April Brings 8% Increase in Home Sales

Houston single-family home sales in April closed 8% ahead of 2018. And even better news – contracts written but not closed went up 18%. This indicates that sales will continue to grow at least through May.  The number of listings has increased which means less home price appreciation in some price ranges.   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.

Top Selling Home Sales by Price Class for 2019 YTD

  1. $200,000-$249,999 – 4,844 sales YTD – 2.9  MOI
  2. $250,000-$299,999  – 3,389                     4.3  MOI
  3. $750,000-$999,999  – 1,215                    10.1 MOI
  4. $1,000,000 +               1,731                   12.9 MOI
  5. $400,000 – $499,999   3,097                     6.3 MOI

As you can see, homes priced below $300,000 have the lowest months of inventory, are in a sellers’ market and therefore will enjoy the highest home price appreciation.  Homes with 6.3 months of inventory are in a balanced market and those above 7 MOI 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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