|April 2001 Sales|
|Houston's Real Estate Market Kicks Off Homebuying Season with a Record Start|
|Totals Sales and Median Price Reach All-Time Highs|
HOUSTON (May 21, 2001) Houstons home-buying season opened with a bang as all-time highs were reported for both total
sales and median prices for the month of April, according to statistics released today by the Houston Association of
Realtors Multiple Listing Service. Due to low interest rates, Houston recorded the best April ever with total sales of
existing homes jumping to 4,919. The median price of single-family homes increased to $125,500, marking this as the
highest-ever-recorded median price.Total sales of existing homes for the month of April increased 7.2 percent from
4,589 in April 2000 to this years 4,919. Aprils total sales represent a 69.1 percent jump since January 2001.
Single-family existing homes spent 81 days on the market, slightly longer than last April, which recorded 74 days on
the market. A combination of the high median price and high volume of sales led to the total dollar volume closing last
month at $765,059,014, an increase of 14.6 percent compared to last Aprils total of $667,848,330.
"Low interest rates and a booming Houston economy are keeping us ahead of last years pace, said Todd Mason, chairman of the Houston Association of Realtors. The increase in total home sales demonstrates that home-buying season is beginning and the Houston real estate market is keeping pace with the rest of America. Additionally, even though the median price reached a record high, Houston Realtors are teaching consumers how to navigate the Houston real estate market and utilize the low interest rates to save money in the long run. Buyers opened 3,872 contracts in April, an increase of 5.0 percent from April 2000. Open contracts, also referred to as pending sales, are a traditional indicator of closed sales 30 to 60 days ahead. Aprils available inventory rose to 28,153, up from 27,272 in March, representing a 15.5 percent increase in the number of active listings compared to 24,375 for the same month last year.
High-Rise Properties, Townhouse/Condo and Country Homes Update
HARMLS reported a 63.3 percent increase in the total sales of high-rise properties in April, growing from 30 sales in April 2000 to 49 last month. The median price for high-rise properties in April rose 6.8 percent to $193,030 from last years $180,750. The townhouse/condominium market showed an increase of 19.1 percent in total number of homes sold, reporting 505 last month compared to last April where sales reached only 424 units sold. The median price decreased slightly by 1.2 percent to $80,000 compared to April 2000s price of $80,950. Country homes rose significantly in median price by 23 percent from $113,860 last April to $140,000 this year. Total sales for country homes also showed a significant increase of 24 percent from 25 last April to 31 this year.
Top MLS Areas in April
Among the MLS areas experiencing significant increases in median price in April over last year were:
The computerized Multiple Listing Service of the Houston Association of Realtors includes residential properties and
new homes listed by 11,000 Realtors throughout Harris, Fort Bend and Montgomery counties, as well as 28 surrounding
counties, including Brazoria, Galveston, Waller and Wharton counties. The Houston Association of Realtors is the
largest trade association in Houston and the largest local Realtor association in the nation. Residential home sales
statistics as well as listing information for more than 25,000 homes can be found on the Internet at https://www.HAR.com.
The information published and disseminated to the HAR Multiple Listing Service (MLS) is communicated verbatim, without change by MLS, as filed by MLS participants. The MLS does not verify the information provided and disclaims any responsibility for its accuracy. All MLS data is preliminary and subject to change. Monthly sales figures reported since August 1998 include 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 January 1988.)