Multiple Listing Service of the Houston Association of REALTORS® includes residential properties and new homes listed by 50,000 REALTORS®
February 2001 Sales | ||||||||||||||||||||||||||||
Houston Gears Up for Home-Buying Season | ||||||||||||||||||||||||||||
Houston Association of Realtors Releases February Home Sales Figures | ||||||||||||||||||||||||||||
HOUSTON (March 21, 2001) Houstons real estate market experienced a 6.3 percent decrease in total sales this month,
leaving an extra 200 homes on the market, according to the statistics released today by the Houston Association of
Realtors Multiple Listing Service. With more homes on the market, both buyers and sellers can prepare for a
market-topping, home-selling season. The Houston market saw a 12 percent increase in the available inventory this
month, and the median price of single-family homes continued to rise to $118,560. The active listings for the month of
February increased by 2.9 percent from last month. Total sales decreased to 3,624 resulting in a 6.3 percent decline from last years 3,866 total sales. As a result, the total dollar volume closed last month was $546,442,907, a decrease of 1.2 percent compared to last Februarys total of $553,096,447. Single-family existing homes spent 86 days on the market, a slight increase of 6.2 percent from last years 81 days on the market. Total sales for single-family homes dropped slightly to 2,956, a decrease of 7.1 percent from last year for the month of February. The beginning of this years home-buying season appears to offer a great potential for many prospective home owners, said Todd Mason, chairman of the Houston Association of Realtors. In the past, Houston has experienced such a strong sellers market that the level of available inventory has actually been quite low, and the inventory has not been able to rise toward a level of balance between buyers and sellers. Although it is still a sellers market, with the increase in the number of homes available, conditions are beginning to balance and become more favorable for buyers. Compared with the rest of the country, Houston buyers will experience reasonable prices, as the sellers continue to reap the benefits of a strong market. Active listings peaked at 26,481, representing a 12.6 percent increase from last years total of 23,524. The median price of $118,560 was 3.8 percent higher than last Februarys $114,250. The number of pending sales decreased to 3,294 compared to 3,548 last February. Available inventory rose to 26,481 last month, compared to 25,739 in January, representing a 2.9 percent increase. |
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High Rise Properties, Townhouse/Condo and Country Homes Update HARMLS reported a decrease in the median price for high rise properties for February dropping 19.8 percent to $210,000 from last year's $262,000. High rise sales also decreased to 19 last month compared to 30 in the same month last year. Townhouse/condominium figures rose slightly last month with 420 sales and a median price of $78,000 compared to February 2000's totals of 392 and $79,250 respectively. Country homes decreased in median price by 15.5 percent from $115,570 last February to $97,700 this year. Top MLS Areas in February Among the MLS areas experiencing significant increases in median price in February over last year were: |
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The computerized Multiple Listing Service of the Houston Association of Realtors includes residential properties and
new homes listed by 11,000 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 homes can be found on the Internet at https://www.HAR.com. The information published and disseminated to the HAR Multiple Listing Service (MLS) is communicated verbatim, without change by MLS, as filed by MLS participants. The MLS does not verify the information provided and disclaims any responsibility for its accuracy. All MLS data is preliminary and subject to change. Monthly sales figures reported since August 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.) |