 are in a sellers’ market with at least less than 5.6 months of inventory.  Example:  Homes priced below $100,000 have less than 2 months of inventory.  Homes priced above $500,000 are in a buyers’ market with 6.8 months of inventory or more.  Months of Inventory is a statistic used to express how long it will take to deplete the inventory if no new homes come on the market.

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

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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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Houston MLS Top Ten Company Ranking Report May 8, 2018

We are pleased to present the Top Ten Company Ranking Report by category according to the Houston Association of Realtors Multiple Listing Service – a.k.a.  HARIS – Information Services. We’re not afraid to tell you how we rank or how proud we are to be Houston resident’s first choice in real estate services:

Click here for a pdf.

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First Quarter 2018 Single-Family Home Sales UP 3%

Houston single-family home sales First Quarter 2018 closed 3% ahead of 2017.    After 2 solid months of sales increases, March 2018 sold 2% fewer units than 2017, however the number of homes that went under contract in March [pending sales] increased 9%!  March languished in closings but  was red hot on contracts written.  This is a great boost for April sales which most likely will put 2018 YTD equal to or slightly better than 2017 YTD.  Stay tuned and we’ll keep you posted.


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

Take note that the decline in inventory [-2%] mirrors the decline in sales.  Average sales price and median sales price are slowly increasing due to this inventory shortage and may continue to increase if the number of active listings continues to decline.

Houston Home Sales by Price Class for 2018

What price ranges had the most amount of increased sales in Houston in the First Quarter? The following price classes experienced the largest increase in sales in First Quarter 2018:

  1. $200,000 – $249,999 – up 14%
  2. $250,000 – $299,999  – up 11%
  3. $750,000 – $999,999  – up 10%
  4. $400,000 – $499,999 –up  6%
  5. $500,000 – $749,999 – up  6%

Keep in mind that homes priced below $400,000 are in a sellers’ market with 4.9 months of inventory or less.  Example:  Homes priced below $200,000 have less than 2 months of inventory.  Homes priced above $400,000-$499,999 are in a normal market with 6 months of inventory.  Homes priced $500,000 or more are in a buyers market.  Months of Inventory is a statistic used to express how long it will take to deplete the inventory if no new homes come on the market.

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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