Houston Real Estate Market Surges in July

Featured

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

  1. $200,000-$249,999 – 10,019 sales YTD – 3.5 Months of Inventory
  2. $150,000-$199,999  –   9,925 sales YTD –  2.1
  3. $300,000-$399,999  –   8,169 sales YTD –  5.7
  4. $250,000-$299,999  –   7,118 sales YTD – 4.7
  5. $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.

To search for homes by price range and map, follow this link.

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 gets hot in June – Real Estate Market Simmers

Featured

Single family home sales declined 3% in June with 8,097 homes sales recorded.  Despite the decline for the month, year-to-date sales are still in positive territory. The market is up 1%.  Homes that went under contract and are pending to close rose 13% in June which indicates that July could be a healthy closing month.  The table below indicates what to expect in the next half of the year.  More inventory chasing flat sales will continue to put a damper on home price appreciation in most price classes and increase days on the market in most price classes.

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

  1. $150,000-$199,999 – 8,236 sales YTD – 2.0 Months of Inventory
  2. $200,000-$249,999  – 8,196 sales YTD –  3.4
  3. $300,000-$399,999  – 6,608 sales YTD –  5.8
  4. $250,000-$299,999  – 5,793 sales YTD – 4.9
  5. $400,000-$499,999  – 2,966 sales YTD – 6.9

Based on the above top selling price classes, homes priced below $399,999 are in sellers’ markets, 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.

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

 

 

 

 

May experiences 3% increase in home sales.

Featured

May single-family [new and existing] home sales as reported by HAR-MLS experienced a 3% increase in sales and 3% YTD.  It seems like the summer sales engines are gearing up for a more impressive June because pending sales for May closed with an 11% increase. This indicates that sales will continue to be healthy at least through June.

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.

As the table depicts, listings are up 11% for May in comparison to last May, so there is a plentiful supply of inventory heading into the summer market.  Due to this increase in supply, the average sales price will rise at a much slower pace than has been seen in years past.  The highest demand prices ranges can be viewed below.

Highest % Increase of Top Selling Home Sales by Price Class for 2019 YTD

As you can see, although these homes sales by price class have experienced the largest increase in sales from 2018, they vary tremendously in terms of months of inventory.  The lower the price class, the less time it takes to sell and the higher the price class, the longer it takes to sell.  The $400,000-$499,999 is the median price class where homes below that price class are in a sellers’ market and homes above that price class 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

 

 

 

 

April Brings 8% Increase in Home Sales

Houston single-family home sales in April closed 8% ahead of 2018. And even better news – contracts written but not closed went up 18%. This indicates that sales will continue to grow at least through May.  The number of listings has increased which means less home price appreciation in some price ranges.   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.

Top Selling Home Sales by Price Class for 2019 YTD

  1. $200,000-$249,999 – 4,844 sales YTD – 2.9  MOI
  2. $250,000-$299,999  – 3,389                     4.3  MOI
  3. $750,000-$999,999  – 1,215                    10.1 MOI
  4. $1,000,000 +               1,731                   12.9 MOI
  5. $400,000 – $499,999   3,097                     6.3 MOI

As you can see, homes priced below $300,000 have the lowest months of inventory, are in a sellers’ market and therefore will enjoy the highest home price appreciation.  Homes with 6.3 months of inventory are in a balanced market and those above 7 MOI 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