2018 Single-Family Home Sales in Houston Increase 4%

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Although single-family home sales declined 4% in December, the year 2018 closed with 4% more home sales than 2017.  It was a great year for single-family home sales in Houston at the table below depicts.  All real estate market metrics are in positive territory with the exception of December home sales.

Here’s a glance at the trends for the month and year 2018:

*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 comparison to last year? The following price cohorts experienced the largest increase compared to 2017: 

Based on the entire spectrum of Houston price cohorts in the table above, homes priced $399,999 and below are in a sellers’ market.  Homes priced $500,000 and above are in a buyers’ market. You can see the difference in time on the market under “Months of Inventory”.  Months of Inventory is a figure indicating [at the current rate of sale and with no new homes coming on the market] how long it would take a home to sell in a specific price range. Generally, 6 months is a balanced market ( neither buyer or seller has the market advantage) – sellers’ market is below 6 months and a buyers’ market is above 6 months.

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

Better Homes and Gardens Real Estate Gary Greene Completes Merger of Brokerage Blake Wilcox Properties, LLC

HOUSTON, November 7, 2018 /PRNewswire/ – Better Homes and Gardens® Real Estate Gary Greene (“Gary Greene”), Houston’s longest-standing real estate firm, today announced the merger with Blake Wilcox Properties, LLC (“Blake Wilcox”), a 28 agent brokerage serving the North Houston and Montgomery County markets.

From left are MarkWoodroof and Marilyn Eiland, of BHGRE Gary Greene; Emily Wilcox and Blake Wilcox, of Blake Wilcox Properties LLC. Both companies announced the merger.

“We are delighted to welcome Blake and Emily Wilcox and their team to Gary Greene,” said Mark Woodroof, managing partner of Gary Greene. “Blake and Emily are so well respected and their agents are talented and knowledgeable about the local market. Agents from Blake Wilcox will join Gary Greene’s Magnolia office located in Montgomery County.” Blake and Emily Wilcox will continue to work together as The Blake Wilcox Group under Gary Greene. The Wilcoxes are eager to begin the next phase of their real estate careers. “Our team is in great hands with Gary Greene as their philosophy is similar to our own,” they explained. “As for us, we look forward to becoming an integral part of the brokerage.”

Gary Greene is currently home to approximately 1,100 agents working from 21 offices. “We are excited about the future,” said Marilyn Eiland, co-managing partner of Gary Greene. “Our team of real estate agents are passionate about the business and their primary mission is to help individuals achieve homeownership.”

About Better Homes and Gardens Real Estate Gary Greene
Better Homes and Gardens Real Estate Gary Greene has represented buyers and sellers of residential properties since 1963. Today, with 21 offices, and over 1,100 agents covering 10 counties across the Houston metropolitan area, Gary Greene lists and sells more homes and generates higher sales volumes than any other Houston broker. To learn more about the company visit www.GaryGreene.com.

The company also specializes in the relocation of buyers and sellers nationally and internationally as a principal broker in the Cartus Network, the industry leader in global mobility. Gary Greene offers the convenience of an in-house residential mortgage loan originator, insurance and title services, preferred electricity rates with Reliant Energy and home warranty protection plans.

For More Information Contact:
Better Homes and Garden Real Estate Gary Greene
Shari L. Mattern, Director of Marketing and Communications
Tel: 1.832.295.4172
Email: shari.mattern@garygreene.com

Top Ten Broker Rankings for July 2018

As we roll through the dog days of Summer, Better homes and Gardens Real Estate Gary Greene remains solidly in First Place! We’re Number One across all major selling and buying categories! Thank you for trusting us to handle one of life’s most important transactions for you- Talk to a Gary Greene agent to day to see how we can help you!

Download a PDF of this chart here.

Houston Single-Family Home Sales UP 9%

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!

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.

Houston Home Sales by Price Class for 2018

What price ranges have the largest increase in sales in Houston in July? The following price classes experienced the largest increase compared to 2017:

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.

 

 

 

Houston Real Estate Market Gets Hotter in June!

Hot temperatures are not  the only thing hot in Houston right now.  June single-family residential real estate sales are 2% ahead of 2017. Sales may even get hotter in July due to 10% more contracts written [a.k.a. pending sales*]  in June. An increase in pending sales indicates that sales will continue to be healthy at least through July.  As one can observe from the table below – there are fewer homes on the market however buyer demand continues.  These two factors put pressure on the average and median sales prices.  Hopefully, more in inventory will become available to satisfy demand and keep homes from appreciating beyond affordability.

 

 

 

 

 

 

 

 

*Pending sales are homes that are under contract and have not closed and indicate current buyer demand.

As the table depicts, listings are down 2% for June in comparison to last June, however, listings are down 3% YTD.  The average sales price and median sales price are slowly increasing and may continue to increase if the number of active listings continues to decline in high demand price ranges.  The result is home price appreciation which is a good thing for homeowners but too much appreciation can impact housing affordability.   The highest demand prices ranges can be viewed below.

Top Selling Home Sales by Price Class for 2018 YTD

  1. $150,000-$199,999 – 8,537 sales YTD – 1.8 Months of Inventory
  2. $200,000-$249,999  – 7,394 sales YTD –  3.2
  3. $300,000-$399,999  – 6,396 sales YTD –  5.7
  4. $250,000 – $299,999 – 5,273 sales YTD – 4.6
  5. $100,000 – $149,999 – 3,944 sales YTD –1.5

All of the above price classes are in a strong sellers’ market [they’re hot]!

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, 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, VIEW 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

 

 

Top Ten Broker Rankings – Mid Year 2018

The first half of 2018 is over, and once again Better homes and Gardens Real Estate Gary Greene is solidly in First Place across all major selling and buying categories! Thank you for trusting us to handle one of life’s most important transactions for you- Talk to a Gary Greene agent to day to see how we can help you!

Download a pic of this chart here.