Houston single-family home sales closed ahead of July 2017 by 9% and the increase in sales brought year-to-date sales up 4%. One might expect a cool-down after a hot first half of the year, however the Houston MLS recorded an 18% increase in pending sales during July. It’s a sign that things won’t slow down at least 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!
*Pending sales are homes that are under contract and have not closed and indicate current buyer demand.
Houston Home Sales by Price Class for 2018
Homes priced below $299,999 are in a sellers’ market. 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.