Multiple Listing Service of the Houston Association of REALTORS® includes residential properties and new homes listed by 47,000 REALTORS®
|April 2005 Sales|
|Summer Home Buying and Selling Gets Early Start in Houston|
|Number of Active Listings Reach All-Time High, as Plenty of Home Options Available|
HOUSTON (May 20, 2005) The greater Houston area saw an early bump in home sales as a higher than usual number of
properties changed hands during April, which saw a new record for the number of sales in the month, according to
statistics released by the Houston Association of REALTORS® Multiple Listing Service. Home sales normally accelerate in
the spring, with June, July and August then being the most active. Additionally, year-over-year comparisons show that
both average and median sales prices for a single-family homes, total number of properties sold, total number of
pending sales, total dollar volume of transactions and number of new listings for single-family homes were all monthly
Total property sales for the month totaled 6,681, which was a 4.7 percent increase over April 2004. Almost $1.2 billion worth of properties was sold during the month, which was a 9.4 percent increase compared to last years near $1.1 billion in April sales. Additionally, year-to-date total property sales reached 21,987, which is an increase of 4.2 percent over the first four months of 2004.
While many other markets around the country have seen enormous increases in real estate sales prices, Houston has experienced many years of slow and steady growth, which will assist current homeowners in maintaining the value of their property, while still providing affordable options for those looking to purchase a home, said Toni C. Nelson, HAR Chair and a Division Vice President for Coldwell Banker United, REALTORS®. "The availability of homes in the Houston region hitting an all-time record, along with monthly record sales figures, shows that the housing market is luckily staying in equilibrium.
April Monthly Market Comparison
All listing categories combined, Houstons overall housing market in April experienced increases across the board including total property sales, average sales prices, median sales price, 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.
The number of available homes (active listings) at the end of April was 44,144 properties, which was an increase of 8.0 percent versus last April and a new all-time record. Month-end pending sales of properties reached 5,141, which was up 15.0 percent from last year, and was also an all-time record high. The months inventory of single-family homes for April was down slightly at 6.2 months, which remains low and shows that demand is keeping up with the available supply of homes.
|* Months inventory estimates the number of months it will take to deplete current active inventory based on the prior 12 months sales activity. This figure is representative of the single-family homes market.|
Single-family Homes Update
The overall median price of single-family homes reached $136,980 in April, which was an increase of 1.5 percent compared to the prior year, and the average price for single-family homes reached $188,087, which was up 6.5 percent versus the same period last year. The median is a typical market price where half of the homes sold for more and half sold for less than that figure.
Houstons current median price of $136,980 is 29.2 percent less than the national median price, which reached $193,600 in March, 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 in Houston increased by 4.9 percent to 5,495 in April, up from last years 5,237.
The overall median price in the townhouse/condo segment in Houston decreased slightly by 1.3 percent from $111,500 in April 2004 to $110,000 last month. The average sales price for which a townhouse or condo sold in the greater Houston area was $146,560 in April 2005, which was a 2.4 percent increase from the same month last year.
Additionally, the number of townhouses and condos that sold in April were relatively flat compared to last years sales, with 614 units being sold last month, versus 615 properties in April 2004. In the first four months of 2005, 1,991 townhouse/condos have sold, which was a 0.5 percent increase compared to the 1,981 units sold in the first four months of 2004.
Houston Real Estate Milestones in April
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.