Sugar Land Real Estate Info

HOUSTON PROPERTY SALES RISE FOR A TENTH STRAIGHT MONTH

Sheila — Wed, 18 Apr 2012 22:27:21 +0000

Average and median prices reach the highest levels for a March in Houston while inventory maintains its lowest level in more than three years

HOUSTON — (April 17, 2012) — The Houston real estate market enjoyed a tenth consecutive month of rising sales in March, with homes continuing to sell quickly enough to keep housing inventory at its lowest level since December 2008. Average and median prices achieved the highest levels for a March in Houston, with the average price coming just a few dollars shy of the all-time high set in June 2008.

According to the latest monthly data prepared by the Houston Association of REALTORS® (HAR), March sales of single-family homes rose 7.8 percent versus one year earlier. That follows February’s 15.6 percent jump which was the biggest sales boost since last September. Declining sales of homes priced below $80,000 combined with increased activity in the luxury housing segment fueled the pricing gains.

“March was an excellent month for home sales in Houston and the healthy appreciation in pricing is welcome news as well,” said Wayne A. Stroman, HAR chairman and CEO of Stroman Realty. “Inventory remains at its lowest level in more than three years and is outpacing the national real estate market. The moderation in pending sales in March could possibly translate to a leveling off of sales before we enter the summer buying season, but we will know for sure next month.”

The March single-family home average price rose 5.7 percent year-over-year to $227,270, the highest level for a March in Houston and only $70 below the all-time high reached in June 2008. The median price—the figure at which half of the homes sold for more and half sold for less—climbed 7.8 percent to $161,750, also a record high for a March in Houston.

Foreclosure property sales reported in the Multiple Listing Service (MLS) fell 12.8 percent year-over-year in March. Foreclosures comprised 19.6 percent of all property sales, which is down from the 21.1 percent level observed over the past 12 months. The median price of foreclosures in February was flat at $81,500.

March sales of all property types in Houston totaled 5,908, an increase of 7.4 percent compared to March 2011. Total dollar volume for properties sold during the month soared 15.2 percent to $1.3 billion versus $1.1 billion a year earlier.

March Monthly Market Comparison

The month of March brought Houston’s overall housing market positive results when all sales categories are compared to March 2011. Total property sales, total dollar volume and average and median pricing rose on a year-over-year basis.

Month-end pending sales for March totaled 4,162. That is down a fractional 0.7 percent from last year and may suggest a slight tapering of sales when the April housing data are compiled. The number of available properties, or active listings, at the end of March declined 17.8 percent from March 2011 to 41,997. For the second month in a row, the inventory of single-family homes held to the lowest level since December 2008-5.6 months. That compares to 7.5 months one year earlier and means that selling the entire inventory single-family homes currently on the market would take 5.6 months to complete based on the past year’s sales activity. The figure is superior to the national inventory of single-family homes of 6.4 months recently reported by the National Association of REALTORS® (NAR). These indicators continue to demonstrate that Houston has a balanced real estate marketplace.

CATEGORIES	MARCH 2011	MARCH 2012	PERCENT CHANGE
Total property sales	5,499	5,908	7.4%
Total dollar volume	$1,122,788,737	$1,293,042,237	15.2%
Total active listings	51,091	41,997	-17.8%
Total pending sales	4,190	4,162	-0.7%
Single-family home sales	4,634	4,996	7.8%
Single-family average sales price	$214,980	$227,270	5.7%
Single-family median sales price	$150,000	$161,750	7.8%
Months inventory*	7.5	5.6	-25.9%

* Months inventory estimates the number of months it will take to deplete current active inventory based on the prior 12 months sales activity. This figure is representative of the single-family homes market.

Single-Family Homes Update

March sales of single-family homes in Houston totaled 4,996, up 7.8 percent from March 2011. This marks the tenth consecutive monthly increase.

Broken out by housing segment, March sales performed as follows:

$1 – $79,999: declined 8.4 percent,

$80,000 – $149,999: increased 3.5 percent

$150,000 – $249,999: increased 19.7 percent

$250,000 – $499,999: increased 12.1 percent

$500,000 – $1million and above: increased 12.5 percent

At $227,270, the average price of single-family homes rose 5.7 percent from last March, resulting from a combination of increased sales activity among luxury homes and a decline in the sales of homes priced below $80,000. The average price achieved a March high but fell just shy of the historic level of $227,340 reached in June 2008. At $161,750, the median sales price for single-family homes climbed 7.8 percent year-over-year, also achieving a high-point for a March in Houston.

HAR also breaks out the sales performance of existing single-family homes throughout the Houston market. In March 2012, existing home sales totaled 4,088, a 6.3 percent increase from March 2011. The average sales price rose 6.5 percent from last year to $212,524 and the median sales price increased 7.4 percent to $145,000.

Townhouse/Condominium Update

The number of townhouses and condominiums that sold in March declined 3.6 percent compared to one year earlier. In the greater Houston area, 374 units were sold last month versus 388 properties in March 2011.

The average price jumped 15.2 percent to $166,228 compared to March 2012. The median price of a townhouse/condominium rose 17.4 percent to $135,000.

Lease Property Update

Demand for lease properties persisted throughout the Houston market in March. Single-family home rentals rose 10.3 percent compared to one year earlier and year-over-year townhouse/condominium rentals increased 3.8 percent.

Houston Real Estate Milestones in March

Volume of single-family home sales rose 7.8 percent, accounting for the tenth consecutive monthly increase;

At $227,270, the single-family home average price reached the highest level for a March in Houston and came just $70 short of the all-time high achieved in June 2008.

At $161,750, the single-family home median price also hit the highest level for a March in Houston;

Single-family home rentals rose 10.3 percent;

Townhouse/condominium rentals increased 3.8 percent;

5.6 months inventory of single-family homes remains at the lowest level since December 2008 and compares favorably to the national average of 6.4 months.

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The computerized Multiple Listing Service of the Houston Association of REALTORS® includes residential properties and new homes listed by REALTORS® throughout Harris, Fort Bend and Montgomery counties, as well as parts of Brazoria, Galveston, Waller and Wharton counties. Residential home sales statistics as well as listing information for more than 50,000 properties may be found on the Internet at http://www.har.com.

The information published and disseminated to the HAR Multiple Listing Services is communicated verbatim, without change by Multiple Listing Services, as filed by MLS participants.

The MLS does not verify the information provided and disclaims any responsibility for its accuracy. All data is preliminary and subject to change. Monthly sales figures reported since November 1998 includes a statistical estimation to account for late entries. Twelve-month totals may vary from actual end-of-year figures. (Single-family detached homes were broken out separately in monthly figures beginning February 1988.)

Founded in 1918, the Houston Association of REALTORS® (HAR) is a member organization of real estate professionals engaged in every aspect of the industry, including residential and commercial sales and leasing, appraisal, property management and counseling. It is the largest individual dues-paying membership trade association in Houston as well as the second largest local association/board of REALTORS® in the United States.

Important: Secure Your Home

Sheila — Thu, 12 Apr 2012 23:47:07 +0000

I recently had the unfortunate experience of having my home burglarized. I thought my home was pretty safe:

It’s in a low-crime neighborhood with active police patrols.
I have an alarm which I always activate when I leave.
I had good quality, double-key locks on all my doors.
I have two, small, barky dogs.

But in spite of all that, my front, side door (next the the garage, but on the front of the house) was kicked in at 2:25 p.m. on a school day…in the middle of the afternoon! I always thought break-ins happened at night! But here’s the truth…

Your Door Is Easy to Kick In

So I started researching this problem and how to prevent further break-ins in the future and I came across some interesting facts that I did not know. One of the best articles that I read was “Home Security: Burglary Prevention Advice” by Chris E McGoey, CPP, CSP, CAM at http://www.crimedoctor.com/home.htm

That article points out:

“The most common way used to force entry through a door with a wooden jamb is to simply kick it open. The weakest point is almost always the lock strike plate that holds the latch or lock bolt in place followed by a glass paneled door. The average door strike plate is secured only by the soft-wood doorjamb molding. These lightweight moldings are often tacked on to the door frame and can be torn away with a firm kick. Because of this construction flaw, it makes sense to upgrade to a four-screw, heavy-duty, high security strike plate. They are available in most quality hardware stores and home improvement centers and are definitely worth the extra expense. Install this heavy-duty strike plate using 3-inch wood screws to cut deep into the door frame stud. Use these longer screws in the knob lock strike plate as well and use at least one long screw in each door hinge. This one step alone will deter or prevent most through-the-door forced entries. You and your family will sleep safer in the future.”

So now I tell all my friends, family, clients–EVERYONE!–that they need to secure their strike plates with 3.5 inch screws. It doesn’t matter how good your lock is, if all a thief has to do is kick in the door! These screws are inexpensive and easy to install no matter how “tool challenged” you may be.

You Need Better Locks

The second thing that I did, was to replace my double-key locks with The Ultimate Lock which was designed by a former Houston police officer and are made right here in Fort Bend County! These things are incredible. They have a safety pin which, when pushed in, prevents even a person with a key from unlocking the door. You can buy them at Lowes for about $180 each.

Watch the demonstration video: http://www.youtube.com/watch?v=PbvSXaSYkq4

Security Film for Windows Is Incredible

Another thing that I learned is that if they can’t kick your door in, then they will probably “smash and grab” a window…most likely a master bath or master bedroom window, because most people keep their valuables and prescription medication in the master bathroom or closet. I am good friends with two police officers who have security film on their widnows to prevent this. Plus, I asked a Fort Bend Sheriff’s deputy to give my house a security audit, and he too has security film on his home windows. That’s 3 out of 3 police officers that I know who have security film on their own homes. So I contacted Steve Meyer, at SunTech Glass Tinting, to install security film on my windows too…especially all the windows next to my doors and locks!

There are many different brands of security film, but you have to check out a video demonstration: http://www.youtube.com/watch?v=xlEcffvTWak to believe it.

You can search on YouTube for “security film for windows” and see lots of different demonstration videos. The cool thing about this stuff, is not only does it improve the security of your home, it’s also a layer of protect from flying debris…say, during a hurricane. I think…that’s good…one less thing.

HOUSTON HOME SALES SHOW CONTINUED VITALITY IN FEBRUARY

Sheila — Sun, 18 Mar 2012 22:29:13 +0000

Home sales climb for a ninth straight month with inventory at its lowest level in more than three years

HOUSTON — (March 20, 2012) — February marked the ninth consecutive month of positive home sales across the greater Houston area, and properties sold at a brisk enough pace to drive housing inventory to its lowest level since December 2008. The month also saw the trademarks of a healthy real estate market continue to prevail—a decline in active property listings and rise in pending sales.

February sales of single-family homes soared 16.9 percent versus one year earlier, according to the latest monthly data prepared by the Houston Association of REALTORS® (HAR). That is the biggest sales boost since August 2011. A surge in sales among homes priced between $80,000 and $250,000 combined with flat sales in the luxury housing segment allowed the average and median price to retreat slightly.

“The Houston housing market continues to show welcomed strength at the end of February 2012,” said Wayne A. Stroman, HAR chairman and CEO of Stroman Realty. “In addition to all the positive indicators in HAR’s February report, Houston is reaping the benefits of great economic news in the form of more than 76,000 jobs created over the past year, according to the Texas Workforce Commission. It stands to reason that with new jobs being filled, these employees and their families will need housing.”

February’s single-family home median price—the figure at which half of the homes sold for more and half sold for less—dipped a fractional 0.7 percent year-over-year to $149,900. The average price fell 4.6 percent from February 2011 to $201,945.

Foreclosure property sales reported in the Multiple Listing Service (MLS) increased 21.1 percent year-over-year in February. Foreclosures comprised 23.2 percent of all property sales, which is consistent with the levels observed over the past 12 months. The median price of foreclosures in February was unchanged at $79,000.

February sales of all property types in Houston totaled 4,561, up 15.8 percent compared to February 2011. Total dollar volume for properties sold during the month rose 13.4 percent to $894 million versus $788 million one year earlier.

February Monthly Market Comparison

The month of February brought Houston’s overall housing market positive results when all sales categories are compared to February 2011. Total property sales and total dollar volume rose on a year-over-year basis. The median price declined less than one percent while the average price fell 4.6 percent.

Month-end pending sales for February totaled 3,445. That is up 13.5 percent from last year and suggests another month of positive sales when the March housing data are tallied. The number of available properties, or active listings, at the end of February declined 15.3 percent from February 2011 to 42,206. The inventory of single-family homes dropped to its lowest level since December 2008—5.6 months, compared to 7.3 months one year earlier. That means selling all the single-family homes on the market would take 5.6 months to complete based on the past year’s sales activity. The figure is better than the national inventory of single-family homes of 6.1 months reported by the National Association of REALTORS® (NAR). These indicators all continue to reflect a healthy and balanced real estate marketplace for Houston.

CATEGORIES	FEBRUARY 2011	FEBRUARY 2012	PERCENT CHANGE
Total property sales	3,938	4,561	15.8%
Total dollar volume	$788,631,666	$894,542,550	13.4%
Total active listings	49,836	42,206	-15.3%
Total pending sales	3,036	3,445	13.5%
Single-family home sales	3,277	3,832	16.9%
Single-family average sales price	$211,725	$201,945	-4.6%
Single-family median sales price	$150,990	$149,900	-0.7%
Months inventory*	7.3	5.6	-22.5%

Single-Family Homes Update

February sales of single-family homes in Houston totaled 3,832, up 16.9 percent from February 2011. This marks the ninth consecutive monthly increase and the biggest hike since last August.

Broken out by segment, February sales of homes priced below $80,000 rose 16.7 percent; sales of homes in the $80,000-$150,000 range climbed 23.1 percent; sales of homes between $150,000 and $250,000 shot up 24.3 percent; sales of homes ranging from $250,000-$500,000 were up 7.4 percent; and sales of homes that make up the luxury market—priced from $500,000 and up—were unchanged year-over-year.

At $201,945, the average price of single-family homes slid 4.6 percent from last February, resulting from a combination of heavy sales activity among homes in the middle price segments and flat luxury home sales. At $149,900, the median sales price for single-family homes declined a fractional 0.7 percent year-over-year. The national single-family median price reported by NAR is $154,700, illustrating the continued higher value and lower cost of living available to consumers in Houston.

HAR also breaks out the sales performance of existing single-family homes throughout the Houston market. In February 2012, existing home sales totaled 3,141, a 16.0 percent increase from February 2011. The average sales price declined 4.3 percent from last year to $187,371 and the median sales price also declined 2.9 percent to $134,000.

Townhouse/Condominium Update

The number of townhouses and condominiums that sold in February rose 2.9 percent compared to one year earlier. In the greater Houston area, 319 units were sold last month versus 310 properties in February 2011.

The average price was statistically flat at $156,462 compared to February 2012. The median price of a townhouse/condominium edged up 2.1 percent to $122,000.

Lease Property Update

Lease properties throughout the Houston market continue to be in high demand. Single-family home rentals rose 21.1 percent in February compared to one year earlier and year-over-year townhouse/condominium rentals climbed 19.6 percent.

Houston Real Estate Milestones in February

Volume of single-family home sales rose 16.9 percent, accounting for the ninth consecutive monthly increase and the biggest hike since August 2011;

Single-family home rentals rose 21.1 percent;

Townhouse/condominium rentals increased 19.6 percent;

5.6 months inventory of single-family homes is the lowest level since December 2008 and compares favorably to the national average of 6.1 months.

___________________________________________________________________

The information published and disseminated to the HAR Multiple Listing Services is communicated verbatim, without change by Multiple Listing Services, as filed by MLS participants.

THE NEW YEAR BEGINS ON A POSITIVE NOTE FOR THE HOUSTON REAL ESTATE MARKET

Sheila — Sat, 18 Feb 2012 22:25:39 +0000

January marks the eighth consecutive month of increased home sales

HOUSTON – (February 21, 2012) — The Houston housing market held to positive territory as 2012 began, with January marking the eighth consecutive month of increased home sales. The year also opened with a continued decline in active property listings and growth in pending sales—a combination that signals a healthy market with a balanced supply of housing inventory, and that puts Houston on enviable footing compared to many other markets around the U.S. that are slowly recovering from the housing downturn.

January sales of single-family homes climbed 9.2 percent versus one year earlier, according to the latest monthly data prepared by the Houston Association of REALTORS® (HAR). All segments of the housing market grew except the luxury segment—those homes priced from $500,000 and above—whose decline flattened the overall average price.

“The January report shows continued strength in the Houston housing market that we began seeing in the latter part of 2011, and it gives us cause for optimism as we look ahead to the typically active spring and summer buying months,” said Wayne A. Stroman, HAR chairman and CEO of Stroman Realty. “We have also seen more jobs being filled locally and you generally don’t experience a strong real estate market without healthy employment.”

January’s single-family home median price—the figure at which half of the homes sold for more and half sold for less—rose 0.9 percent year-over-year to $139,900. The average price of $194,765 was statistically unchanged from January 2011.

Foreclosure property sales reported in the Multiple Listing Service (MLS) increased 22.0 percent year-over-year in January. Foreclosures comprised 27.8 percent of all property sales, which is higher than the 2011 average of 21.0 percent. The median price of foreclosures in January was flat at $82,550.

January sales of all property types in Houston totaled 3,632, up 4.8 percent compared to January 2011. Total dollar volume for properties sold during the month rose 5.9 percent to $683 million versus $645 million one year earlier.

January Monthly Market Comparison

The month of January brought Houston’s overall housing market positive results when all sales categories are compared to January 2011. Total property sales and total dollar volume rose on a year-over-year basis. The median price rose while the average price was flat.

Month-end pending sales for January totaled 3,164. That is up 6.0 percent from last year and suggests another positive month of sales when the February figures are tallied. The number of available properties, or active listings, at the end of January declined 15.1 percent from January 2011 to 42,067. The inventory of single-family homes dropped to its lowest level since December 2009—5.7 months, compared to 7.2 months one year earlier. That means it would take 5.7 months to sell all the single-family homes on the market based on sales activity over the past year. The figure is significantly better than the national inventory of single-family homes of 7.2 months reported by the National Association of REALTORS® (NAR). These indicators all continue to reflect a balanced real estate marketplace for Houston.

CATEGORIES	JANUARY 2011	JANUARY 2012	PERCENT CHANGE
Total property sales	3,467	3,632	4.8%
Total dollar volume	$645,477,929	$683,494,880	5.9%
Total active listings	49,523	42,067	-15.1%
Total pending sales	2,984	3,164	6.0%
Single-family home sales	2,792	3,049	9.2%
Single-family average sales price	$195,295	$194,765	-0.3%
Single-family median sales price	$138,700	$139,900	0.9%
Months inventory*	7.2	5.7	-21.1%

Single-Family Homes Update

January sales of single-family homes in Houston totaled 3,049, up 9.2 percent from January 2011. This marks the eighth consecutive monthly increase.

Broken out by segment, January sales of homes priced below $80,000 rose 6.4 percent; sales of homes in the $80,000-$150,000 range climbed 12.4 percent; sales of homes between $150,000 and $250,000 were up 17.6 percent; sales of homes ranging from $250,000-$500,000 advanced 4.8 percent; and sales of homes that make up the luxury market—priced from $500,000 and up—declined 2.1 percent.

At $194,765, the average price of single-family homes was statistically unchanged from last January, resulting from the lower volume of luxury home sales. At $139,900, the median sales price for single-family homes rose 0.9 percent year-over-year. The national single-family median price reported by NAR is $164,500, illustrating the continued higher value and lower cost of living available to consumers in Houston.

HAR also breaks out the sales performance of existing single-family homes throughout the Houston market. In January 2012, existing home sales totaled 2,594, an 8.1 percent increase from January 2011. The average sales price declined 1.4 percent from last year to $181,310 and the median sales price also declined 1.4 percent to $125,000.

Townhouse/Condominium Update

The number of townhouses and condominiums that sold in January fell 6.2 percent compared to one year earlier. In the greater Houston area, 271 units were sold last month versus 289 properties in January 2011.

The average price dipped 3.1 percent to $137,626 from January 2011 to January 2012. The median price of a townhouse/condominium declined 9.6 percent to $96,050.

Lease Property Update

Single-family home rentals rose 15.3 percent compared to one year earlier and year-over-year townhouse/condominium rentals climbed 15.6 percent. This is consistent with increases in the leasing market recorded throughout 2011.

Houston Real Estate Milestones in January

Volume of single-family home sales rose for the eighth consecutive month;

Single-family home rentals rose 15.3 percent;

Townhouse/condominium rentals increased 15.6 percent;

5.7 months inventory of single-family homes is the lowest level since December 2009 and compares favorably to the national average of 7.2 months.

______________________________________________________________________________________

The information published and disseminated to the HAR Multiple Listing Services is communicated verbatim, without change by Multiple Listing Services, as filed by MLS participants.

OCTOBER MARKS THE HOUSTON AREA’S FIFTH CONSECUTIVE MONTH OF POSITIVE HOME SALES

Sheila — Thu, 17 Nov 2011 15:06:19 +0000

Average price hits an October high as increased pending sales and declining months inventory signal ongoing market stability

HOUSTON — (November 16, 2011) — The Houston real estate market has added reason to be grateful this Thanksgiving season after logging a fifth straight month of positive home sales in October. The year-over-year increase in single-family homes sales, coupled with a rise in pending sales and continued decline in months inventory, signals a market that is benefitting from a healthy absorption of housing inventory. Adding to the positive report is an average price that achieved an all-time high for an October in Houston.

According to the latest monthly data prepared by the Houston Association of REALTORS® (HAR), October sales of single-family homes rose 9.1 percent versus one year earlier. All segments of the housing market, from the sub-$80,000 to the $500,000 and above, experienced growth. On a year-to-date basis, sales were up 3.4 percent.

“The further we distance ourselves from last year’s tax credit as we analyze the local housing data, the clearer an indication we get of market performance, and the latest numbers show a healthy sales climate for an autumn in Houston,” said Carlos P. Bujosa, HAR chairman and VP at Transwestern. “As long as the Houston economy continues to strengthen with additional job growth, we can be cautiously optimistic about the state of the housing market going into the new year.”

The average price of a single-family home rose 1.1 percent from October 2010 to $208,506, the highest level for an October in Houston. The October single-family home median price—the figure at which half of the homes sold for more and half sold for less—was unchanged from the October high of $150,000 it reached in 2010.

Foreclosure property sales reported in the Multiple Listing Service (MLS) increased 6.0 percent year-over-year in October. Foreclosures comprised 22.0 percent of all property sales, up slightly from the 19 to 20 percent range they have maintained since May of this year. The median price of foreclosures in October was flat at $80,600.

October sales of all property types in Houston totaled 4,815, up 8.9 percent compared to October 2010. Total dollar volume for properties sold during the month rose 10.9 percent to $962 million versus $867 million one year earlier.

October Monthly Market Comparison

The month of October brought Houston’s overall housing market positive results when all sales categories are compared to October of 2010. Increases in the volume of closed and pending sales reflected more normal, seasonal trending after several months in which the data was distorted by the 2010 tax credit that led to a sharp decline in home sales after it expired. Total property sales and total dollar volume rose on a year-over-year basis while the average price climbed to an historic high for an October in Houston.

Month-end pending sales for October totaled 3,092. That is up 9.6 percent from last year and portends another positive month when the November sales figures are tallied. The number of available properties, or active listings, at the end of October declined 12.0 percent from October 2010 to 46,674. The inventory of single-family homes dropped to its lowest level since April 2010—6.6 months, compared to 7.7 months one year earlier. That means it would take 6.6 months to sell all the single-family homes on the market based on sales activity over the past year. The figure is significantly better than the national inventory of single-family homes of 8.5 months reported by the National Association of REALTORS® (NAR). These indicators all reflect a balanced real estate marketplace for Houston.

CATEGORIES	OCTOBER 2010	OCTOBER 2011	PERCENT CHANGE
Total property sales	4,420	4,815	8.9%
Total dollar volume	$867,182,719	$961,640,986	10.9%
Total active listings	53,039	46,674	-12.0%
Total pending sales	2,821	3,092	9.6%
Single-family home sales	3,741	4,080	9.1%
Single-family average sales price	$206,165	$208,506	1.1%
Single-family median sales price	$150,000	$150,000	0.0%
Months inventory*	7.7	6.6	-14.1%

Single-Family Homes Update

October sales of single-family homes in Houston totaled 4,080, up 9.1 percent from October 2010. This marks the fifth consecutive increase of the year following a 1.4 percent rise in June, 15.3 jump in July and increases of 28.8 percent and 15.2 percent in August and September, respectively. On a year-to-date basis, sales are ahead 3.4 percent.

Broken out by segment, October sales of homes priced below $80,000 rose 4.8 percent; sales of homes in the $80,000-$150,000 range climbed 11.5 percent; sales of homes between $150,000 and $250,000 were up 11.8 percent; sales of homes ranging from $250,000-$500,000 advanced 8.0 percent; and sales of homes that make up the luxury market—priced from $500,000 and up—ticked up 0.8 percent.

The average price achieved the highest level ever for an October in Houston. At $208,506, the average price of single-family homes rose 1.1 percent compared to last October. At $150,000, the median sales price for single-family homes matched its all-time October high set in 2010. The national single-family median price reported by NAR is $165,600, illustrating the continued higher value and lower cost of living available to consumers in Houston.

HAR also breaks out the sales performance of existing single-family homes throughout the Houston market. In October 2011, existing home sales totaled 3,434, a 10.3 percent increase from October 2010. The average sales price was unchanged from last year at $194,997 and the median sales price was also flat at $139,500.

Townhouse/Condominium Update

The number of townhouses and condominiums that sold in October jumped 16.9 percent compared to one year earlier, marking the fourth straight monthly sales increase. The first was a 25.3 percent rise in July, followed by a 20.5 percent increase in August and 14.6 percent gain in September. In the greater Houston area, 352 units were sold last month versus 301 properties in October 2010.

The average price jumped 13.0 percent to $163,221 from October 2010 to October 2011. The median price of a townhouse/condominium rocketed 22.7 percent to $132,500. Both average and median prices were the highest ever for an October in Houston.

Lease Property Update

The trend in soaring demand for lease properties throughout the Houston market continued in October. Single-family home rentals rose 24.8 percent compared to one year earlier and year-over-year townhouse/condominium rentals climbed 18.5 percent. HAR has reported throughout much of 2011 that this demand has been largely driven by steady improvement in the local employment landscape, with REALTORS® observing a surge in consumers relocating to Houston from around the U.S. According to the Texas Workforce Commission’s latest report, the Houston-Sugar Land-Baytown Metropolitan Statistical Area gained 66,300 jobs in the 12 months ending September 2011. That represents an increase of 2.6 percent.

Houston Real Estate Milestones in October

Volume of single-family home sales rose for a fifth consecutive month;

Volume of townhouse/condominium sales rose for the fourth straight month;

At $208,506, the average price of a single-family home reached the highest level for an October in Houston;

At $150,000, the median sales price for single-family homes matched its all-time October high set in 2010;

Single-family home rentals rose 24.8 percent;

Townhouse/condominium rentals increased 18.5 percent;

6.6 months inventory of single-family homes is the lowest level since April 2010 and compares favorably to the national average of 8.5 months.

_________________________________________________________________________

The information published and disseminated to the HAR Multiple Listing Services is communicated verbatim, without change by Multiple Listing Services, as filed by MLS participants.

HOUSTON-AREA HOME SALES RISE FOR A FOURTH STRAIGHT MONTH

Sheila — Wed, 02 Nov 2011 17:44:16 +0000

Average and median prices reach September highs; market on “strong footing”

HOUSTON — (October 18, 2011) — Houston temperatures finally cooled a bit in September, but home sales remained hot. Sales of single-family homes climbed nearly 17 percent when compared to one year earlier and accounted for the fourth consecutive month of increased sales volume. The prices of those homes achieved all-time highs for a September in Houston. In addition, months inventory fell to the lowest level since May 2010 while pending sales rose and active listings declined. All are considered signs of a healthy and balanced housing market as the fall season gets underway.

According to the latest monthly data prepared by the Houston Association of REALTORS® (HAR), September sales of single-family homes rose 16.9 percent versus one year earlier. This increase followed home sales gains recorded in January, June, July and August of this year. All segments of the housing market, from the sub-$80,000 to the $500,000 and above, experienced positive sales in September. On a year-to-date basis, sales were up 3.2 percent.

“The combination of increased closed and pending sales, fewer active listings and strong pricing suggests that we are entering the fall home buying season on strong footing,” said Carlos P. Bujosa, HAR chairman and VP at Transwestern. “HAR’s September report shows rebalanced supply and demand throughout the Houston housing market with diminishing traces of the distortions caused by last year’s federal home buyer tax credit.”

The average price of a single-family home ticked up 0.4 percent from September 2010 to $213,334, the highest level for a September in Houston. The September single-family home median price—the figure at which half of the homes sold for more and half sold for less—also reached a September high for the market, rising 1.6 percent to $157,500.

Foreclosure property sales reported in the Multiple Listing Service (MLS) increased 2.4 percent year-over-year in September. Foreclosures comprised 19.4 percent of all property sales, which is consistent with the levels it has maintained each month since May when it was more than 22 percent. The median price of foreclosures in September was flat at $81,900.

September sales of all property types in Houston totaled 5,469, up 15.9 percent compared to September 2010. Total dollar volume for properties sold during the month jumped 16.0 percent to $1.1 billion versus $962 million one year earlier.

September Monthly Market Comparison

The month of September brought Houston’s overall housing market positive results when all sales categories are compared to September of 2010. Sales volume gains showed more normal, seasonal trending after several months in which the data was skewed by the 2010 tax credit that caused a dramatic drop in home sales following its expiration. Total property sales and total dollar volume rose on a year-over-year basis. Both average and median prices climbed to historic levels for a September in Houston.

Month-end pending sales for September totaled 3,120. That is up 3.2 percent from last year and suggests the likelihood of another positive month of sales when the October figures are tallied. The number of available properties, or active listings, at the end of September declined 11.5 percent from September 2010 to 47,812. The inventory of single-family homes was reduced to 6.8 months, its lowest level since May 2010, compared to 7.7 months one year earlier. That means it would take 6.8 months to sell all the single-family homes on the market based on sales activity over the past year. The figure is significantly better than the national inventory of single-family homes of 8.5 months reported by the National Association of REALTORS® (NAR). These indicators all reflect a balanced real estate marketplace for Houston.

The number of available properties, or active listings, at the end of August declined 11.5 percent from August 2010 to 48,752. The inventory of single-family homes was reduced to 7.1 months compared to 7.8 months one year earlier. That means it would take 7.1 months to sell all the single-family homes on the market based on sales activity over the past year. The figure is significantly better than the national inventory of single-family homes of 9.4 months reported by the National Association of REALTORS® (NAR).

CATEGORIES	SEPTEMBER 2010	SEPTEMBER 2011	PERCENT CHANGE
Total property sales	4,720	5,469	15.9%
Total dollar volume	$962,851,241	$1,117,023,816	16.0%
Total active listings	54,027	47,812	-11.5%
Total pending sales	3,023	3,120	3.2%
Single-family home sales	3,965	4,635	16.9%
Single-family average sales price	$212,581	$213,334	0.4%
Single-family median sales price	$155,000	$157,500	1.6%
Months inventory*	7.7	6.8	-11.0%

Single-Family Homes Update

September sales of single-family homes in Houston totaled 4,635, up 16.9 percent from September 2010. This marks the fifth increase of the year following an 8.5 percent gain in January, 1.3 percent rise in June, and 15.2 and 28.3 percent increases in July and August, respectively. On a year-to-date basis, sales are ahead 3.2 percent.

Broken out by segment, September sales of homes priced below $80,000 rose 11.4 percent; sales of homes in the $80,000-$150,000 range climbed 21.8 percent; sales of homes between $150,000 and $250,000 were up 18.7 percent; sales of homes ranging from $250,000-$500,000 jumped 26.8 percent; and sales of homes that make up the luxury market—priced from $500,000 and up—advanced 2.3 percent.

Both average and median price achieved the highest levels ever for a September in Houston. At $213,334, the average price of single-family homes rose 0.4 percent compared to last September. At $157,500, the median sales price for single-family homes edged up 1.6 percent versus September 2010. The national single-family median price reported by NAR is $168,300, illustrating the continued higher value and lower cost of living available to consumers in Houston.

HAR also breaks out the sales performance of existing single-family homes throughout the Houston market. In September 2011, existing home sales totaled 3,880, a 20.0 percent hike from September 2010. The average sales price ticked up 0.4 percent to $201,836 compared to last year and the median sales price of $145,000 reflects an increase of 2.1 percent.

Townhouse/Condominium Update

The number of townhouses and condominiums that sold in September jumped 14.0 percent compared to one year earlier, marking the fourth monthly sales increase of the year. The first was a 14.7 percent rise in January, followed by a 25.3 percent increase in June and 19.2 percent gain in August. In the greater Houston area, 383 units were sold last month versus 336 properties in September 2010.

The average price slid 0.9 percent to $152,275 from September 2010 to September 2011. The median price of a townhouse/condominium edged up 0.9 percent to $115,000.

Lease Property Update

September saw continued elevated demand for lease properties throughout the Houston market. Single-family home rentals rose 17.4 percent compared to one year earlier and year-over-year townhouse/condominium rentals jumped 30.0 percent. HAR has reported for several months that this demand has been largely fueled by steady improvement in local employment numbers, with REALTORS® observing a surge in consumers relocating to Houston from around the U.S. The Texas Workforce Commission recently reported that the Greater Houston area gained 65,000 jobs from August 2010 to August 2011, a 2.6 percent increase.

Houston Real Estate Milestones in September

Volume of single-family home sales rose for the fifth time in 2011, following increases in January, June, July and August;

Volume of townhouse/condominium sales rose for the fourth time in 2011;

At $213,334, the average price of a single-family home reached the highest level for a September in Houston;

At 157,500, the median price of a single-family home reached the highest level for a September in Houston;

Single-family home rentals rose 17.4 percent;

Townhouse/condominium rentals increased 30.0 percent;

6.8 months inventory of single-family homes is the lowest level since May 2010 and compares favorably to the national average of 8.5 months.

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The information published and disseminated to the HAR Multiple Listing Services is communicated verbatim, without change by Multiple Listing Services, as filed by MLS participants.

TEMPERATURES AND THE HOUSTON REAL ESTATE MARKET SIZZLE IN AUGUST

Sheila — Wed, 21 Sep 2011 19:15:59 +0000

MLS Report for August 2011

The third consecutive monthly home sales increase appears more dramatic because of the lingering effects of the 2010 tax credit

HOUSTON — (September 20, 2011) — The mercury wasn’t the only thing that soared in the month of August in Houston. Single-family home sales shot up more than 30 percent when compared to August of last year. However, as has been the case for the past several months, the rosy performance took on added luster as a result of last year’s third quarter slowdown in home sales following expiration of the 2010 tax credit. That credit pushed local real estate transactions that otherwise might have taken place later in the year into the first two quarters of 2010. August marked the third consecutive month of increased sales and the fourth time in 2011 that sales volume entered positive territory.

According to the latest monthly data prepared by the Houston Association of REALTORS® (HAR), August sales of single-family homes climbed 30.2 percent versus one year earlier. This increase follows home sales gains recorded in January, June and July of this year. All segments of the housing market, from the sub-$80,000 to the $500,000 and above, experienced positive sales in August. On a year-to-date basis, sales rose 1.8 percent. Compared to August of 2009, a year with no unusual market influences such as Hurricane Ike in 2008 and the 2010 tax credit, single-family home sales were up 10.4 percent.

“The Houston real estate market’s vital signs appear to be quite healthy as we move from the summer buying season into the fall, but we must remain mindful that we are still comparing 2011 home sales to that period last year when transactions slowed dramatically after the tax credit expired,” said Carlos P. Bujosa, HAR chairman and VP at Transwestern. “It is encouraging to see how well the August numbers stack up against August of 2009, which was the last ‘normal’ year for our housing market.”

The average price of a single-family home rose 0.7 percent from August 2010 to $217,047, the second highest level for an August in Houston. The August single-family home median price—the figure at which half of the homes sold for more and half sold for less—was statistically flat at $159,000.

Foreclosure property sales reported in the Multiple Listing Service (MLS) increased 26.2 percent in August compared to one year earlier, suggesting added interest in investment-related home buying. Foreclosures comprised 19.8 percent of all property sales, which is consistent with the levels it has maintained since May. The median price of August foreclosures declined 5.4 percent to $80,375 on a year-over-year basis.

August sales of all property types in Houston totaled 6,524, up 29.0 percent compared to August 2010. Total dollar volume for properties sold during the month soared 29.4 percent to $1.34 billion versus $1.03 billion one year earlier.

August Monthly Market Comparison

The month of August brought Houston’s overall housing market positive results when all sales categories are compared to August of 2010. However, as HAR has noted for the past several months, sales volume gains were distorted by the 2010 tax credit that resulted in a decline in home sales following its expiration. Total property sales and total dollar volume rose on a year-over-year basis. The average price rose while the median price held steady.

Month-end pending sales for August totaled 3,970, up 21.0 percent from last year. The rate is slightly above levels typically observed during the late summer home sales period, continuing to reflect the rapid pace at which 2010 sales went under contract prior the tax credit closing deadline.

CATEGORIES	AUGUST 2010	AUGUST 2011	PERCENT CHANGE
Total property sales	5,058	6,524	29.0%
Total dollar volume	$1,039,737,400	$1,345,502,442	29.4%
Total active listings	55,079	48,752	-11.5%
Total pending sales	3,281	3,970	21.0%
Single-family home sales	4,257	5,543	30.2%
Single-family average sales price	$215,506	$217,047	0.7%
Single-family median sales price	$158,500	$159,000	0.3%
Months inventory*	7.8	7.1	-8.7%

Single-Family Homes Update

August sales of single-family homes in Houston totaled 5,543, up 30.2 percent from August 2010. This marks the fourth increase of the year after an 8.4 percent gain in January, and 1.1 percent and 14.9 percent increases in June and July, respectively. The August number represents the second highest sales volume month of the year. June was higher with 5,601 homes sold.

On a year-to-date basis, sales are ahead 1.8 percent. When compared to August of 2009, a year in which there were no unusual real estate market effects such as Hurricane Ike in 2008 and the 2010 home buyer tax credit, single-family home sales were up 10.4 percent.

Broken out by segment, August sales of homes priced below $80,000 skyrocketed 45.4 percent; sales of homes in the $80,000-$150,000 range climbed 26.2 percent; sales of homes between $150,000 and $250,000 increased 35.8 percent; sales of homes ranging from $250,000-$500,000 advanced 32.5 percent; and sales of homes that make up the luxury market—priced from $500,000 and up—jumped 22.4 percent.

The average price achieved the second highest level for an August in Houston. At $217,047, the average price of single-family homes rose 0.7 percent compared to last August. The highest August level historically was $222,638 in 2008.

At $159,000, the median sales price for single-family homes was statistically flat versus August 2010 and down fractionally from June and July’s $160,000 level, which was the highest median price of 2011 and the highest level in two years. The national single-family median price reported by NAR is $174,000, illustrating the continued higher value and lower cost of living available to consumers in Houston.

HAR also breaks out the sales performance of existing single-family homes throughout the Houston market. In August 2011, existing home sales totaled 4,720, a 34.4 percent hike from August 2010. The average sales price climbed 1.4 percent to $206,478 compared to last year and the median sales price of $149,000 reflects an increase of 1.0 percent.

Townhouse/Condominium Update

The number of townhouses and condominiums that sold in August jumped 19.5 percent compared to one year earlier, marking the third sales increase of the year. The first was a 14.7 percent rise in January, followed by a 25.3 percent increase in June. In the greater Houston area, 460 units were sold last month versus 385 properties in August 2010.

The average price rose 3.0 percent to $156,522 from August 2010 to August 2011. The median price of a townhouse/condominium dipped 0.8 percent to $120,000.

Lease Property Update

High demand for lease properties persisted throughout the Houston market in the month of August. Single-family home rentals jumped 21.8 percent compared to one year earlier and year-over-year townhouse/condominium rentals rose 23.1 percent. HAR has reported for several months that this demand has been largely driven by steady improvement in local employment numbers, with REALTORS® observing a surge in consumers relocating to Houston from around the U.S.

Houston Real Estate Milestones in August

Volume of single-family home sales rose for the fourth time in 2011, following increases in January, June and July;

Volume of townhouse/condominium sales rose for the third time in 2011;

At $217,047, the average price of a single-family home reached the second highest level for an August in Houston;

Single-family home rentals rose 21.8 percent;

Townhouse/condominium rentals increased 23.1 percent;

7.1 months inventory of single-family homes compares favorably to the national average of 9.4 months.

_________________________________________________________________________

The information published and disseminated to the HAR Multiple Listing Services is communicated verbatim, without change by Multiple Listing Services, as filed by MLS participants.

Staging Tips for Selling Your Home Faster

Sheila — Tue, 30 Aug 2011 18:44:32 +0000

Most experts will tell you that an empty house will not sell as quickly as a house with furniture. However, I don’t think that is exactly true…based on my experience in Fort Bend county…especially in the Sugar Land real estate market. Here’s what my experience has revealed:

A beautifully decorated home will sell faster than a home with ugly or out-of-date furnishings and decorations.
An empty home will sell faster than a home with ugly or out-of-date furnishings and decorations.
A well-staged home will sell faster than an empty home.

Bottom line? If you have unattractive or out-dated furnishings and decorations, then move out first (if possible) and then let me stage your home for you. If you can’t move out first (most people have to sell their current home in order to qualify for a loan on a new home) then let me show you how to declutter, arrange, and decorate your home so that it is attractive to the largest quantity of prospective buyers. My Sugar Land staging services are free of charge to most clients.

Basic Staging Tips

Remove all family photos from the home. Prospective buyers need to visualize their own family in your home…not your family.
Remove all rugs from the floors. Prospective buyers are not buying your rugs…they are buying your floors.
Remove all but three (at the most) items from your kitchen counters. Prospective buyers are buying your cabinets and counters…not your kitchen appliances.
Remove all personal items from your bathroom counters. No one wants to see your toiletries. Put them in baskets and store them inside your cabinets for easy access.
Pack up your collections. I know you are proud of them, but you’re not selling your collections…you’re selling your house. Collections tend to distract prospective buyers from noticing your home. Plus…you don’t want anything to happen to them during showings.
Clean all the windows so they sparkle…and open up all the shades and curtains. Let people see the view outside and let the light in.
Clean the kitchens and baths so they sparkle too. Prospective buyers don’t want to buy a filthy home.
Clean carpets and floors. Prospective buyers don’t want to buy stained floors.
Remove or seal and paint wallpaper…it’s definitely “out” of style these days and prospective buyers think it costs too much to deal with.
Install bright light bulbs in all light fixtures…not higher than that allowed.

Click here for a detailed checklist for getting your home ready to sell.

Below are some examples of my work. Some were empty, and then I staged them with my collection of staging items. Some were lived in, and then I staged them to show at their best. Some were even slightly remodeled and then staged.

By the way, I have totally remodeled several homes, so I can help you with both minor and major projects. The fact is that most buyers want a move-in-ready home, so you should do everything you can to make your home move-in-ready BEFORE you put it on the market.

UNSTAGED		STAGED

HOUSTON HOME SALES RISE AGAIN IN JULY

Sheila — Wed, 17 Aug 2011 17:11:16 +0000

The second consecutive monthly increase is still attributed to slower than usual home sales in 2010 following expiration of the tax credit

HOUSTON — (August 16, 2011) — What do you get when you compare seasonal summer home buying in a single month to the same month a year earlier shortly after a home buyer tax credit expired? If it’s July 2011 in Houston, Texas, it’s a nearly 17 percent increase in home sales. Last year’s third quarter slowdown in home sales continues to make this year’s generally “typical” real estate activity appear slightly more positive than it otherwise would be considered. July marked the third time in 2011 that sales volume entered positive territory. It also saw the average price of a single-family home reach its highest level for a July in Houston.

According to the latest monthly data compiled by the Houston Association of REALTORS® (HAR), July sales of single-family homes rose 16.7 percent versus one year earlier. That third increase of the year followed gains in January and June. All segments of the housing market, from the sub-$80,000 to the $500,000 and above, experienced positive sales. On a year-to-date basis, sales declined 2.2 percent. Compared to July of 2009, a year with no unusual market factors like Hurricane Ike in 2008 and the 2010 tax credit, single-family home sales were down 12.2 percent.

“It is still premature to label this latest increase in home sales a true positive indicator, but with the effects of last year’s tax credit fading and local employment figures strengthening, we should soon have an accurate reading on the Houston real estate market,” said Carlos P. Bujosa, HAR chairman and VP at Transwestern. “I believe the year-to-date and July 2009 comparisons probably yield the most realistic picture of what’s happening locally, and that places Houston in an enviable position when you see how other real estate markets around the country continue to struggle.

The average price of a single-family home rose 0.7 percent from July 2010 to $224,110, an all-time high for a July in Houston and the second highest average price of 2011. The July single-family home median price—the figure at which half of the homes sold for more and half sold for less—increased 0.3 percent year-over-year to $160,000. That is unchanged from June and remains the highest that the median price has been this year.

Foreclosure property sales reported in the Multiple Listing Service (MLS) increased 13.5 percent in July compared to one year earlier. Foreclosures comprised 19.6 percent of all property sales, up slightly from the June level but lower than the first five months of the year. The median price of July foreclosures was unchanged at $84,000 on a year-over-year basis.

July sales of all property types in Houston totaled 5,962, up 17.1 percent compared to July 2010. Total dollar volume for properties sold during the month increased 18.7 percent to $1.27 billion versus $1.07 billion one year earlier.

July Monthly Market Comparison

The month of July brought Houston’s overall housing market largely positive results when all sales categories are compared to July of 2010. However, as has been noted for the past few months, sales volume gains were skewed by the 2010 tax credit that resulted in a decline in home sales after it expired. Total property sales and total dollar volume rose on a year-over-year basis. The average price reached a record high for a July in Houston and the median price edged up year-over-year.

Month-end pending sales for July totaled 3,659, up 12.0 percent from last year. The rate is moving more in line with levels typically seen during the summer home sales months, but still reflects the rapid pace at which 2010 sales went under contract in advance of the tax credit closing deadline.

The number of available properties, or active listings, at the end of July declined 9.5 percent from July 2010 to 50,022. The inventory of single-family homes dipped to 7.6 months compared to 7.7 months one year earlier. That means that it would take 7.6 months to sell all the single-family homes on the market based on sales activity over the past year. The figure is significantly better than the national inventory of single-family homes of 9.5 months reported by the National Association of REALTORS® (NAR).

CATEGORIES	JULY 2010	JULY 2011	PERCENT CHANGE
Total property sales	5,091	5,962	17.1%
Total dollar volume	$1,070,466,812	$1,270,258,331	18.7%
Total active listings	55,247	50,022	-9.5%
Total pending sales	3,267	3,659	12.0%
Single-family home sales	4,313	5,034	16.7%
Single-family average sales price	$222,534	$224,110	0.7%
Single-family median sales price	$159,490	$160,000	0.3%
Months inventory*	7.7	7.6	-1.8%

Single-Family Homes Update

July sales of single-family homes in Houston totaled 5,034, up 16.7 percent from July 2010. This marks the third increase of the year after an 8.4 percent gain in January and 0.5 percent bump in June. The July number represents the second highest sales volume month of the year. June was higher with 5,570 homes sold.

On a year-to-date basis, sales are down 2.2 percent. When compared to July of 2009, a year in which there were no unusual real estate market influences such as Hurricane Ike in 2008 and the 2010 home buyer tax credit, single-family home sales were down 12.2 percent.

Broken out by segment, July sales of homes priced below $80,000 rose 15.8 percent; sales of homes in the $80,000-$150,000 range climbed 17.7 percent; sales of homes between $150,000 and $250,000 increased 18.5 percent; sales of homes ranging from $250,000-$500,000 advanced 13.7 percent; and sales of homes that make up the luxury market—priced from $500,000 and up—soared 25.7 percent.

The average price achieved the highest level for a July in Houston. At $224,110, the average price of single-family homes rose 0.7 percent compared to last July. At $160,000, the median sales price for single-family homes edged up 0.3 percent versus July 2010, remaining flat from June at $160,000, the highest median price of 2011 and the highest level in two years. The national single-family median price reported by NAR is $184,600, illustrating the continued higher value and lower cost of living available to consumers in Houston.

HAR also breaks out the sales performance of existing single-family homes throughout the Houston market. In July 2011, existing home sales totaled 4,341, a 22.0 percent increase from July 2010. The average sales price climbed 3.3 percent to $212,895 compared to last year and the median sales price of $150,000 was unchanged.

Townhouse/Condominium Update

The number of townhouses and condominiums that sold in July jumped 26.7 percent compared to one year earlier, marking the second sales increase of the year. The first was a 14.7 percent hike in January. In the greater Houston area, 460 units were sold last month versus 363 properties in July 2010.

The average price rose 3.8 percent to $156,754 from July 2010 to July 2011. The median price of a townhouse/condominium ticked up 1.7 percent to $121,000.

Lease Property Update

The Houston market experienced continued high demand for lease properties in the month of July. Single-family home rentals jumped 21.6 percent compared to one year earlier and year-over-year townhouse/condominium rentals rose 7.7 percent. This demand has been largely driven by steady improvement in local employment numbers, with REALTORS® observing a surge in consumers relocating to Houston from around the country.

Houston Real Estate Milestones in July

Volume of single-family home sales rose for the third time in 2011;

Volume of townhouse/condominium sales rose for the second time in 2011;

At $224,110, the average price of a single-family home reached the highest level for a July in Houston;

At $160,000, the median price of a single-family home remained flat from June, maintaining the highest level of 2011 and the highest level in two years;

Townhouse/condominium sales rose for the second time in 2011;

Single-family home rentals rose 21.6 percent;

Townhouse/condominium rentals increased 7.7 percent;

7.6 months inventory of single-family homes compares favorably to the national average of 9.5 months.

The computerized Multiple Listing Service of the Houston Association of REALTORS® includes residential properties and new homes listed byREALTORS® throughout Harris, Fort Bend and Montgomery counties, as well as parts of Brazoria, Galveston, Waller and Wharton counties. Residential home sales statistics as well as listing information for more than 50,000 properties may be found on the Internet at http://www.har.com.

The information published and disseminated to the HAR Multiple Listing Services is communicated verbatim, without change by Multiple Listing Services, as filed by MLS participants.

HOUSTON HOME PRICES REACH A RECORD HIGH IN JUNE 2011

Sheila — Wed, 20 Jul 2011 15:37:51 +0000

Home sales increase for the second time this year

HOUSTON — (July 19, 2011) — Houston home sales rose for the second time this year in June, with the average price reaching an all-time high and the median price achieving the highest level in nearly two years. The sales increase reflects the slowdown in home purchases that set in a year ago following expiration of the home buyer tax credit. The credit triggered a surge in home buying during the spring of 2010 that resulted in slower sales volume during the remainder of that year.

According to the latest monthly data compiled by the Houston Association of REALTORS® (HAR), June sales of single-family homes edged up 0.6 percent versus one year earlier. That represents the first increase since January when sales volume rose 8.4 percent. The under-$80,000 segment of the market as well as homes priced from $250,000 and above experienced increased sales while the popular middle range, consisting of homes priced between $80,000 and $250,000, saw declines. Compared to June of 2009, a year with no unusual market factors such as Hurricane Ike in 2008 and the 2010 tax credit, single-family home sales were up 2.7 percent.

“We see the effects of the 2010 tax credit in the June Houston real estate market report in the form of a drop-off in sales that took place a year ago once the credit expired,” said Carlos P. Bujosa, HAR chairman and VP at Transwestern. “We expect these credit-skewed readings to taper soon, providing us with a more accurate gauge of market performance, but in the meantime, we are thrilled to see sustained home price appreciation.”

The average price of a single-family home rose 3.7 percent from June 2010 to a record high of $228,650. The June single-family home median price—the figure at which half of the homes sold for more and half sold for less—increased 2.2 percent year-over-year to $161,000. That is the highest median price since July 2009. Foreclosure property sales reported in the Multiple Listing Service (MLS) decreased 3.2 percent in June compared to one year earlier.

Foreclosures comprised 18.7 percent of all property sales, down from 19.8 percent in May, 22.0 percent in April and 23.5 percent in March. The median price of June foreclosures declined 7.5 percent to $81,000 on a year-over-year basis.

June sales of all property types in Houston totaled 6,520, down 0.2 percent compared to June 2010. Total dollar volume for properties sold during the month increased 3.3 percent to $1.43 billion versus $1.38 billion one year earlier.

June Monthly Market Comparison

The month of June brought Houston’s overall housing market largely positive results when all sales categories are compared to June of 2010. However sales volume gains for the month were skewed by the 2010 tax credit that affected a decline in home sales one year ago after it expired. Total property sales declined fractionally while total dollar volume rose on a year-over-year basis. The average price reached a record high while the median price recorded its highest level since July 2009.

Month-end pending sales for June totaled 3,872, up 18.3 percent from last year. While not as high as the 35.4 percent increase recorded in May, the rate is considered higher than what is typically seen this time of year and is considered an ongoing reflection of the rapid pace at which 2010 sales went under contract in advance of the tax credit closing deadline.

The number of available properties, or active listings, at the end of June dipped 4.8 percent from June 2010 to 51,342. The inventory of single-family homes rose to 7.9 months compared to 7.3 months one year earlier. That means that it would take 7.9 months to sell all the single-family homes on the market based on sales activity over the past year. The figure still compares favorably to the national inventory of single-family homes of 9.3 months reported by the National Association of REALTORS® (NAR).

Single-Family Homes Update

June sales of single-family homes in Houston totaled 5,571, up 0.6 percent from June 2010. This marks the first increase since January when sales volume rose 8.4 percent. The June number represents the greatest monthly volume of single-family homes recorded in Houston since May 2010.

When compared to June of 2009, a year in which there were no unusual real estate market influences such as Hurricane Ike in 2008 and the home buyer tax credit in 2010, single-family home sales were up 2.7 percent. On a year-to-date basis, sales are down 5.4 percent.

Broken out by segment, June sales of homes priced below $80,000 climbed 19.8 percent; sales of homes in the $80,000-$150,000 range dropped 11.6 percent; sales of homes between $150,000 and $250,000 dipped 0.7 percent; sales of homes ranging from $250,000-$500,000 rose 3.8 percent; and sales of homes that make up the luxury market—priced from $500,000 and up—increased 1.5 percent.

The average price achieved the highest level of all time in Houston while the median price reached the highest level since July 2009. At $228,650, the average price of single-family homes edged up 0.6 percent in June compared to one year earlier. At $161,000, the median sales price for single-family homes increased 2.2 percent versus June 2010. The national single-family median price reported by NAR is $166,700, illustrating the continued higher value and lower cost of living available to consumers in Houston.

HAR also breaks out the sales performance of existing single-family homes throughout the Houston market. In June 2011, existing home sales totaled 4,811, a 4.7 percent increase from June 2010. The average sales price climbed 5.2 percent to $219,000 compared to last year and the median sales price of $152,000 rose 3.5 percent.

Townhouse/Condominium Update

The number of townhouses and condominiums that sold in June declined 8.6 percent compared to one year earlier. That became the fifth straight monthly sales decline for this housing type following a 14.7 percent hike in January. In the greater Houston area, 470 units were sold last month versus 514 properties in June 2010.

The average price climbed 9.2 percent to $175,958 from June 2010 to June 2011. The median price of a townhouse/condominium declined 6.0 percent to $126,500.

Lease Property Update

Demand for single-family home rentals continued to soar in the month of June, rising 19.2 percent compared to one year earlier. Year-over-year townhouse/condominium rentals jumped 19.5 percent. This demand has been largely driven by Houston’s steadily improving employment landscape which has drawn consumers from around the country. According to the Federal Reserve Bank of Dallas’ latest economic update for Houston, nonfarm payroll employment grew at an annualized rate of more than 3.2 percent in May to more than 2.57 million jobs. This brings the number of jobs added since the trough of Houston’s business cycle to more than 81,600. Year-to-date, the average annualized monthly growth rate was 3.3 percent. Should that pace continue in the second half of 2011, Houston will have added nearly 84,000 jobs this year. The unemployment rate improved slightly to 8.4 percent, while the U.S. clocked in at 9.2 percent.

Houston Real Estate Milestones in June

Volume of single-family home sales rose for the second time in 2011;
Sales of 5,571 single-family homes represents the highest monthly volume recorded since May 2010;
At $228,650, the average price of a single-family home reached the highest level of all time;
At $161,000, the median price of a single-family home reached the highest level since July 2009;
Single-family home rentals rose 19.2 percent;
Townhouse/condominium rentals increased 19.5 percent;
7.9 months inventory of single-family homes compares favorably to the national average of 9.3 months.

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The computerized Multiple Listing Service of the Houston Association of REALTORS® includes residential properties and new homes listed by 26,000 REALTORS® throughout Harris, Fort Bend and Montgomery counties, as well as parts of Brazoria, Galveston, Waller and Wharton counties. Residential home sales statistics as well as listing information for more than 50,000 properties may be found on the Internet at http://www.har.com.

The information published and disseminated to the HAR Multiple Listing Services is communicated verbatim, without change by Multiple

Listing Services, as filed by MLS participants.

Founded in 1918, the Houston Association of REALTORS® (HAR) is a 26,000-member organization of real estate professionals engaged in every aspect of the industry, including residential and commercial sales and leasing, appraisal, property management and counseling. It is the largest individual dues-paying membership trade association in Houston as well as the second largest local association/board of REALTORS® in the United States.