February YTD Single-Family Home Sales Up 4%

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Houston single-family home sales in February closed flat – meaning no increase or decline from last year.  Despite being flat, year-to-date sales are up 4%. The market is about to break loose for the Spring market based on February pending sales which closed up 15%.  Although the year seems off to a slow start, statistics below indicate it will wake up and run in March. 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.

What we’re seeing in the first two months of the year is an increase in inventory and a slowing of rising average sales prices.  This is a natural progression as inventory rises. The most positive sign is the increase in pending sales which indicates that more buyer demand is on the horizon.

 

Houston Home Sales by Price Class for 2018

The following price classes experienced the only increase in sales over February 2016:

  1. $250,000-$299,999 – up 7% with only 4 months of inventory
  2. $200,000-$249,999  – up 5% with only 2.9 months of inventory
  3. $500,000-$749,999    up 3% with 6.7 months of inventory

Keep in mind that homes priced below $500,000 are in a sellers’ market with at least 5.8 months of inventory or less as the price class declines in value .  Example:  Homes priced below $250,000 have less than 4 months of inventory.  Homes priced above $500,000 are in a buyers’ market with 6.7 months of inventory or more.  Months of Inventory is a statistic used to express how long it will take to deplete the inventory if no new homes come on the 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, 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

 

 

 

 

 

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%

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

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.

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