Multiple Listing Service of the Houston Association of REALTORS® includes residential properties and new homes listed by 47,000 REALTORS®
|MLS Report for June 2009|
Houston Home Sales Show Continued Strengthening in June
Median price of a single-family home reaches all-time high
HOUSTON (July 21, 2009) Sales of single-family homes for the greater Houston area continued to improve in June, with the highest volume recorded since August 2008 and the highest median price in history. This comes despite a year-over-year decline in overall property sales of 15.0 percent and 13.5 percent for single-family homes, according to new monthly data compiled by the Houston Association of REALTORS® (HAR).
At $164,500, the June single-family home median price the figure at which half of the homes sold for more and half sold for less rose 2.8 percent from one year earlier to reach an all-time high. The average price of a single-family home in Houston dipped 2.4 percent last month to $221,783 compared to June 2008. That represents the highest average price since August 2008.
Month-end pending salesthose listings expected to close within the next 30 daystotaled 3,896, which was 12.6 percent lower than last year and portends another decline in sales when Julys numbers are tallied. The months inventory of single-family homes for June came in at 6.4 months, down from 6.7 months one year earlier. The national months inventory of single-family homes fell slightly to 9.6 months, according to the National Association of REALTORS® (NAR).
|* 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.|
June sales of single-family homes in Houston totaled 5,422, down 13.5 percent from June 2008, and accounted for the 22nd consecutive monthly drop. However, that volume is the highest since August 2008. Year-over-year sales of single-family homes priced at $80,000 and below declined 7.2 percent in June, reflecting tapering transactions involving distressed properties.
HAR also reports existing home statistics for the single-family home segment of the real estate market. In June 2009, existing single-family home sales totaled 4,685, a 10.4 percent decrease from June 2008. At $156,000, the median sales price for existing homes in the Houston area rose 2.3 percent compared to last year. The average sales price of $208,036 for the month was down 1.1 percent from one year earlier.
The median price of a townhouse/condominium rose to the second highest level ever $144,500, up 6.3 percent from one year earlier. The average price declined 4.0 percent to $171,007 from June 2008 to June 2009.
Lease Property Update
Houston Real Estate Milestones in June
At $164,500, the median price of a single-family home reached a record high;
At $221,783, the average price of a single-family home rose to its highest level since August 2008;
At $144,500, the median price of a townhouse/condominium was the second highest level ever;
Volume of single-family home sales reached the highest level since August 2008;
Volume of townhouse/condominium sales reached the highest level since August 2008;
Single-family home rentals rose 3.2 percent while rentals of townhouse and condominium units increased 8.7 percent;
Months inventory of single-family homes dipped from 6.7 to 6.4 months compared to the national average of 9.6 months;
Active listings fell 14.5 percent, representing a generally balanced supply of housing inventory.
|The computerized Multiple Listing Service of the Houston Association of Realtors® includes residential properties and new homes listed by 23,000 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 53,000 properties may 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 23,000-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.