2017 Mid-Year Single-Family Home Sales UP 7%

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Houston single-family home sales closed ahead of June 2016 by 8% and the increase in sales brought year-to-date sales up 7%. One might expect a cool-down after a hot first half of the year, however  the Houston Multiple Listing Service recorded a 19% increase in pending sales.  That large of an increase indicates the market won’t slow down in the near future.  As we have seen in previous years – the hotness of the market is contingent upon price ranges.  Some home price ranges are hot while others are lukewarm.  In reviewing the graph below, it’s very safe to say that homeowners in Houston are enjoying a healthy appreciation on their investment.   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.

Houston Home Sales by Price Class for 2017

What price ranges have the largest increase in sales in Houston in June? The following price classes experienced the largest increase compared to 2016:

 

 

 

 

 

 

Generally speaking, the first half of 2017 has experienced a really hot market in homes priced below $299,999.  Homes priced $300,000-$399,999 are in a balanced market and homes priced $400,000 and above are in a buyers’ 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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Top Ten Broker Rankings for the 2nd Quarter 2017

Better Homes and Gardens Real Estate Gary Greene continues on as the Number One Broker in Houston as the second quarter of 2017 comes to a close and we head into the Summer selling months! With over 500 more listings than the next brokerage, over $200 Million in more listings sold, a quarter of a BILLION dollars more volume sold, and nearly 2,500 more homes sold than our next competitor, we want to be your Real Estate company! Let us know if we can help you buy or sell a home…..

Download a PDF here.
Download a JPG graphic here.

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Top Real Estate Brokers for May 2017

The month of May saw Better Homes and Gardens Real Estate Gary Greene in the #1 spot again for number of listings, listings sold, number of home buyers closed and number of homes sold year-to-date, with over 1,000+ more homes sold in May than the number two brokerage. We appreciate your business and hope to keep earning your trust!

Click this link for a detailed pdf of the month’s results from the Houston Association of Realtors.

Click here for a jpg graphic.

Short URL: http://tinyurl.com/y7h6xh2e

April YTD Single-Family Home Sales Up 6%

Houston single-family home sales closed ahead of April 2016 by 3% and the increase in sales brought year-to-date sales up 6%. What is even more interesting is that the Houston MLS recorded a 15% increase in sales pending which indicates that May sales will remain in positive territory. April was not as robust of a sales month as March however, April did top March in terms of average sales price and an increase in inventory.  As we have seen in previous years – the hotness of the market is contingent upon price ranges.  Some home price ranges are hot while others are resting on simmer.  Also the current performance doesn’t necessarily guarantee future results but it certainly looks extremely healthy for the rest of the year!   Stayed tuned and we’ll keep you posted.

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

Houston Home Sales by Price Class for 2017

What price ranges have the largest increase in sales in Houston in April? The following price classes experienced the largest increase compared to 2016:

  1. $1,000,000 and over – up 24%
  2. $250,000-$299,999  –   up 19%
  3. $300,000-$399,999  –   up 18%
  4. $400,000 – $499,999 –  up 11%
  5. $500,000 – $749,999 – up  11%

The $1,000,000 + buyer has made a resurgence after this price class languished over most of 2016.  It’s a sign of a healthier market, not just in that price class but in the overall market.

A word of clarification on the $1+ million increase in home sales:  Months of Inventory for homes priced $1 million and up is higher than last months’ 11.8 months and it is currently at 12.2 months.  Price ranges at $400,000 and above are all in a buyers’ market and homes priced below $400,000 are in a strong sellers’ 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

 

Short URL: http://tinyurl.com/ybqdaxkf

The Greenesheet – Contracts/Forms Changes

Now is the time to speak up!

If there are TREC or TAR forms that bother you every time you complete them.  Or, there are forms you think should be created, now is the time to help TREC and TAR consider the changes that will make it easier for real estate agents to do their jobs. 

For example, do you think that mosquito systems should be added to the Seller’s Disclosure Notice, or a form is needed to request Hydrostatic Testing.  Or, that information about the presentation of Water District notices are not clear enough.  Then, click on one of the links below and give your opinion.

And, if that isn’t what you want to do, but you have great ideas, then send them to me and I will send them in with the other suggestions that I am submitting – but do it by June 1, 2017 as the deadline is June 9, 2017 to be received at TREC and/or TAR.  Be sure to reference the form number when making your suggestions.

This opportunity will not come again for a long time.  Let your voice be heard!  Click a link below…

Where to send ideas for improving your real estate forms

Despite all the forms you have at your disposal—32 from the Texas Real Estate Commission and 125 more from the Texas Association of REALTORS®—there are transactions where these forms don’t apply or lack provisions you wish were included. So, what can you do? Ask for a change.

TREC and TAR welcome suggestions at any time to change existing forms or create new ones. Send your ideas for

Although you might not get a response to your message, every suggestion is logged and reviewed. Your input is vital to ensure your forms keep pace with changes to the real estate industry.

Dianne McCoy, Realtor®
ABR, ABRM, CLHMS, CNE, CRB, CRP, CRS, GRI, MCNE, SRES, SRS
Director of Education and Compliance

Legal Disclaimer: The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.

While the Texas Association of REALTORS® has used reasonable efforts in collecting and preparing materials included here, due to the rapidly changing nature of the real estate marketplace and the law, and our reliance on information provided by outside sources, the Texas Association of REALTORS® makes no representation, warranty, or guarantee of the accuracy or reliability of any information provided here or elsewhere on TexasRealEstate.com. Any legal or other information found here, on TexasRealEstate.com, or at other sites to which we link, should be verified before it is relied upon.

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