2019 Houston Real Estate Closes Out Strong!

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Houston single-family home sales experienced a 14% increase in home sales in December in comparison to 2018. The home sale surge in the last month of the year contributed to closing out 2019 with a 5% increase ahead of 2018. Houston real estate sales are expected to continue on the same pace in 2020 that was experienced in 2019.  

*pending sales are homes under contract that are scheduled to close at some point in the future.

What price ranges did the most homes sell in the Houston area last year?

As you can see, in the above table, the sweet spot for sales in Houston in 2019 was between the price ranges of $150,000 – $399,999.  Number of sales declines dramatically when the price goes to $400,000 and above.  This trend is expected to continue in 2020. 

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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November Real Estate Sales up 4%

The Houston Association of Realtors® Real Estate Information Services [MLS]  in conjunction with the Real Estate Center for Texas A & M University recently published their November 2019 MLS Summary Report.  The report shows a 4% increase in single family home sales for all new and existing homes in November and a 4% increase for November YTD.  Even though the increases are slight in comparison to last year; every metric shows signs of strength as depicted below.

Below are the Top Five Highest Selling Price Ranges for the month and YTD in HARIS™:

All price ranges depicted above are selling with a [MOI] months of inventory reflecting a sellers’ market [4.6 months or less] with the exception of the $500,000-$749,999, which is in a balanced market of 6.3.  Months of Inventory is a metric used to determine how long it would take to sell all of the current listings in that price range if no new homes came on the market.  It is based on the current rate of sale.  Homes priced above those in the table above are in a buyers market.

Houston is a mosaic of many areas where some areas are performing better than the overall market and some areas are not performing as well. Look at a breakdown of market performance by area here.

To view the areas of Houston by hotness, take a look at the Houston Hotness Index for November 2019.

Information provided by HARIS of the Houston Association of Realtors® in conjunction with Texas A & M University – The Real Estate Center and compiled by Toni Nelson.

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Houston real estate market for October continues in positive direction.

Single-family home sales in Houston continue to thrive with no signs of slowing down!  Home sales are up 8% from last October and up 2% year-to-date.  The most interesting metric for October is that there is a 20% increase in pending sales.  These are sales that are under contract and scheduled to close at some time in the future.  20% is quite a boost in sales that most likely will occur in the final months of 2019.

Here’s an overview of market activity for the month and year-to-date:

Below is a table of the highest % of sales by price range for October:

Houston covers a vast metropolitan area and some areas may be outperforming the Houston overall market, some may be underperforming and some may be performing like Houston.  For an overview of how your area is performing in relation to the overall market, click here.

One interesting aspect of the Houston single-family market is the Houston Hotness Index.  This table is created by area and lists from high to low – the hottest selling areas in Houston.  The Houston Hotness Index is determined by analyzing all areas and taking the number of listings on the market at the first of the month in relation to the number of pending sales. This ratio reveals each areas’ hotness.  To view the Houston Hotness Index, click here.

With October behind us and November in full bloom, we look forward to reporting on the market activity for the last 2 months of 2019.  Stay Tuned!

 

Submitted by Toni Nelson, Director of Strategic Initiatives for Better Homes and Gardens Real Estate Gary Greene. Data derived from the October 2019 report from the Houston Realtors® Information Services in conjunction with The Real Estate Center of Texas A&M.

 

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