Houston Single-Family Home Sales Increase 7%

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Houston single-family home sales lost minimal sales velocity from October [8% increase] to November. The 7% increase kept sales up 3% for the year. Pending sales rose 18% in November indicating December will close out the year better than 2016!  All metrics for residential real estate indicate a healthy market as can be seen in the graph below.

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

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 2016:

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 $400,000 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], a 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

Houston Single-Family Home Sales Increase 8%

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Houston single-family home sales increased 8% in comparison to October 2016 and this increase put year-to-date sales in positive territory.  Sales are up 3% for the year and continue to steer forward positively in the aftermath of Harvey. Pending sales rose 20% from October 2016 and that is the best indication of the future market – good sales volume – at least for November.   Due to this unusually high increase in pending sales, it is also very probable that 2017 may close out as a better real estate year than 2016 even with Harvey’s devastating impact!  All metrics for residential real estate are looking good as can be seen in the graph depicted below.

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 Cohort for 2017

What price ranges have the largest increase in sales in Houston in October? The following price cohorts experienced the largest increase compared to 2016:

Based on the entire spectrum of Houston price cohorts, homes priced $399,999 and below are in a sellers’ market.  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.

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

 

 

Harvey Hits Houston Single-Family Home Sales

Houston single-family home sales declined 25% in comparison to August 2016 and fortunately, the decline wasn’t enough to put year-to-date sales in negative territory.  Sales are still up a paltry 2% for the year.  Since a large portion of closings occur at the end of the month – when Harvey hit – we have experienced a set-back and only time will tell if it recovers quickly.  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 Cohort for 2017

What price ranges have the largest increase in sales in Houston in August? The following price corhorts experienced the largest increase compared to 2016:

Based on the entire spectrum of Houston price cohorts, homes priced below $300,000 are in a sellers’ market.  Homes priced $300,000-$399,999 are in a balanced market [6 months of inventory] 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.