Multiple Listing Service of the Houston Association of REALTORS® includes residential properties and new homes listed by 47,000 REALTORS®
|September 2000 Sales|
|Third Quarter Existing Homes Sales Figures Account for Record-Setting
Houston Association of Realtors Reports More Than 42,000 Sales to Date
HOUSTON (October 11, 2000) According to statistics released today by the Houston Association of Realtors
Multiple Listing Service (HARMLS), existing home sales figures remain ahead of last years record-setting pace.
Total sales reached the second highest amount ever recorded for the month of September peaking at 4,440, which is
slightly lower than last Septembers standing record of 4,495. The median price of single-family existing homes
remained steady, accounting for the third-highest amount ever recorded at $119,600.
With 4,440 total sales closed in September, and 42,600 closed through the third quarter, 2000 year-to-date, existing home sales are slightly ahead of last years record-setting figures by a slim margin of 0.3 percent. Total sales through the third quarter of 1999 equaled 42,491.
"As the third quarter comes to a close, existing home sales continue to keep up an incredible pace in comparison to last years record-setting numbers," said Frankie Jefferson, madam chairman of the Houston Association of Realtors board of directors. "Despite the recent dip in total sales, Houstons real estate market has remained consistently strong across the board in terms of sales, pricing and inventory. The next couple of months will determine how this exciting year will finish."
The Houston Association of Realtors reported that 15,014 homes alone were sold in the third quarter of 2000 resulting in a significant decrease from third quarter 1999, which saw 15,556 homes sold. However, the total dollar volume for the third quarter of 2000 amassed more than $2.28 billion, representing a 7.3 percent increase over third quarter 1999.
Throughout the third quarter of 2000, the median price of single-family existing homes decreased 1.9 percent from $121,900 in July to $119,600 in September. Julys figure is the second highest ever recorded in Houston. The median price means that half the homes sold for more, half for less.
Inventory increased slightly from July to September, while the average number of days on the market for single-family existing homes also rose from 66 days to 72 days.
September Home Sales Post Steady Figures
The 4,440 homes sold in September comes second only to last Septembers figure, representing a 1.2 percent decrease over last September, which saw 4,495 total sales. September sales contributed $678,010,395 to the total dollar volume for the quarter.
Septembers median price of $119,600 represents the third highest ever recorded, indicating an increase of 12.8 percent compared to last Septembers median price of $106,000.
Buyers opened 3,242 contracts last month, a slight decrease from September 1999. Open contracts, also referred to as pending sales, are a traditional indicator of closed sales 30 to 60 days ahead.
Available inventory in September dipped to 26,494, down slightly from Augusts 26,508, however, this represents a 10.7 percent increase in active listings compared to 23,926 for September 1999.
High Rise Properties, Townhomes/Condos and Country Homes Update
HARMLS reported a dramatic increase in the median price for high rise properties for September, rising 62.4 percent to $304,500 from last years $187,500. High rise sales also increased to 42 in September compared to 33 in the same month last year.
Townhome/condominium figures also rose last month with 475 sales and a median price of $72,500 compared to September 1999s totals of 471 and $69,000, respectively. The median price of country homes dropped considerably by nearly 35 percent from $147,450 last September to $96,000 this year. As a result, sales increased from 24 in September 1999 to 29 last month.
The computerized Multiple Listing Service of the Houston Association of Realtors includes residential properties
and new homes listed by more than 17,000 Realtors throughout Harris, Fort Bend and Montgomery counties, as well as
parts of Brazoria, Galveston, Waller and Wharton counties. For specific questions regarding a certain area, contact
your Realtor. 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 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 February 1988.)
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 34,000 listings can be found on the Internet at https://www.HAR.com.