HAR Real Estate Report for June 2016

HAR Real Estate Report for June 2016

MLS Report for May 2016
THE HOUSTON HOUSING MARKET HEATS UP IN MAY

Growing inventory helps meet increased buyer demand; pricing eases

HOUSTON (June 15, 2016) Steady growth in the supply of homes provided the fuel needed to help boost to the Houston real estate market in May, with single-family home sales up 10 percent year-over-year. As the market has seen for several months, the greatest concentration of home buying continued to take place among mid-range housing—homes priced between $150,000 and $500,000. The average and median price remained virtually the same as May of 2015.

According to the latest monthly report prepared by the Houston Association of Realtors (HAR), a total of 7,343 homes sold in May compared to 6,678 a year earlier. On a year-to-date basis, home sales rose 3.6 percent versus May of 2015. New listings buoyed inventory levels from a 3.0-months supply to 3.6 months.

“We are seeing more normal market conditions for this time of year and that is the direct result of more plentiful housing inventory for buyers,” said HAR Chairman Mario Arriaga with First Group. “A year ago, the supply of homes was historically low, which increased buyer-side demand and pushed up pricing. These are the fundamental forces of supply and demand, and with more available housing and an easing of prices, we look forward to a healthy pace of sales throughout the summer.”

The single-family home average price declined a fractional 0.5 percent in May to $290,931. The median price—the figure at which half of the homes sold for more and half sold for less—held steady at $225,000.

May sales of all property types in Houston totaled 8,703, up 7.1 percent from the same month last year. Total dollar volume for properties sold in May rose 7.3 percent to $2.4 billion.

May Monthly Market Comparison

The Houston real estate market gauges held to positive territory in May compared to those from a year earlier and continue to reflect what are widely considered sustainable market conditions. On a year-over-year basis, single-family homes sales and total dollar volume were up, inventory grew and prices were statistically flat.

Month-end pending sales for single-family homes totaled 8,286, an increase of 15.6 percent compared to last year which portends the likelihood of more positive sales when the June numbers are tallied. Total active listings, or the total number of available properties, at the end of May climbed 17.4 percent from May 2015 to 35,416.

An increase in new listings in May boosted single-family homes inventory, with levels climbing from a 3.0-months supply to 3.6 months. For perspective, housing inventory across the U.S. currently stands at a 4.7-months supply, according to the latest report from the National Association of Realtors (NAR).

CATEGORIESMAY 2015MAY 2016CHANGE
Total property sales8,1238,7037.1%
Total dollar volume$2,229,902,866$2,392,124,7857.3%
Total active listings30,16235,41617.4%
Single-family home sales6,6787,34310.0%
Single-family average sales price$292,258$290,931-0.5%
Single-family median sales price$224,900$225,0000.0%
Single-family months inventory*3.03.620.9%
Single-family pending sales**7,1678,21315.6%

* 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.
** Effective May 2015, in an effort to be consistent with industry standards, the Houston MLS is now including all categories of pending sales in its reporting. Previously, the Houston MLS did not include “option pending” and “pending continue to show” listings in its reporting of pending sales. The new methodology is now all-inclusive for listings that went under contract during the month.

Single-Family Homes Update
Single Family

Single-family home sales totaled 7,343 in May, up 10.0 percent from May 2015.

The average price was statistically unchanged at $290,931 and the median price was also unchanged at $225,000. Days on Market (DOM), or the number of days it took the average home to sell, edged up to 52 days versus 49 last year.

Broken out by housing segment, May sales performed as follows:

  • $1 – $79,999: decreased 29.6 percent
  • $80,000 – $149,999: decreased 10.3 percent
  • $150,000 – $249,999: increased 20.0 percent
  • $250,000 – $499,999: increased 15.4 percent
  • $500,000 and above: decreased 6.5 percent
Single Family Average Home Price

HAR also breaks out the sales figures for existing single-family homes. Existing home sales totaled 6,190 in May, up 9.1 percent versus the same month last year. The average sales price edged up 1.6 percent year-over-year to $277,957 while the median sales price rose 2.4 percent to $211,000.

Townhouse/Condominium Update

Townhome and condominium sales were unchanged with 621 units selling in both May of 2016 and 2015. The average price declined 2.6 percent to $198,411 while the median price climbed 7.6 percent to $163,000. Inventory grew from a 2.6-months supply to 3.4 months.

Townhouse/Condominium Sales
Lease Property Update

Renters were out in force in May. Single-family home leases rose 4.1 percent, while townhome/condominium leases jumped 10.7 percent. The average rent for single-family homes held steady at $1,866 and the average rent for townhomes/condominiums also remained unchanged at $1,666.

Houston Real Estate Highlights in May
  • Single-family home sales rose 10 percent compared to last May;
  • On a year-to-date basis, single-family home sales are up 3.4 percent;
  • Total property sales jumped 7.1 percent to 8,703 units;
  • Total dollar volume rose 7.3 percent to $2.4 billion;
  • At $290,931, the single-family home average price was statistically unchanged from last year;
  • The single-family home median price was also flat at $225,000;
  • Single-family homes months of inventory climbed to a 3.6-months supply versus 3.0 months a year earlier;
  • Townhome/condominium sales were unchanged with the average price down 2.6 percent to $198,411 and the median price up 7.6 percent to $163,000;
  • Leases of single-family homes were up 4.1 percent with rents unchanged at $1,866;
  • Leases of townhomes/condominiums soared 10.7 percent with rents unchanged at $1,666.

The computerized Multiple Listing Service of the Houston Association of REALTORS® includes residential properties and new homes listed by 32,000 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 50,000 properties may be found on the Internet at http://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 32,000-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 dues-paying membership trade association in Houston as well as the second largest local association/board of REALTORS® in the United States.

Why did my home not sell?

Why did my home not sell?

This may be a question that you are asking yourself, or even your Real Estate Agent. While the reasons can be vast, there are some “common” reasons that the QBee Team and I see often as to why a home didn’t sell, or sold way below market value. Granted, a book could be written on this subject, and I’m sure that it has been before, there are often reoccurring reasons why a homes do not sell. Some are withing the control of the seller or their Real Estate Agent, and some may not be.

Visit our free eBook Download page at: http://jodiecollins.com/wordpress/common-reasons-homes-do-not-sell/ or click on the link from our main webpage.

Why did my home not sell?

Why did my home not sell?

HAR Real Estate Newsletter May 2016

HAR Real Estate Newsletter May 2016

MLS Report for April 2016
THE HOUSTON REAL ESTATE MARKET MAINTAINS A HEALTHY BALANCE IN APRIL

Home sales are up year-to-date; mid-range housing remains the sweet spot

HOUSTON (May 11, 2016) The Houston real estate market continues to display healthy equilibrium despite instability in the energy industry. Overall single-family home sales volume was virtually flat in April, however mid-range homes scored another month of positive sales and the supply of homes available for sale grew some more. The average price was down slightly while the median price rose to an all-time April high.

Single-family home sales declined a fractional 0.6 percent versus April 2015, with a total of 6,310 sales compared to 6,349 a year earlier, according to the latest monthly report prepared by the Houston Association of Realtors (HAR). On a year-to-date basis, home sales are 1.6 percent ahead of last year’s pace. New listings helped inventory grow from a 2.9-months supply to 3.6 months.

“There is little to complain about in the April HAR sales report, especially when you take into account the fact that we are comparing current home sales to the Houston housing market’s record 2015 performance,” said HAR Chairman Mario Arriaga with First Group. “Indicators continue to point to more sustainable market conditions, as mid-range homes sell well and consumers find that they have more homes from which to choose than they did at this time last year.”

Home prices delivered mixed readings in April. The single-family home average price declined 1.0 percent to $278,544. The median price-the figure at which half of the homes sold for more and half sold for less—rose 3.3 percent to $217,000, the highest price ever for an April.

April sales of all property types in Houston totaled 7,583, down 2.0 percent from the same month last year. Total dollar volume for properties sold in March declined 1.6 percent to $2.01 billion.

April Monthly Market Comparison

Houston’s housing market figures were mixed in April compared to those from a year earlier, but continue to support what are considered more sustainable market conditions. On a year-over-year basis, single-family homes sales, average price and total dollar volume were down slightly while inventory levels grew and the median sales price rose to an April record high.

Month-end pending sales for single-family homes totaled 8,213, an increase of 2.3 percent compared to last year. Total active listings, or the total number of available properties, at the end of April climbed 16.7 percent from April 2015 to 34,402.

April’s increase in new listings gave single-family homes inventory a boost, with levels climbing from a 2.9-months supply to 3.6 months. For perspective, housing inventory across the U.S. currently stands at a 4.5-months supply, according to the latest report from the National Association of Realtors (NAR).

CATEGORIESAPRIL 2015APRIL 2016CHANGE
Total property sales7,7417,583-2.0%
Total dollar volume$2,049,590,794$2,016,963,688-1.6%
Total active listings29,48634,40216.7%
Single-family home sales6,3496,310-0.6%
Single-family average sales price$281,352$278,544-1.0%
Single-family median sales price$210,000$217,0003.3%
Single-family months inventory*2.93.622.6%
Single-family pending sales**8,0278,2132.3%

* 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.
** Effective May 2015, in an effort to be consistent with industry standards, the Houston MLS is now including all categories of pending sales in its reporting. Previously, the Houston MLS did not include “option pending” and “pending continue to show” listings in its reporting of pending sales. The new methodology is now all-inclusive for listings that went under contract during the month.

Single-Family Homes Update
Single Family

Single-family home sales totaled 6,310 in April, down just 0.6 percent from April 2015.

The average price declined 1.0 percent to $278,544, while the median price rose 3.3 percent $217,000, a record high for an April in Houston. Days on Market (DOM), or the number of days it took the average home to sell, edged up to 55 days versus 51 in 2015.

Broken out by housing segment, April sales performed as follows:

  • $1 – $79,999: decreased 12.8 percent
  • $80,000 – $149,999: decreased 19.3 percent
  • $150,000 – $249,999: increased 7.8 percent
  • $250,000 – $499,999: increased 2.1 percent
  • $500,000 and above: decreased 15.7 percent
Single Family Average Home Price

HAR also breaks out the sales figures for existing single-family homes. Existing home sales totaled 5,428 in April, up 1.0 percent versus the same month last year. The average sales price fell 0.9 percent year-over-year to $260,019 while the median sales price rose 4.1 percent to $201,000.

Townhouse/Condominium Update

Sales of townhouses and condominiums tumbled 12.6 percent in April coming off of last month’s year-over-year increase of 4.7 percent. A total of 562 units sold compared to 643 properties in April 2015. The average price rose 4.1 percent to $206,832 while the median price climbed 7.3 percent to $153,450. Inventory grew from a 2.6-months supply to 3.4 months.

Townhouse/Condominium Sales
Lease Property Update

Demand for lease properties was very strong in April. Rentals of single-family homes jumped 18.1 percent, while townhomes/condominiums saw demand soar 26.0 percent. The average rent for single-family homes rose 2.6 percent to $1,811 while the average rent for townhomes/condominiums declined 1.4 percent to $1,574.

Houston Real Estate Highlights in April
  • Single-family home sales declined a fractional 0.6 percent compared to last April;
  • On a year-to-date basis, single-family home sales are up 1.6 percent;
  • Total property sales declined 2.0 percent to 7,583 units;
  • Total dollar volume fell 1.6 percent to $2.01 billion;
  • At $278,544, the single-family home average price was down 1.0 percent compared to last April;
  • The single-family home median price rose 3.3 percent year-over-year to an all-time April high of $217,000;
  • Single-family homes months of inventory climbed to a 3.6-months supply versus 2.9 months a year earlier;
  • Townhome/condominium sales fell 12.6 percent with the average price up 4.1 percent to $206,832 and the median price up 7.3 percent to $153,450;
  • Leases of single-family homes leapt 18.1 percent with rents up 2.6 percent to $1,811;
  • Leases of townhomes/condominiums soared 26.0 percent with rents down 1.7 percent to $1,574.
The computerized Multiple Listing Service of the Houston Association of REALTORS® includes residential properties and new homes listed by 32,000 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 50,000 properties may be found on the Internet at http://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 32,000-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 dues-paying membership trade association in Houston as well as the second largest local association/board of REALTORS® in the United States.

Happy Mother’s Day 2016

Happy Mother’s Day 2016

From our families to yours. Happy Mother’s Day!

jodiecollins.com
Happy Mother's Day 2016
Moms have been working hard all year. Mother’s Day is a day for them to put down their to-do list, relax, and kick up their feet.
If finding a home is still on a to-do list for a mom you know, please be sure to share my contact information.

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Jodie Collins, aka Queen Bee CNE

Keller Williams Professionals

(281) 444-3900
(832) 606-4615

Click here to download my mobile app!
jodiecollins@kwrealty.com
jodiecollins.com
Copyright 2015 Keller Williams® Realty, Inc. If you have a brokerage relationship with another agency, this is not intended as a solicitation. All information deemed reliable but not guaranteed. Equal Opportunity Housing Provider. Each office is independently owned and operated.

8344 Spring Cypress Rd., Suite B, Spring, 77379

Open House Sunday May 8 2016

Open House Sunday May 8 2016

Open House 22506 High Point Pines Spring TX 77373, Sunday May 8 2016, 1 – 3 pm CST

MLS# 86402042

http://www.har.com/22506-high-point-pines/sale_86402042

Asking $179,000

Stunning home with fabulous touches through out. Upgrades include porcelain wood wide plank tile on the first level, stainless steel appliances, refrigerator included, new berber carpet, paint, ceiling fans in most rooms, great deck area off the back door to the backyard. Spacious and open floor plan, secondary room on the first level can be used for a mother-in-law suite or study, Laundry room upstairs, with easy access to 99, I-45, minutes from The Woodlands. Make this your home today!

Just Listed 22506 High Point Pines Spring TX 77373

Just Listed 22506 High Point Pines Spring TX 77373

MLS# 86402042

http://www.har.com/22506-high-point-pines/sale_86402042

Asking $179,000

Stunning home with fabulous touches through out. Upgrades include porcelain wood wide plank tile on the first level, stainless steel appliances, refrigerator included, new berber carpet, paint, ceiling fans in most rooms, great deck area off the back door to the backyard. Spacious and open floor plan, secondary room on the first level can be used for a mother-in-law suite or study, Laundry room upstairs, with easy access to 99, I-45, minutes from The Woodlands. Make this your home today!

Keller Williams Real Estate Newsletter May 2016

Keller Williams Real Estate Newsletter May 2016

 

Keller Williams Real Estate Newsletter May 2016
May 2016 Market Update
Monthly VideoHome sales accelerated in March, rebounding from February’s slight decline and outpacing the same time last year. Buyers were out in full force, despite a mixed market in terms of both price growth and inventory levels. Those searching for starter homes faced the tightest inventories as well as increases in price, while the luxury market experienced higher inventory levels and modest price gains.
Interest Rates
Interest RatesInterest rates ticked down slightly from the month prior and remain at historically low levels. The Federal Reserve refrained from raising interest rates in April. Rates will likely remain low, but may begin to trend upward as the next Federal Reserve meeting in June approaches.
Home Sales
Home Sales

The National Association of REALTORS® reported home sales at a seasonally adjusted annual rate of 5.3 million homes during the month of March. This was an increase of 5.1 percent from February, and an increase of 1.5 percent from March of last year. Currently, 2016 is projected to outpace 2015 by approximately 720,000 total home sales.

Home Price
Home Price

The median home price was $222,700 in March, which was up 5 percent from February and up 5.7 percent from last year. The median home price has increased by approximately $12,000 in the past year alone.

Inventory
Inventory

There was a 4.5-month supply of housing inventory in March, up from 4.4 months in February. The total number of homes for sale in March increased by 2.3 percent to 1.98 million homes nationwide, but that was still 30,000 fewer listings than March of last year.

Real Expert. Real Neighbor. Real Estate.
Brought to you by KW Research. For additional graphs and details, please see the This Month in Real Estate PowerPoint Report.The opinions expressed in This Month in Real Estate are intended to supplement opinions on real estate expressed by local and national media, local real estate agents and other expert sources. You should not treat any opinion expressed on This Month in Real Estate as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of opinion. Keller Williams Realty, Inc., does not guarantee and is not responsible for the accuracy or completeness of information, and provides said information without warranties of any kind. All information presented herein is intended and should be used for educational purposes only. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. All investments involve some degree of risk. Keller Williams Realty, Inc., will not be liable for any loss or damage caused by your reliance on information contained in This Month in Real Estate.

 

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personal photo
Jodie Collins, aka Queen Bee CNE

Keller Williams Professionals

(281) 444-3900
(832) 606-4615

Click here to download my mobile app!
jodiecollins@kwrealty.com
jodiecollins.com
Copyright 2015 Keller Williams® Realty, Inc. If you have a brokerage relationship with another agency, this is not intended as a solicitation. All information deemed reliable but not guaranteed. Equal Opportunity Housing Provider. Each office is independently owned and operated.

 

 

 

8344 Spring Cypress Rd., Suite B, Spring, 77379
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