My early analysis of available data from The Houston Association of REALTORS® (HAR) indicates that the number of single family homes sold in March was approximately 6,150 homes, which is a few homes more than March 2015.
Tag Archives: Houston Homes Market
The Houston Association of REALTORS® (HAR) has announced, as you read here yesterday, that single family sales in February rose more than 2% compared to February 2015. Following is the latest press release from HAR. Homes priced between $150K and $500K performed best The Houston real estate market managed to resist most of the effects
HAR recently restated the December results showing 6,240 single family homes were sold. HAR does its best to estimate results in order to get an early report. In most cases the actual and the estimate are very close. In December, the estimate was far off. I suspect there will be additional adjustments and December will finally show sales over 6,300 homes.
Those of you who pay close attention to the market will have noticed that HAR’s press release showed December performing much worse. The release indicated December single family home sales were 5,879 a 10% decline from December 2014. HAR uses estimates for their press release. I understand they will adjust the number of actual single family home sales to be slightly higher than I predicted in my posy January 13.
The Houston housing market kicked off 2016 with a strong month of sales, only about 2 percent off the January record, despite the ongoing effects of strains in the energy industry. Single-family homes priced between $150,000 and $250,000 saw year-over-year sales increase by nearly 9 percent while total property sales remained unchanged.
The number of single family homes sold in December will be approximately 6,250 homes, a 4% decline from December 2014. This will close out 2015 with the number of homes sold approximately 2% fewer than in 2014. This makes the year, the second highest on record.
The number of homes in West University/Southside Place priced between $1 million and $2 million increased from 9 in July 2014 to 17 in July 2015. There is only 2.3 months inventory for this price bracket, a strong Seller’s market. However, the inventory level for homes in West University/Southside Place priced over $2 million stands as 10.4 months, a strong Buyer’s market. The number of homes sold in this price range declined from 3 in July 2014 to 1 in July 2015.
The number of homes sold Inside the Loop in July 2015 remained flat compared to July 2014. The table above shows the percentage change by price range. Homes priced over $750,000 showed a significant increase in sales.
As reported earlier, Houston Single Family home sales in July increased 6.7% over July 2014 and set an all time record for number of homes sold in a single month. In absolute terms the increase was 511 more homes sold in July 2015. However, the increase was not across the entire price spectrum. The number of homes sold priced under $250,000 actually declined 4.3% compared to July 2014.
The median price of a single family home in Houston in July 2015 was $220,000. The definition of median is that one-half of all homes sold in July were under $220,000 and one-half were above $220,000. Houston’s median price has been increasing. The first month ever that the median price was over $200,000 was May 2014. Since that time the median price has been below $200,000 only four of the fifteen months. The movement of the median price tells us nothing about how much an individual home has increased in value but it is a good statistical measure of what prices are doing in general.