Do you like real estate stats? Because we have stats! See which areas of Houston and beyond people bought homes in with the report at this link.
The weather may be getting chilly, but home sales are hot! See where your new neighbors moved this month with the neighborhood Hotness Index!
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.
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.
People are buying houses in every corner of the metro Houston area! To see which neighborhoods gained the most new neighbors, download a copy of this graphic here!
For an in-depth detailed report of the state of Houston and Texas’ Real Estate Market, take a look at our Market Report for October! You can download a copy here.
Single family home sales rose 12% in July with 8,953 homes sales recorded. August looks even more promising due to a 19% rise in pending sales. As a comparison, June experienced a 13% increase in pending sales last month fueling a 12% increase in closed sales this month. The table below is a synopsis of overall market activity for the month and year-to-date. Even though listings are up by 9% for the month, this is a better scenario than last month when they were up 12%. If sales continue to rise, which helps to absorb more inventory – home prices are less likely to decline.
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.
T op Selling Home Sales by Price Class for 2019 YTD
- $200,000-$249,999 – 10,019 sales YTD – 3.5 Months of Inventory
- $150,000-$199,999 – 9,925 sales YTD – 2.1
- $300,000-$399,999 – 8,169 sales YTD – 5.7
- $250,000-$299,999 – 7,118 sales YTD – 4.7
- $100,000-$149,999 – 3,775sales YTD – 2.2
Based on the above top selling price classes, homes priced below $399,999 are in sellers’ markets, and homes above that price 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.
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
For in-depth detail of the state of the Houston and Texas Real Estate Market, take a look at our Market Report for July! You can download a copy here,
What were the hottest selling neighborhoods in the Houston area? Check ou the Hotness Index for July to see whee your friends wee buying houses!
BHGRE Gary Greene continues to lead all other real estate companies when it comes to buying or selling homes! Facts are facts- Don’t believe the hype! Give us a call today!