Houston and The Woodlands TX Real Estate Update – July 2012

On June 26, we rolled out a new name and brand, Better Homes and Gardens Real Estate Gary Greene and Houston rolled out another growth month for real estate.

Houston experienced a 13% increase in single-family home sales in June and a 20% increase in dollar volume.  Pending sales saw a 5% increase indicating buyer demand will continue. This is quite an accomplishment when last June, Houston home sales hit bottom.  Every month thereafter, real estate has seen a growth in sales.  The key drivers are population growth and job growth.  According to the Greater Houston Partnership, on average, 1,000 people relocate to Houston each week and Houston has created 188,000 private sector jobs since January 2010.  Houston is becoming a boom town and real estate is the beneficiary.

 Here’s a glance at the trends for the month and year-to-date:

Houston Real Estate Information Services [MLS]

June 2012 and June YTD 2012 Performance

 

 

Metric

 

June

2012

%

change

from 2011

 

June

YTD 2012

%

change

from 2011

# of sales

6,434

14%

29,364

13%

Dollar volume

1,522,644704

20%

$6,548,764,730

18%

Avg. sales price

$236,856

5%

$223,020

5%

Med. sales price

$171,000

7%

$160,000

5%

Contracts written

3,395

5%

19,510

6%

# active listings

25,857

-22%

25,728

-20%

The Price Class Spectrum in Houston

What price ranges have sold the most in Houston and how have they changed?  Almost every price class from $80,000 and up is selling more homes than last year.  Below is a table of the Top 10.  With the exception of $900,000-$999,999, every price class from $170,000 and up is experiencing double-digit increases. The highest percentage price class increases are

  1. $700,000 – $799,999 – up 32%
  2. $800,000 – $899,999 — up 29%
  3. $190,000 – $199,999 –  up 28%
  4. $200,000 -$249,999  – up 26%
  5. $400,000 – $499,999 — up 26%
  6. $180,000 – $189,999 — up 23%
  7. $1,000,000 and more –up 21%

It’s an amazing change that has occurred in such a short time!

Top Ten Selling Price Classes in Houston Single-Family Real Estate for June YTD 2012

Price Class

Sales Year to Date

Active Listings

Months of Inventory

1. $200,000-$249,999

3,091

2,756

5.6

2  $300,000-$399,999

2,440

2,512

6.4

3. $250,000-$299,999

2,276

2,196

6.0

4. $120,000-$129,999

1,437

1,209

5.2

5. $130,000-$139,999

1,339

1,161

5.2

6. $80,000-$89,999

1,228

912

4.5

7. $150,000-$159,999

1,213

1,022

5.2

8. $400,000-$499,999

1,206

1,309

7.1

9. $140,000-$149,999

1,193

1,085

5.5

10.$90,000-$99,999

1,186

938

4.7

The Houston overall market is so large; it rarely reflects the same trends as a submarket area located within its boundaries.  Some areas are exceeding Houston’s overall growth in sales while others are lagging behind.  For a breakdown of activity by area with a map, go to CLICK HERE.

To see the hottest selling geographical areas in Houston, CLICK HERE.

To search for homes by price range, map, community and lifestyle,  CLICK HERE.

To view homes sales reports for The Woodlands TX – Click HERE.

Data provided by the Houston Association of Realtors® Multiple Listing Service, and The Real Estate Center for Texas A&M and written by Toni Nelson, Director of Strategic Initiatives for Better Homes and Gardens Real Estate Gary Greene