Houston single-family home sales declined 25% in comparison to August 2016 and fortunately, the decline wasn’t enough to put year-to-date sales in negative territory. Sales are still up a paltry 2% for the year. Since a large portion of closings occur at the end of the month – when Harvey hit – we have experienced a set-back and only time will tell if it recovers quickly. 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.
Houston Home Sales by Price Cohort for 2017
What price ranges have the largest increase in sales in Houston in August? The following price corhorts experienced the largest increase compared to 2016:
Based on the entire spectrum of Houston price cohorts, homes priced below $300,000 are in a sellers’ market. Homes priced $300,000-$399,999 are in a balanced market [6 months of inventory] 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.