While a slight reduction in inventory was expected for Houston home sales in November, no one expected the inventory to drop almost 4% or more than 650 homes. Inventory now stands at 2.68 months.This is the lowest level since May 2014. As reported earlier, Houston single family home sales in November totaled 5,092, 1.8% increase
Houston Home Sales – Inventory Drops More Than Expected in November
Here is the Press Release from Houston Association of REALTORS® (HAR) for November home sales. Inventory level tightens while prices reach November Homes appear to be high on holiday shopping lists as consumers continued to snap up properties in November, pushing prices up once again while driving the supply level down. The majority of the
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Early Look At November Home Sales In Houston – Sales Near November 2013, Little Change In Inventory
My early analysis of available data from The Houston Association of REALTORS® (HAR) indicates that the number of single family homes sold in November will be near the number sold in November, 2013. There were 5,052 single family homes sold in November, 2013. The number of single family homes sold in Houston in November 2014 will be near that level, I believe the final result will be slightly higher than 2013.
Single family (SF) home sales in Houston set another blistering pace in October. Houston Association of REALTORS® (HAR) has released statistics for October 2014. There were 6,639 SF homes sold through HAR’s MLS in October 2014. This was 12.3% more than was sold in October 2013 and 2.3% more than was sold in September 2014. The
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A year ago, when one wanted a million dollar plus home Houston’s River Oaks and Avalon neighborhoods came first to mind. Now in River Oaks/Avalon $2 million is the new $1 million. Finding a good home priced under $2 million has become rare in River Oaks/Avalon. The graphic above shows home sales comparison for the first nine months of 2014 compared to the same period a year ago.
The graphic above shows the number of homes sold inside Houston’s Loop 610 in 2014 compared to the same period last year. Overall sales inside the Loop are up 3.4%. Prices have increased substantially with many fewer homes now priced under $350,000. This has caused a significant drop in the number of homes sold under $350,000. In 2011, 52.5% of all homes sold inside Loop 610 were under $350,000. So far this year, homes priced under $350,000 account for only 28.8% of homes sold.
The graphic above shows the number of homes sold in 2014 compared to last year. Overall sales in Houston are up 1.2%. With prices up substantially, the 9 month dollar volume of $15.4 billion is up 10.9% over 2013. As you can see the number of homes sold in every price range was up substantially, except for under $350,000.