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Tag Archives: Tom D Plant
Remember Daylight Savings Time ends tonight. Set your clocks back an hour when you go to bed unless you want to arrive early tomorrow!
Thanks to you, today we had our 500,000th visitor. I will more diligent in the coming weeks to get you more insightful information concerning Houston’s residential real estate market.
Historic Hatfield Estates, a deed restricted community consisting of 8 Home Sites comprising 137 acres. Located at the intersection of FM 912 and FM 1155 in Washington County, less than 2 miles to Washington-on-the-Brazos, seat of Texas’ Independence.
Just Sold – Great Location, First Floor Living and Affordable Price for a free standing patio home. This 3 bedroom, 2 1/2 bath home is light and bright. With easy access to River Oaks Shopping Center, Museums, Downtown and the new Buffalo Bayou park, it offers the opportunity for an active lifestyle. Alternatively, the gated front garden offers relaxed outdoor entertaining.
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.
You read here yesterday that Houston single family home sales in July exceeded a year ago by at least 3% and had a chance to be the highest sales month ever. The Houston Association of REALTORS® (HAR) issued their press release today. Indeed July 2015 single family home sales were 8,147, a 6.7% increase over July 2014 and 2.7% higher than the previous record month. Here is the complete release: