Multiple Listing Service of the Houston Association of REALTORS® includes residential properties and new homes listed by 47,000 REALTORS®
|Annual Statistics 2001|
|2001 Home Sales Remain Solid Despite Local and National Tragedies|
|Total Sales and Total Dollar Volume Reach All-Time Highs|
HOUSTON (January 16, 2002) - The Houston real-estate market remained strong throughout 2001, resulting in the greatest
amount of homes ever sold in one year, according to the Houston Association of Realtors'® Realtor Information Service.
Total number of listings closed in 2001 slightly surpassed last year's record figure of 55,514 by 2.6 percent, closing the year with a new, all-time high of 56,980. The median price for single-family homes in 2001 was $125,000, representing an increase of 6.8 percent over the previous year's figure of $117,000. Record high prices and sales totals translated into a total dollar volume for 2001 of approximately $8.8 billion, an increase of 6 percent from last year's total of $8.3 billion.
"Many people in Houston believed our real estate market would slow down after the tragic events our city and nation have endured this year, however, those predictions simply never materialized," said Shad Bogany, 2002 Chairman of the Board of the Houston Association of Realtors. "Our numbers have remained resilient despite the floods in June, the terrorist attack in September as well as the nation's current economic recession."
Available inventory and days on market also experienced significant changes throughout 2001. The year began with an available inventory of 25,739 active listings.
Figures increased steadily throughout the year, however, peaking at 29,625 in September, before finishing in December at 26,583.
The days that single-family homes spent on the market in 2001 moved from 87 in January to 84 days in December, including a low of 75 days in July. For the year, the average number of days on the market equaled 80, representing an increase from the yearly average of 74 in 2000.
High-Rise Properties, Townhomes/Condos and Country Homes Update
In 2001, Realtors sold 5,726 townhomes and condominiums, representing a 7.6 percent increase over 2000, and sold at a median price of $78,550, up from $73,500 a year ago.
High rise and loft sales decreased slightly this year. Sales dipped from 458 in 2000 to 415 this past year, a decrease of 9.4 percent. The median price of high-rise residences also decreased, finishing 2001 at $208,000, representing a 20 percent decrease compare to last year.
Residential lot sales decreased slightly in 2001 to 2,840 lots sold, compared to 2,848 lots sold in 2000. Similarly, multi-family property sales decreased in 2001 to 271 from 304 sales in 2000.
December Sales Stay Strong
Single-month statistics show that 4,396 listings were sold in December 2001, an increase of 6.5 percent compared to the previous December. The median price for single-family homes in December was $130,000, representing a 5 percent increase in median price from the same month the previous year. Total dollar volume of $706,575,269 for all property classes last month showed a significant increase of 9.3 percent compared to December 2000.
There were 2,629 pending sales in December, increasing slightly when compared to the same month last year at 2,610.
The HARRIS also reported the median price for townhomes and condominiums in the Houston area during December was $82,220 while the median price for high rise residences was $241,000.
The computerized Realtor Information Services of the Houston Association of Realtors includes residential properties
and new homes listed by 16,000 Realtors throughout Harris, Fort Bend and Montgomery counties, as well as parts of
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 listings can be found on the Internet at https://www.HAR.com.
The information published and disseminated to the HAR Realtor Information Services is communicated verbatim, without change by Realtor Information Services, as filed by Realtor Information Services participants. The Realtor Information Services does not verify the information provided and disclaims any responsibility for its accuracy. All Realtor Information Services 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 January 1988.)