HAR Real Estate Market MLS Report for October 2017

#realestate #har #mlsreportoctober2017 #houstonassocitionofrealtors
Multiple Listing Service of the Houston Association of REALTORS® includes residential properties and new homes listed by 36,000 REALTORS®

HAR Real Estate Market MLS Report for October 2017

HOUSTON’S POST-HARVEY HOUSING MARKET SEES FURTHER GAINS IN OCTOBER

Home sales continue their positive momentum but constrain inventory levels in the process

HOUSTON (November 8, 2017) The Houston real estate market showed continued resiliency in the aftermath of Hurricane Harvey, with home sales and rentals in positive territory for a second consecutive month in October. However, the strong demand combined with flood-damaged homes previously pulled off the market, constrained housing inventory which had finally reached more balanced levels before the storm struck in late August.

According to the latest monthly report prepared by the Houston Association of Realtors (HAR), single-family home sales rose 7.5 percent, marking a further recovery since Harvey’s assault. All segments of the housing market experienced gains except for homes priced below $150,000. The greatest sales volume was observed among homes priced at $750,000 and above. On a year-to-date basis, home sales remain 2.8 percent ahead of 2016’s volume even as some flood-ravaged neighborhoods continue to rebuild.

Housing inventory edged up from a 3.8-months supply in October 2016 to 3.9 months this October. However, that is down from the 4.3-months peak reached in the weeks immediately preceding Harvey.

The single-family home median price (the figure at which half of the homes sold for more and half sold for less) increased 3.9 percent to $226,491. The average price rose 2.7 percent to $285,858. Both figures represent records highs for an October.

“The overall Houston real estate market wasted little time recovering from Hurricane Harvey’s devastation, but we’d like to see supply grow to meet ongoing consumer demand for housing,” said HAR Chair Cindy Hamann with Berkshire Hathaway HomeServices Anderson Properties. “Hopefully, more balanced inventory levels can be restored by early in the new year.”

October sales of all property types in Houston totaled 7,614, an increase of 6.6 percent versus the same month last year. Total dollar volume climbed 10.8 percent to $2.1 billion.

Lease Property Update

Still propelled largely by consumers displaced from housing as a result of Harvey’s destruction, demand for lease properties across Houston remained strong in October. Single-family home leases rose 13.6 percent while townhome/condominium leases shot up 34.8 percent. The average rent for single-family homes was up 2.8 percent to $1,776 while the average rent for townhomes/condominiums increased 2.9 percent to $1,533.

October Monthly Market Comparison

Houston’s monthly housing market indicators yielded positive readings across the board in October, with single-family home sales, total property sales, median and average pricing and total dollar volume all up versus October 2016.

Month-end pending sales for single-family homes totaled 7,201, up 20.0 percent compared to last year. Total active listings, or the total number of available properties, increased 6.7 percent from October 2016 to 39,692.

Single-family homes inventory edged up from a 3.8-months supply to 3.9 months, but is down from a pre-Harvey (July-August) peak of 4.3-months that dwindled as demand for undamaged and repaired homes outpaced supply. For perspective, housing inventory across the U.S. currently stands at a 4.2-months supply, according to the latest report from the National Association of Realtors (NAR).

CATEGORIES OCTOBER 2016 OCTOBER 2017 CHANGE
Total property sales 7,145 7,614 6.6%
Total dollar volume $1,872,316,367 $2,073,789,548 10.8%
Total active listings 37,185 39,692 6.7%
Single-family home sales 5,934 6,381 7.5%
Single-family average sales price $278,355 $285,858 2.7%
Single-family median sales price $218,040 $226,491 3.9%
Single-family months inventory* 3.8 3.9 0.1 mos.
Single-family pending sales 5,999 7,201 20.0%

* 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 6,381, continuing their post-Harvey rebound for a second consecutive month. That is up 7.5 percent from October 2016 when sales volume was 5,934. On a year-to-date basis, home sales are 2.8 percent ahead of the 2016 volume.

Prices reached the highest levels ever for an October in Houston. The median price increased 3.9 percent to $226,491. The average price rose 2.7 percent to $285,858.

Days on Market (DOM), or the number of days it took the average home to sell, increased from 56 days in October 2016 to 61 days this October. Inventory rose slightly from a 3.8-months supply to 3.9 months year-over-year, but was down from a pre-hurricane level of 4.3 months.

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

  • $1 – $99,999: decreased 2.9 percent
  • $100,000 – $149,999: decreased 18.5 percent
  • $150,000 – $249,999: increased 13.7 percent
  • $250,000 – $499,999: increased 14.4 percent
  • $500,000 – $749,999: increased 2.2 percent
  • $750,000 and above: increased 18.7 percent
Single Family Average Home Price

HAR also breaks out the sales figures for existing single-family homes. Existing home sales totaled 5,262 in October, up 6.8 percent versus the same month last year. The average sales price increased 5.0 percent to $271,414 while the median sales price rose 4.5 percent to $210,000.

Townhouse/Condominium Update

The townhome and condominium market began its post-Harvey rebound in October with a total of 543 units sold, marking a year-over-year increase of 5.8 percent. The average price declined 1.1 percent to $195,393 while the median price declined 3.1 percent to $153,000. Inventory expanded from a 3.7-months supply to 3.9 months, but is down from its pre-Harvey peak of 4.5 months.

Townhouse/Condominium Sales
Houston Real Estate Highlights in October
  • Single-family home sales continued their post-Hurricane Harvey rebound as volume rose 7.5 percent year-over-year with 6,381 units sold;
  • Single-family home sales remain 2.8 percent ahead of 2016’s year-to-date volume;
  • Total property sales increased 6.6 percent with 7,614 units sold;
  • Total dollar jumped 10.8 percent to $2.1 billion;
  • The single-family home median price rose 3.9 percent to $226,491, which represents an October high;
  • The single-family home average price increased 2.7 percent to $285,858, also the highest level for an October;
  • Single-family homes months of inventory grew year-over-year to a 3.9-months supply, but is down from a 4.3-months pre-Harvey peak – the result of a surge in consumer demand for housing;
  • Townhome/condominium sales rose 5.8 percent, with the average price down 1.1 percent to $195,393 and the median price down 3.1 percent to $153,000;
  • Leases of single-family homes rose 13.6 percent with the average rent up 2.8 percent to $1,776;
  • Volume of townhome/condominium leases jumped 34.8 percent with average rent up 2.9 percent to $1,533.
  • HAR still encourages anyone who has housing available for temporary occupancy (up to 12 weeks) to please post it on our Harvey Temporary Housing page at www.har.com/temporaryhousing to provide housing to those in need.
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.

Keller Williams Real Estate Newsletter November 2017

#realestate #realestatenews #realestatenewsletter

Keller Williams Real Estate Newsletter November 2017

According to the National Association of REALTORS®, existing home sales inched up slightly this September. While buyer demand remains strong in much of the country, these marginal gains reflect the inventory strain that continues to impact many markets.

Read the entire Keller Williams Real Estate Newsletter November 2017 here http://jodiecollins.kwrealty.com/media/id/4147389/

Jodie Collins, aka Queen Bee, CNE, PSA, SRS, and the QBee Team

Keller Williams Professionals
JodieCollins@KW.com
JodieCollins.com
(832) 606-4615

Open House Reminder and Video Walk Through 10231 Norway Spruce

#openhouse #walkthrough #realestate #homeforsale #houseforsale

Open House Reminder and Video Walk Through 10231 Norway Spruce

http://www.har.com/10231-norway-spruce/sale_22682751

Asking $188,900
MLS# 22682751

Open House 10231 Norway Spruce Tomball TX, 77375 Sunday Nov 12 from 1 to 3 pm CST

Charming home nestled in a cul-de-sac with exquisite updates including stone & brick elevation front, storm door on the front, plantation shutter on the front window, beautiful granite counters in the kitchen, 42 inch cabinets, with black appliances including refrig, laminate wood floors in the living area, master & master closet. Citrus & plush landscaping on the lot, covered attached patio on the back, gutters on the entire home, split floor plan, no back neighbors, high & dry, won’t last!

This house will not be on the market long!

Jodie Collins, aka Queen Bee, CNE, PSA, SRS, and the QBee Team

Keller Williams Professionals
JodieCollins@KW.com
JodieCollins.com
(832) 606-4615

Keller Williams Real Estate News November 2017

#realestate #realestatenews #kw #kellerwilliams

Keller Williams Real Estate News November 2017

4 Reasons Why Bamboo Is Taking Home Decor by Storm

Denver, Colorado – City Park Homeowners are often looking for home improvement options that strike the right balance between affordability, functionality, aesthetics and eco-friendliness. Bamboo has been marketed as something of a panacea—a kind of wonder wood that checks all the boxes. Designers, contractors and consumers have all taken note, as bamboo has made its way into homes as flooring, walls, window treatments, furniture and more. Here are the properties that are making this popular material a go-to green choice for interior design materials.

Click here to continue reading: http://jodiecollins.kwrealty.com/media/id/4147348/

Keller Williams Real Estate News November 2017

Jodie Collins, aka Queen Bee, CNE, PSA, SRS, and the QBee Team

Keller Williams Professionals
JodieCollins@KW.com
JodieCollins.com
(832) 606-4615

Open House 10231 Norway Spruce Tomball TX Sunday Nov 12

#realestate #openhouse #tomball #home4sale

Open House 10231 Norway Spruce Tomball TX Sunday Nov 12

http://www.har.com/10231-norway-spruce/sale_22682751

Asking $188,900

MLS# 22682751

Open House 10231 Norway Spruce Tomball TX, 77375 Sunday Nov 12 from 1 to 3 pm CST

Charming home nestled in a cul-de-sac with exquisite updates including stone & brick elevation front, storm door on the front, plantation shutter on the front window, beautiful granite counters in the kitchen, 42 inch cabinets, with black appliances including refrig, laminate wood floors in the living area, master & master closet. Citrus & plush landscaping on the lot, covered attached patio on the back, gutters on the entire home, split floor plan, no back neighbors, high & dry, won’t last!

This house will not be on the market long!

Open House 10231 Norway Spruce Tomball TX Sunday Nov 12

Just Listed 10231 Norway Spruce Tomball TX 77375

#forsale #justlisted #tomball #tomballtx

Just Listed 10231 Norway Spruce Tomball TX 77375

http://www.har.com/10231-norway-spruce/sale_22682751

Asking $188,900

MLS# 22682751

Charming home nestled in a culdesac with exquisite updates including stone & brick elevation front, storm door on the front, plantation shutter on the front window, beautiful granite counters in the kitchen, 42 inch cabinets, with black appliances including refrig, laminate wood floors in the living area, master & master closet. Citrus & plush landscaping on the lot, covered attached patio on the back, gutters on the entire home, split floor plan, no back neighbors, high & dry, won’t last!

This house will not be on the market long!

Contact Jodie Collins, Queen Bee, and the QBee Team for details.

Just Listed 10231 Norway Spruce Tomball TX 77375

6 Reasons You Should Never Buy or Sell a Home Without an Agent

#realtor #realestateagent #sellahome #sellingahome #buyingahome #buyahome

6 Reasons You Should Never Buy or Sell a Home Without an Agent

According to Realtor.com article on Feb 4, 2016. Here are the top 6 Reasons You Should Never Buy or Sell a Home Without an Agent:

  1. They have loads of expertise
  2. They have turbocharged searching power
  3. They have bullish negotiating chops
  4. They’re connected to everyone
  5. They adhere to a strict code of ethics
  6. They’re your sage parent/data analyst/therapist—all rolled into one

Read the entire article and additional information on the above points at:

https://www.realtor.com/advice/buy/why-you-should-use-realtor

Here are just a few additional points, why Jodie Collins, aka Queen Bee, should be your Realtor®.

  1. Exceptional Luxury Level Customer Service for all of our clients.
  2. Top notch marketing and just the right amount of technology.
  3. If you just want the facts, or if need someone to walk you through the entire process start to finish, we will provide exactly what you need so you can make the best decisions for you and your family.

Learn more about The QBee Team Difference.

6 Reasons You Should Never Buy or Sell a Home Without an Agent

Jodie Collins, aka Queen Bee, CNE, PSA, SRS, and the QBee Team

Keller Williams Professionals
JodieCollins@KW.com
JodieCollins.com
(832) 606-4615

What does the word Realtor mean & why should you care

#realtor #realestateagent #buyingahome #buyingahouse #sellingahome #sellingahouse

What does the word Realtor mean & why should you care

If you are in the market to sell or buy a home, by now you have heard or read multiple times, you NEED to use a Realtor®. You may be asking: “What does that really mean, and why is it important to me? How are they different than a Real Estate Agent? With technology, I can handle the paperwork myself.”

First let’s define, what does the word Realtor® mean?

According to the https://www.nar.realtor/membership-marks-manual/definition-of-realtor website:

The term REALTOR® has one, and only one, meaning:

REALTOR® is a federally registered collective membership mark which identifies a real estate professional who is member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics.

The single most important rule governing the MARK is that it may only be used to convey this meaning, and never used to convey another meaning.

Stay tuned for future posts and we will cover why this should be important to you, and how a Realtor® can help you in buying or selling a home, and why they are so important.

What does the word Realtor mean & why should you care

Jodie Collins, aka Queen Bee, CNE, PSA, SRS, and the QBee Team

Keller Williams Professionals
JodieCollins@KW.com
JodieCollins.com
(832) 606-4615