The Houston Association of Realtors® Real Estate Information Services [MLS] in conjunction with the Real Estate Center for Texas A & M University recently published their November 2019 MLS Summary Report. The report shows a 4% increase in single family home sales for all new and existing homes in November and a 4% increase for November YTD. Even though the increases are slight in comparison to last year; every metric shows signs of strength as depicted below.
Below are the Top Five Highest Selling Price Ranges for the month and YTD in HARIS™:
All price ranges depicted above are selling with a [MOI] months of inventory reflecting a sellers’ market [4.6 months or less] with the exception of the $500,000-$749,999, which is in a balanced market of 6.3. Months of Inventory is a metric used to determine how long it would take to sell all of the current listings in that price range if no new homes came on the market. It is based on the current rate of sale. Homes priced above those in the table above are in a buyers market.
Houston is a mosaic of many areas where some areas are performing better than the overall market and some areas are not performing as well. Look at a breakdown of market performance by area here.
To view the areas of Houston by hotness, take a look at the Houston Hotness Index for November 2019.
Information provided by HARIS of the Houston Association of Realtors® in conjunction with Texas A & M University – The Real Estate Center and compiled by Toni Nelson.