HAR Real Estate Update February 2017

HAR Real Estate Update February 2017

MLS Report for January 2017
THE HOUSTON REAL ESTATE MARKET LAUNCHES 2017 IN POSITIVE TERRITORY

Sales volume and pricing were up in January; inventory grew

HOUSTON (February 8, 2017) The Houston housing market carried its positive momentum from 2016 into the new year, with single-family home sales and pricing both on the rise in January. Homes priced between $500,000 and $750,000 showed the strongest sales activity, and the luxury market ($750,000 and above) enjoyed its third consecutive month in the black, reflecting resistance to any lingering effects of the ailing energy industry.

According to the latest monthly report produced by the Houston Association of Realtors (HAR), a total of 4,080 single-family homes sold in January compared to 4,011 a year earlier. That represents an increase of 1.7 percent. Housing inventory grew from a 3.3-months supply to 3.5 months.

“The Houston real estate market is off to an impressive start for 2017, with the end of the holidays and rising interest rates spurring many on-the-fence buyers to take action in January,” said HAR Chair Cindy Hamann with Heritage Texas Properties. “It is especially encouraging to see vitality in the high end of the market, which faltered in response to falling oil prices, but has now registered positive sales for three straight months.”

The single-family home median price (the figure at which half of the homes sold for more and half sold for less) rose 4.0 percent to $210,000. That marks the highest median price ever for a January. The average price jumped 5.3 percent to $275,696, which also represents a January high.

January sales of all property types in Houston totaled 4,997, up 0.9 percent from the same month last year. Total dollar volume for properties sold in January increased 6.2 percent to $1.3 billion.

January Monthly Market Comparison

The Houston housing market saw across-the-board gains in January, with single-family home sales, total property sales, total dollar volume and pricing all up compared to January 2016.

Month-end pending sales for single-family homes totaled 6,286, an increase of 24.7 percent compared to last year. Total active listings, or the total number of available properties, rose 8.6 percent from January 2016 to 34,958.

Single-family homes inventory grew from a 3.3-months supply to 3.5 months. For perspective, housing inventory across the U.S. currently stands at a 3.6-months supply, according to the latest report from the National Association of Realtors (NAR).

CATEGORIES JANUARY 2016 JANUARY 2017 CHANGE
Total property sales 4,953 4,997 0.9%
Total dollar volume $1,227,395,347 $1,303,839,766 6.2%
Total active listings 32,190 34,958 8.6%
Single-family home sales 4,011 4,080 1.7%
Single-family average sales price $261,847 $275,696 5.3%
Single-family median sales price $202,000 $210,000 4.0%
Single-family months inventory* 3.3 3.5 0.2 mos.
Single-family pending sales 5,041 6,286 24.7%

* 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
Single Family

Single-family home sales totaled 4,080, up 1.7 percent from January 2016, when sales volume totaled 4,011. The median price rose 4.0 percent to a January high of $210,000. The average price climbed 5.3 percent to $275,696, also a record high for a January. Days on Market (DOM), or the number of days it took the average home to sell, edged up to 64 days versus 63 last year.

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

  • $1 – $79,999: decreased 16.3 percent
  • $80,000 – $149,999: decreased 9.4 percent
  • $150,000 – $249,999: increased 4.1 percent
  • $250,000 – $499,999: increased 3.7 percent
  • $500,000 – $749,999: increased 16.5 percent
  • $750,000 and above: increased 14.3 percent
Single Family Average Home Price

HAR also breaks out the sales figures for existing single-family homes. Existing home sales totaled 3,429 in January, up 2.6 percent versus the same month last year. The average sales price rose 6.5 percent to $259,865 while the median sales price jumped 5.4 percent to $195,000.

Townhouse/Condominium Update

Townhome and condominium sales fell in January, with 369 units selling versus 390 a year earlier. That represents a decline of 5.4 percent. The average price rose 1.4 percent to $187,176, while the median price slipped 1.1 percent to $138,000. Inventory jumped from a 3.0-months supply to 3.6 months.

Townhouse/Condominium Sales
Lease Property Update

The lease market had a strong showing in January. Single-family home leases climbed 5.7 percent and townhome/condominium leases increased 6.0 percent. The average rent for single-family homes dropped 1.3 percent to $1,718, while the average rent for townhomes/condominiums fell 4.7 percent to $1,497.

Houston Real Estate Highlights in January
  • Single-family home sales rose 1.7 percent with 4,080 units sold;
  • Total property sales edged up 0.9 percent with 4,997 units sold;
  • Total dollar volume jumped 6.2 percent to $1.3 billion;
  • At $210,000, the single-family home median price rose 4.0 percent to a January high;
  • The single-family home average price climbed 5.3 percent to $275,696, which was also the highest level for a January;
  • Single-family homes months of inventory climbed to a 3.5-months supply;
  • Townhome/condominium sales fell 5.4 percent, with the average price up 1.4 percent to $187,178 and the median price down 1.1 percent to $138,000;
  • Leases of single-family homes rose 5.7 percent with average rent down slightly to $1,718;
  • Leases of townhomes/condominiums increased 6.0 percent with average rent down 4.7 percent to $1,497.

The computerized Multiple Listing Service of the Houston Association of REALTORS® includes residential properties and new homes listed by 36,000 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 36,000-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.

KW This Month in Real Estate February 2017

KW This Month in Real Estate February 2017

Having an issue viewing the Keller Williams’ Newletter: http://jodiecollins.kwrealty.com/media/id/3495632/

This Month in Real Estate
February 2017 Market Update
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Monthly VideoHome sales dipped in December despite a year of robust growth and the strongest housing market in a decade according to the National Association of REALTORS®. Affordability concerns, depleted inventory levels and interest rate increases seen in November have affected certain prospective home buyers, contributing to the modest cooling trend.
Interest Rates
divider
Monthly VideoAccording to Freddie Mac, 30-year fixed rates ticked back down from 4.30 percent to 4.19 percent, reflecting a holding pattern as the Federal Reserve and other financial institutions wait for indications of future fiscal policy enacted by Congress and the Trump Administration.
Home Sales
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Home Sales Graph
The National Association of REALTORS® reported home sales at a seasonally adjusted annual rate of approximately 5.5 million homes during the month of December. This was a decrease of 2.8 percent from November, and an increase of 0.7 percent from December of last year.
Home Prices
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Home Price Graph
The median home price decreased to $232,200 in December, which was down 0.9 percent from November and up 4.0 percent from December of last year. The median home price has increased by approximately $9,000 in the past year alone.
Inventory
divider
Inventory Graph
There was a 3.6-month supply of housing inventory in December, which was a 7.7 percent decrease from November. The total number of homes for sale decreased by 7.7 percent compared to December of last year.
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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Jodie Collins, aka Queen Bee CNE

Keller Williams Professionals

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

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Copyright 2016 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.

 

17 Things to watch in 2017 for Real Estate in Houston

17 Things to watch in 2017 for Real Estate in Houston

*according to Houston Business Journal, January 13 -19, 2017 – Vol. 47, No. 36

Trump is now president, and we are almost a full month into 2017. The Real Estate market for Houston and the surrounding areas is still a bit up in the air, but so far everything is looking great. Here are the 17 Things to watch in 2017 for Real Estate in Houston, according to Houston Business Journal.

  1. Trump becomes President. Despite which political side you reside on, we should all hope that he does well, and that the economy continues to move in a positive direction.
  2. Super Bowl. This will bring in money and spur spending, which may or may not have long term benefits.
  3. Health Care Jobs. Over 9,800 jobs are expected to be created in 2017.
  4. Downtown Real Estate (doesn’t affect the suburbs much though, except it may give you more reasons to drive into Houston). Major years-long improvement projects are wrapping up.
  5. 85th Session of the TX LEGE. The TX Legislature is meeting this year.
  6. Houston Arts Project Milestones. Many arts organizations are finishing or starting projects in 2017.
  7. Private Equity Investments. This depends on Oil and Gas making a come-back.
  8. Houston-Based retail faces out-of-town competition; High-end eateries to open. Dick’s sporting goods, Berthesda, and Canton are all coming to Houston.
  9. Energy M&A. Oil and Gas Mergers and Acquisitions continue.
  10. Energy exports to Mexico.
  11. High-end hotels. Will they move to Houston?
  12. Construction jobs to dry up. Oil and Gas companies not spending like they were…
  13. Boomer Effects: Smaller Homes, active adults and condos
  14. Oil Slump leaves energy companies shedding land, and campuses.
  15. Red Hot Suburb: Sugar Land.
  16. Record-breaking small business loans
  17. Foreign developers invest in Houston residential (real estate)

17 Things to watch in 2017 for Real Estate in Houston

Congratulations Jodie Collins aka Queen Bee 2016 Top Real Estate Producer

2016 Top Real Estate Producer Keller Williams Professionals

Jodie Collins, aka Queen Bee, was awarded a 2016 Top Producer Award from Keller Williams Professionals. This means that she was in the TOP TWENTY PERCENT of all the Keller Williams Professionals agents which is 350 plus agents.

2016 was a strong year for Jodie and the QBee Team and the momentum appears to be growing for 2017! Let us show you why our clients love the fact that they work directly with Jodie throughout the entire real estate process.

Our clients are not just numbers to us, but become part of the QBee Family!

2016 Top Real Estate Producer

#realestate

HAR MLS Report for December and Full-Year 2016

HAR MLS Report for December and Full-Year 2016

HOUSTON HOME SALES ACHIEVE RECORD VOLUME IN 2016

Houston real estate conquers energy slump to complete its strongest year ever

HOUSTON (January 11, 2017) Despite the slowdown that economists predicted as falling oil prices and resulting energy industry layoffs carried over from 2015, the Houston housing market held steady throughout 2016 and gained momentum in the final months of the year to set a new record for home sales. Homes priced at $500,000 and up, which experienced declining sales from August 2015 through October 2016 as a result of the energy slump, achieved an impressive turnaround with double-digit sales increases in November and December.

Full-year 2016 single family home sales totaled 76,449, according to the latest report produced by the Houston Association of Realtors (HAR). That represents an increase of 3.0 percent from 2015 and is 1.3 percent above the previous record of 75,470 homes sold in 2014. Total dollar volume for properties sold in 2016 rose 4.2 percent to $24.5 billion.

To the delight of home buyers, inventory levels grew during the first half of 2016, peaking at a 4.0-months supply in July. However, with the increased pace of home sales, inventory levels retreated, ending the year exactly where they began – at a 3.3-months supply.

“We could not be happier with the Houston housing market’s 2016 performance,” said HAR Chair Cindy Hamann with Heritage Texas Properties. “The year began on a cautionary note because of energy-related layoffs that did affect our higher-priced housing. But what we saw by the end of 2016 is the reflection of a truly diversified Houston economy that continues to benefit from hiring in other industries and a steady influx of consumers from markets across the country and around the world.”

December single-family home sales rose 5.3 percent to 6,628 versus December 2015. As with the luxury market, homes priced between $150,000 and $500,000 enjoyed double-digit year-over-year sales gains in December. Total property sales for the month climbed 5.1 percent to 7,868.

The single-family home median price (the figure at which half of the homes sold for more and half sold for less) rose 2.7 percent to $225,903 That marks the highest median price ever for a December. The average price increased 4.3 percent to $294,512, which also represents a December high.

 

2016 Annual Market Comparison

When 2015 segued to 2016, home sales had been on the decline as plummeting oil prices and energy layoffs sparked jitters throughout the Houston economy. But the housing market demonstrated resiliency, with sales up during all but three months of 2016. By the end of December, a record 76,449 single-family homes had sold. That represents an increase of 3.0 percent from 2015 and is up 1.3 percent from the previous record of 75,470 home sales set in 2014.

On a year-to-date basis, the average price rose 1.1 percent to $283,133 while the median price increased 4.5 percent to $221,500. Total dollar volume for full-year 2016 rose 4.2 percent to $24.5 billion

The greatest one-month sales volume of 2016 was recorded in August, with 7,920 single-family home sold. By contrast, the lightest one-month sales volume took place in January with 4,011 sales.

Months inventory began the year at a 3.3-months supply, and while it grew to a 4.0-months supply over the summer, it ended 2016 back at a 3.3-months supply. Months of inventory estimates the number of months it will take to deplete current active inventory based on the prior 12 months sales activity.

CATEGORIES FULL-YEAR 2015 FULL-YEAR 2016 CHANGE
Single-family home sales 74,174 76,449 3.0%
Total property sales 89,296 91,520 2.2%
Total dollar volume $23,559,111,514 $24,546,840,733 4.2%
Single-family average sales price $280,290 $283,133 1.1%
Single-family median sales price $212,000 $221,000 4.5%

* 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.

 

December Monthly Market Comparison

The Houston housing market recorded across-the-board gains in December, with single-family home sales, total property sales, total dollar volume and pricing all up compared to December 2015.

Month-end pending sales for single-family homes totaled 4,746, an increase of 11.7 percent compared to last year. Total active listings, or the total number of available properties, rose 7.1 percent from December 2015 to 33,802.

Single-family homes inventory grew fractionally from a 3.2-months supply to 3.3 months. For perspective, housing inventory across the U.S. currently stands at a 4.0-months supply, according to the latest report from the National Association of Realtors (NAR).

CATEGORIES DECEMBER 2015 DECEMBER 2016 CHANGE
Total property sales 7,483 7,868 5.1%
Total dollar volume $2,011,469,375 $2,214,420,498 10.1%
Total active listings 31,550 33,802 7.1%
Total pending sales 6,297 6,628 5.3%
Single-family home sales $282,246 $294,512 4.3%
Single-family average sales price $219,900 $225,903 2.7%
Single-family months inventory* 3.2 3.3 0.1 mos.
Single-family pending sales** 4,250 4,746 11.7%

* 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 6,628, up 5.3 percent from December 2015. The median price rose 2.7 percent to a December high of $225,903. The average price climbed 4.3 percent to $294,512, also a record high for a December. Days on Market (DOM), or the number of days it took the average home to sell, edged up to 62 days versus 60 last year.

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

 

  • $1 – $79,999: decreased 16.6 percent
  • $80,000 – $149,999: decreased 8.0 percent
  • $150,000 – $249,999: increased 19.5 percent
  • $250,000 – $499,999: increased 17.5 percent
  • $500,000 and above: increased 22.7 percent

 

Single Family Average Home Price

 

HAR also breaks out the sales figures for existing single-family homes. Existing home sales totaled 5,345 in December, up 6.4 percent versus the same month last year. The average sales price rose 5.4 percent to $270,731 while the median sales price jumped 7.2 percent to $209,000.

Townhouse/Condominium Update

Townhome and condominium sales declined 8.1 in December, with 531 units selling versus 578 a year earlier. The average price rose 3.7 percent to $208,905, while the median price increased 5.8 percent to $169,250. Inventory expanded from a 2.9-months supply to 3.4 months.

Townhouse/Condominium Sales

 

Lease Property Update

The lease market had a strong December. Single-family home leases rose 5.2 percent and townhome/condominium leases jumped 9.5 percent. The average rent for single-family homes dropped slightly to $1,690, while the average rent for townhomes/condominiums edged up to $1,497.

Houston Real Estate Highlights for December and Full-Year 2016
  • 2016 was a record year for Houston home sales with 76,449 single-family homes sold versus 74,174 in 2015. That represents an increase of 3.0 percent. It is also 1.3 percent above the previous record sales volume of 75,470 set in 2014;
  • Total dollar volume for 2016 rose 4.2 percent to $24.5 billion;
  • December single-family home sales climbed 5.3 percent with 6,628 units sold;
  • Total December property sales increased 5.1 percent to 7,868 units;
  • Total dollar volume for December increased 10.1 percent to $2.2 billion;
  • At $225,903, the single-family home median price rose 2.7 percent to a December high;
  • The single-family home average price increased 4.3 percent to $294,512, which was also the highest level for a December;
  • Single-family homes months of inventory edged up to a 3.3-months supply;
  • Townhome/condominium sales fell 8.1 percent, with the average price up 3.7 percent to $208,905 and the median price up 5.8 percent to $169,250;
  • Leases of single-family homes rose 5.2 percent with average rent down slightly to $1,690;
  • Leases of townhomes/condominiums climbed 9.5 percent with average rent up slightly to $1,497.
The computerized Multiple Listing Service of the Houston Association of REALTORS® includes residential properties and new homes listed by 36,000 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 36,000-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.

KW January 2017 Real Estate Market Update

KW January 2017 Real Estate Market Update

Happy New Year! The Real Estate Market is moving in a positive direction for the start of 2017.

KW’s THIS MONTH IN REAL ESTATE

January 2017
HOME SALES
Home sales increased year-over-year.
5.61 MILLION
Seasonally adjusted annual rate of U.S. home sales
+15.4% since one year ago
+0.7%since last month
HOME PRICE
Home prices have continued to increase year-over-year.
$234,900
Average
U.S. home price.
+6.8%since one year ago
+0.3%since last month
MORTGAGE RATES
Mortage rates remain well below the historic average.
30 year fixed: 4.30%
15 year fixed: 3.52%
5/1-year arm: 3.32%
Historical Average: 8.90%
Source: Freddie Mac
THERE’S OPPORTUNITY IN EVERY MARKET!
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New Year New Home 2017

New Year New Home 2017

It is now 2017. Happy New Year! 2016 was extremely busy for the QBee Team, and with all of our happy customers, it shows!

If you are considering purchasing or selling your home this year, contact us today and we can work with you to find that just right home, get the most for your current home, or even both!

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