Humble Housing Market
This Humble housing market post has been written to provide real-time market statistics for the Humble real estate market. The charts below are plotted with real-time data for the area’s active listing inventory. You will find graphs for the following market statistics: average days on market, median home price, housing inventory, and a market activity index.
Humble Median Home Price
The chart above is a 12 month moving average of the median list price of homes in the Humble real estate market. The graph above should not be used as a direct indicator of home prices, but rather as an indicator of the direction that home prices for the Humble market are moving. This is because the data being used to produce the charts is not of sold homes, and homes in this market environment are selling for less than list price.
Humble Total Active Listing Inventory
The chart in the above graph is a 12 month moving average of the Humble housing market’s total active listing inventory. The chart should be used as a leading indicator of future time on market and expected scarcity.
Humble Average Days On Market
The chart in the above graph is a 12 month moving average of the average time on market of active listings. The information in the graph should not be used as an immediate indicator of the average time it takes to sell a home, but rather the direction the market is headed for time on market. The reason I say this is the data used for the graph is active listing data and not sold data. With this being the case, the average time on market will be skewed up from that for sold properties. This is because it includes overpriced homes and listings of unmotivated sellers.
Humble Real Estate Market Activity Index
The chart above is a 12 month moving average of a market activity indexed developed by Altos Research. It is intended to be an indicator of whether the local market conditions are that of a seller’s market or a buyer’s market. A value of 20 or greater for this indicator describes a seller’s market, where sellers have the upper hand when it comes to negotiations on price and terms of a contract for sale. A value less than 20 for the Humble market is considered a buyer’s market, where buyers have an advantage when it comes to negotiations.
December 4th, 2009 at 12:40 am
I love your graphs, where do you get them at? I can see your market is slowing down, but all markets usually slow down in the winter. Hopefully those squiggly lines will start to rise again in the spring.
December 7th, 2009 at 9:19 pm
Love the Altos map, how does it feel on the ground? Is it a strong buyers market acroos the whole market? How is the over 1M market? Charlotte over $1M is getting crushed. Terry McDonald
December 16th, 2009 at 9:10 pm
The numbers explain a different market place than what most of us feel working in it. What I note is a place where so many listings are just way over priced and the sellers could care less if they get sold or not. Then we have a number of homes priced just right with a bunch of foreclosures mixed in. The well priced homes and foreclosures that are in good shape sell fast and remind me of the recent sellers market. The others likely will never get sold.
The luxury market has picked up a bit here recently but it is still really tough for sellers with homes priced above a million.
December 16th, 2009 at 9:11 pm
You can get the graphs from Altos research. They have them for a number of markets across the country.
Winter gets very slow for us in Houston as it tends to be very family centric. Although things are looking alot better for us this winter than last.
January 9th, 2010 at 1:49 pm
I like the graphs as well. First time visiting your blog and I have to say that I like the layout. Great post and lets hope for a great year in real estate for 2010.