The Houston Housing Market continues to show strength in pricing. However, the Houston Homes Market posted declines in the number of homes sold with July of 2008 posting 5,885 total closed sales compared to July of 2007 which posted 6,856 Houston Homes sales. These numbers show a slight improvement over June of 2008 on a percentage basis, as July posted a 14.2 percent decrease in Houston Single Family Home sales on a year over year basis, while June showed a decrease of 14.7 percent on a year over year basis. This trend has again increased Houston Housing Inventory now pushing 6.9 months with a total of 36,287 active Single Family homes on the market.
Total Breakdown of Activity For The Houston Housing Market
|
Months of Inventory |
Sold Data - Prev. 1 Year |
Current Active Data |
||
|
Number Sold |
Average Price |
Number Active |
Average Price |
|
|
6.9 |
62,831 |
$210,556 |
36,287 |
$271,780 |
Houston Housing Inventory shows differing trends amongst different price points in the Houston Homes Market. Houston Homes sales have actually increased in the price point below $80,000 leading to decreased inventory sitting at just 5 months. The previously troubled Houston Homes Market price point of $80,000-$150,000 is beginning to show stabilization at 6.4 months of inventory. The greatest surprise amongst Houston Housing Inventory is that of the $300,000 plus price point. While this Houston Single Family Homes Market price point had been the shining star of the Houston Housing Market over last year, more recently, it shows a softening as the inventory levels pushed up to 9.6 months.
Houston Homes Market Breakdown For 80,000 And Below
|
Months of Inventory |
Sold Data - Prev. 1 Year |
Current Active Data |
||
|
Number Sold |
Average Price |
Number Active |
Average Price |
|
|
5 |
7,325 |
$55,543 |
3,060 |
$62,065 |
Houston Homes Market Breakdown For 80,000-150,000 Price Range
|
Months of Inventory |
Sold Data - Prev. 1 Year |
Current Active Data |
||
|
Number Sold |
Average Price |
Number Active |
Average Price |
|
|
6.4 |
22,353 |
$115,394 |
12,007 |
$117,994 |
Houston Homes Market Breakdown For 150,000-300,000 Price Range
|
Months of Inventory |
Sold Data - Prev. 1 Year |
Current Active Data |
||
|
Number Sold |
Average Price |
Number Active |
Average Price |
|
|
6.8 |
22,964 |
$199,496 |
13,056 |
$209,730 |
Houston Homes Market Breakdown For 300,000 And Above
|
Months of Inventory |
Sold Data - Prev. 1 Year |
Current Active Data |
||
|
Number Sold |
Average Price |
Number Active |
Average Price |
|
|
9.6 |
10,514 |
$542,333 |
8,401 |
$660,253 |
Information contained in this post was acquired from the Houston Association of Realtors via the multiple listing service data base and archive. Data should be considered reliable but is not guaranteed to be accurate.
