TOM PLANT'S HOUSTON REAL ESTATE BLOG

Sales of single family homes in Bellaire were up 10% in the First Half compared to 2009. The growth was primarily in homes priced under $750,000. However, 4 homes priced over $2 million were sold, three more than in the First Half of 2009. There is only one home in Bellaire currently on the market for $2 million.

Based upon information from the Houston Association of Realtors® or its MLS for the period January 1, 2009 to June 30, 2010. Current Listings as of July 1, 2010.

The number of existing Bellaire homes sold in 2010 was up compared to 2009 but more than 11% down from the recent past. The average price of existing homes is holding up but average Days on Market have increased to more than 5 months.

Based upon information from the Houston Association of Realtors® or its MLS for the period January 1, 2006 to June 30, 2010.

Sales of Bellaire’s new construction homes during the first Half of 2010 were the lowest they have been in five years. Part of the reason can be seen the numbers. In the four years since 2006, the average sales price of a new construction home has increased by more than 40% with the average price per square foot increasing more than 15%. Builders have built much larger, more expensive homes. The good news is that builders have built additional homes recently and inventory is down to 19 homes, slightly more than 6 months inventory. The caution is the homes remaining on the market are priced on average 8% higher than the homes which recently sold and the new construction homes currently on the market have been on the market and average of 493 days.

Based upon information from the Houston Association of Realtors® or its MLS for the period January 1, 2006 to June 30, 2010.

I have had my Blackberry Storm 2 from Verizon Wireless almost a year. Given the really bad experiences people had with the first Storm, I thought a long time before I made the purchase. It is NOT the perfect telephone but I like it. The primary reason is the large screen. Use of the virtual keyboard works fine, a marked improvement over the first. Will I move to the iPhone if Verizon gets it? I have not decided. I would consider it only after thoroughly investigating its email capabilities. In my work, the device must first work as an excellent telephone, second as an efficient email device. All of the other smart phone capabilities fall much lower on my priority.

Blackberry Storm 2

Sales of single family homes in Houston’s Southampton neighborhood slowed substantially in the Second Quarter of 2010. Southampton has been a bright spot in Houston’s housing market for the Second Half of 2009 and the First Quarter of 2010. The number of sales in The First Quarter of 2010 was double the level of 2009. However, during the Second Quarter of 2010 there were 6 homes sold compared to 19 in 2009. No homes priced between $1 million and $2 million sold in 2010 despite 14 being on the market.  Here are the details:

Based upon information from the Houston Association of Realtors® or its MLS for the period January 1, 2009 to June 30, 2010.

Here is the comparison to previous years:

Based upon information from the Houston Association of Realtors® or its MLS for the period January 1, 2006 to June 30, 2010.