Multiple Listing Service of the Houston Association of REALTORS® includes residential properties and new homes listed by 47,000 REALTORS®
|September 2004 Sales|
|Houston Housing Sales Maintain a Record Page Into the Fall|
|Month Still Marks Highest September Sales Ever; Remain on Course for Record-Breaking Year|
HOUSTON (October 21, 2004) Houstons residential housing market maintained a record pace following alltime high
summer sales, according to statistics released today by the Houston Association of REALTORS® Multiple Listing Service.
Total property sales for September reached 5,896, which once again represented the highest number of sales ever
recorded in the month of September.
Additionally, year-to-date existing-home sales continue to rise ahead of last years record-setting pace, with 54,729 listings sold so far this year, a gain of more than 10 percent from the same period last year. Year-to-date existing property sales through September 2003 totaled 49,580.
The summer is always the most active period for home sales so we anticipate a seasonal dip in sales from August to September. This is expected though as people settle into their fall routines and children return to school, said HAR Chairman and Stewart Title Chief Economist Ted C. Jones, Ph.D. September sales were still outstanding, with more than $1 billion worth of residential property changing hands. It has become commonplace for Houston to sell in that range, but it is still an enormous number for the industry. Houstons housing market is still as strong as ever and looks to continue through yearend.
All listing categories combined, Houstons overall market experienced an increase across the board including sales, available inventory, pending sales those listings expected to close within the next 30 days and overall total dollar volume on a year-over-year basis. Months inventory of single-family homes rose slightly from 6.1 months last year to 6.4 months in September 2004.
|* Months inventory estimates the number of months it will take to deplete current active inventory based on the prior twelve months sales activity. This figure is representative of the single-family homes market.|
Single-family Homes Update
The median price of single-family homes reached $134,900 in September, remaining unchanged from last year, which is the highest median price ever recorded in the month of September in Houston. The median is a typical market price where half of the homes sold for more and half sold for less that that figure.
Houstons current median price of $134,900 is 29.0 percent less than the national median price, which reached $190,100 in August, according to statistics released by the National Association of REALTORS®. These data continue to show the tremendous value and lower cost of living afforded to Houstonians.
Additionally, total sales for single-family homes increased by 2.9 percent to 4,903 from last years 4,764.
Houston Real Estate Milestones in September
The computerized Multiple Listing Service of the Houston Association of REALTORS® includes residential properties
and new homes listed by 19,000 REALTORS throughout Harris, Fort Bend and Montgomery counties, as well as parts of
Brazoria, Galveston, Waller and Wharton counties. Residential home sales statistics as well as listing information for
more than 40,000 properties can be found on the Internet at https://www.har.com.
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 includes 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.)
Founded in 1918, the Houston Association of REALTORS® (HAR) is a 20,000-member organization of real estate professionals engaged in every aspect of the industry, including residential and commercial sales and leasing, appraisal, property management and counseling. It is the largest individual membership trade association in Houston, as well as the second largest local association/board of REALTORS® in the United States.