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

Houston Single-Family Homes Sales Up YTD by 5%

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Houston single-family home sales closed out November YTD with 5% more home sales than found last year.  Sales in the month of November were down 2%, however all other monthly metrics were in positive territory. Pending sales [homes under contract but not yet closed] were up 6% which is a sign that real estate sales may top the 2017 record even if ever so slightly.  It is interesting to note that listings have increased by 13% so inventory is more plentiful and buyers have more to choose from than this time last year.

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

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:It should be noted that the price range [$150,000-$199,999] has the most number of sales of any price cohort. This very popular selling price range is only up by 1% from last year however there were 16,359 homes sold in that price range and it has the strongest demand – showing 2 months of inventory. 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 metric 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 an 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 area, 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 5% in October

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Houston single-family home sales increased 5% in comparison to October 2017.  The increase brought YTD sales up by 5%. Pending sales [homes under contract but not yet closed] are also up 5% which is a sign that real estate sales may top the 2017 record even if ever so slightly.  It is interesting to note that listings have increased by twice the increase in home sales so inventory is more plentiful and buyers have more to choose from than this time last year.

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

*Pending sales are homes that are under contract and have not yet closed. 

Houston Home Sales by Price Cohort for 2018

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:

It should be noted that the price range [$150,000-$199,999] has the most number of sales of any price cohort. This very popular selling price range is only up by 1% from last year which is why it didn’t make the largest increase table above. There were 14,978 homes sold in that price range and it has the strongest demand – showing 2 months of inventory. 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 an 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 Up 6% for the year.

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Single-family home sales in September experienced a 6% decline over last September however, paradoxically September YTD home sales are up 6%.  The  YTD increase is more indicative of how the market is trending.   Even though the single-family market sounds a little flat, one metric indicates there is still a little wind left in the sails for 2018. Pending sales in September experienced a 9% increase and indicates that October may show an uptick in closed sales activity.

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

*Pending sales are homes that are under contract and have not closed.  Pending sales indicate the future sales trend.

Houston Home Sales by Price Class for 2018

What price ranges have experienced the largest unit increase in sales in Houston  during 2018? The table below reveals the answer.

All home price ranges in the table above are in a strong sellers’ market except $300,000-$399,999 which is still a sellers’ market but trending toward a normal market whether neither buyer or seller has an advantage.

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, go to www.GaryGreene.com.

The Greater Houston Partnership reports that Metropolitan Houston created 101,800 jobs – a 3.4% increase in 12 months ending July 2018.

It’s the strongest 12 month growth pace since February 2015!  Jobs are the #1 driver of real estate sales.

This spells opportunity for anyone wishing to sell their home!  It means higher demand and depending upon price range, less competition in the market to sell.  If you’re in the market to sell your home – contact a BHGRE Gary Greene agent today for a free market analysis

 

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 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