HAR Houston Real Estate Market Update January 2018

#har #realestate #realestatenews #realestateupdate #realestatemarketupdate #jodiecollins #queenbee #qbeeteam

HAR Houston Real Estate Market Update January 2018

MLS Report for December and Full-Year 2017

 

HURRICANE HARVEY CAN’T STOP HOUSTON’S HOUSING MARKET FROM REACHING RECORD TERRITORY IN 2017

Houston real estate resists Mother Nature to complete its strongest year ever

HOUSTON (January 10, 2018) Despite the devastating assault that Hurricane Harvey waged on the greater Houston area last summer – from which many property owners are still recovering – the Houston real estate market set new records by the time the sun set on 2017. Single-family home sales for the full year rose 3.5 percent compared to 2016, the previous record year. However, as 2018 gets underway, the supply of housing remains constrained. Inventory had begun to reach more balanced levels when Harvey’s widespread flooding sent affected residents scrambling for whatever undamaged rental and sales homes were available to provide safe shelter for themselves and their families.

According to the latest report produced by the Houston Association of Realtors (HAR), sales of all property types in 2017 totaled 94,726 units, a 3.5-percent increase over 2016’s volume, which was 91,530. Total dollar volume for single-family homes sold in 2017 rose 6.5 percent to $23 billion.

“No one could ever have imagined 2017 turning out to be a record-setting year for the Houston real estate market, which had weathered the effects of the energy slump only to have Harvey strike such a devastating blow,” said HAR Chair Kenya Burrell-VanWormer with JP Morgan Chase. “We know that many are still working tirelessly to rebuild their lives after Harvey, but overall, this clearly illustrates the incredible resilience of the people and the economy of Houston, Texas. We also know that some neighborhoods are performing better than others, so it’s always advisable to consult a Realtor when thinking about buying or selling a home.”

December single-family home sales rose 4.1 percent to 6,875 versus December 2016. The strongest sales performance took place among homes priced between $250,000 and $500,000. Total property sales for the month climbed 3.5 percent to 8,125.

The single-family home median price (the figure at which half of the homes sold for more and half sold for less) rose 1.7 percent to $230,000. That marks the highest median price ever for a December. The average price declined 0.6 percent to $292,174.

 

2017 Annual Market Comparison

As 2017 began, the high end of the Houston real estate market was showing welcomed signs of recovery from the effects of the weakened energy sector, and inventory levels in all housing categories finally began to rise. Strong employment numbers translated to an influx of home buyers and renters to the Houston area from across the country and around the world. However, Harvey’s late August rampage interrupted hiring and forced those whose homes and apartments were damaged or destroyed to seek immediate housing anywhere they could, causing inventory to shrink.

Fortunately, the setbacks resulting from this historic weather catastrophe were much shorter-lived than anticipated. By the end of September – just four weeks after Harvey hit – the “Houston Strong” housing market saw home sales rebound and the greatest rental activity of all time. The positive momentum continued through the final months of 2017.

By the end of December, a record 79,117 single-family homes had sold. That represents an increase of 3.5 percent from the previous record of 76,450 in 2016.

On a year-to-date basis, the average price rose 2.9 percent to $291,340 while the median price increased 3.8 percent to $229,900. Total dollar volume for full-year 2017 jumped 6.5 percent to $23 billion.

The strongest one-month sales volume of 2017 was recorded in June with 8,362 single-family homes sold. By contrast, the lightest one-month sales volume took place in January with 4,104 sales.

Months of inventory began the year at a 3.3-months supply, and while it grew to a 4.3-months supply just before Harvey struck the region, it ended 2017 at a 3.2-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 2016 FULL-YEAR 2017 CHANGE
Single-family home sales 76,450 79,117 3.5%
Total property sales 91,530 94,726 3.5%
Total dollar volume $21,645,218,533 $23,049,934,248 6.5%
Single-family average sales price $283,133 $291,340 2.9%
Single-family median sales price $221,500 $229,900 3.8%

* 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 registered largely positive measurements in December, with single-family home sales, total property sales, total dollar volume and median pricing all up compared to December 2016.

Month-end pending sales for single-family homes totaled 5,413, an increase of 24.0 percent versus 2016. Total active listings, or the total number of available properties, declined 2.2 percent from December 2016 to 33,432.

Single-family homes inventory shrank from a 3.4-months supply to 3.2 months. For perspective, housing inventory across the U.S. currently stands at a 3.4-months supply, according to the latest report from the National Association of Realtors (NAR).

CATEGORIES DECEMBER 2016 DECEMBER 2017 CHANGE
Total property sales 7,850 8,125 3.5%
Total dollar volume $2,209,007,615 $2,271,587,746 2.8%
Total active listings 34,199 33,432 -2.2%
Single-family home sales 6,606 6,875 4.1%
Single-family average sales price $294,035 $292,174 -0.6%
Single-family median sales price $226,050 $230,000 1.7%
Single-family months inventory* 3.4 3.2 -0.2 mos.
Single-family pending sales** 4,367 5,413 24.0%

* 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 6,875, up 4.1 percent from December 2016. The median price rose 1.7 percent to a December high of $230,000. The average price declined a fractional 0.6 percent to $292,174. Days on Market (DOM), or the number of days it took the average home to sell, was unchanged at 62.

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

 

  • $1 – $99,999: increased 5.7 percent
  • $100,000 – $149,999: decreased 7.3 percent
  • $150,000 – $249,999: increased 4.5 percent
  • $250,000 – $499,999: increased 9.1 percent
  • $500,000 – $749,999: unchanged
  • $750,000 and above: decreased 11.2 percent

 

Single Family Average Home Price

 

HAR also breaks out the sales figures for existing single-family homes. Existing home sales totaled 5,460 in December, up 3.7 percent versus the same month last year. The average sales price rose 2.6 percent to $276,738 while the median sales price increased 1.2 percent to $211,000.

Townhouse/Condominium Update

Townhome and condominium sales increased 3.2 percent in December, with 552 units selling versus 535 a year earlier. The average price fell 5.5 percent to $199,197 and the median price dropped 9.3 percent to $158,250. Inventory went from a 3.4-months supply to 3.3 months.

Townhouse/Condominium Sales

 

Lease Property Update

Houston’s lease market had a mixed performance in December. Single-family home leases fell 3.6 percent and townhome/condominium leases rose 7.3 percent. The average rent for single-family homes increased 3.3 percent to $1,745, while the average rent for townhomes/condominiums rose 2.4 percent to $1,532.

Houston Real Estate Highlights for December and Full-Year 2017
  • Despite the devastation caused by Hurricane Harvey, 2017 proved to be a record year for Houston home sales with 79,117 single-family homes sold versus 76,450 in 2016, the last record-setting year. That represents an increase of 3.5 percent;
  • Total dollar volume for single-family homes in 2017 rose 6.5 percent to $23 billion;
  • December single-family home sales climbed 4.1 percent year-over-year with 6,875 units sold;
  • Total December property sales increased 3.5 percent to 8,125 units;
  • Total dollar volume for December increased 2.8 percent to $2.3 billion;
  • At $230,000, the single-family home median price rose 1.7 percent to a December high;
  • The single-family home average price declined 0.6 percent to $292,174;
  • Single-family homes months of inventory declined slightly to a 3.2-months supply;
  • Townhome/condominium sales rose 3.2 percent, with the average price down 5.5 percent to $199,197 and the median price down 9.3 percent to $158,250;
  • Leases of single-family homes fell 3.6 percent with average rent up 3.3 percent to $1,745;
  • Leases of townhomes/condominiums climbed 7.3 percent with average rent up 2.4 percent to $1,532.
The computerized Multiple Listing Service of the Houston Association of REALTORS® includes residential properties and new homes listed by 37,000 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 37,000-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.

Have A Great Real Estate Day!

Jodie “Queen Bee” Collins, Realtor©, CNE, PSA, SRS
Real Estate Consultant
CERTIFIED NEGOTIATION EXPERT (CNE)
PRICING STRATEGY ADVISOR (PSA)
SELLER REPRESENTATIVE SPECIALIST (SRS)

Keller Williams Professionals
8344 Spring Cypress, Ste B
Spring, TX 77379
jodiecollins.com
Ph# 281-444-3900
Fax # 281-444-3993
Cell # 832-606-4615

*All Keller Williams Offices are independently owned and operated.

Open House 12602 Ravens Chase Lane Cypress TX Sunday Jan 28th

#forsale #cypress #openhouse #cypresstx #homeforsale #kw #kellerwilliams #queenbee #qbeeteam #jodiecollins

Open House 12602 Ravens Chase Lane Cypress TX Sunday Jan 28th from 1 -3 pm CST

http://www.har.com/12602-ravens-chase-lane/sale_80300076

Asking $250,000

MLS# 80300076

3 Bedrooms / 2.5 Baths / 2 Car Garage / 2804 Sqft

THIS SPECTACULAR HOME DID NOT FLOOD DURING HARVEY! SITUATED IN RAVENSWAY LAKE, THIS BEAUTIFUL HOME FEATURES A STUNNING ARRANGEMENT OF AMENITIES BOTH INSIDE AND OUT. THIS EXTREMELY WELL KEPT HOME FEATURES 3 SPACIOUS SUITES, 2-1/2 BATHS, KITCHEN WITH LARGE EAT AT BAR, FAMILY ROOM WITH SOARING CEILINGS AND FIREPLACE, FORMAL DINING ROOM, FORMAL LIVING ROOM/STUDY, MASTER SUITE ON FIRST FLOOR WITH EXQUISITE MASTER BATH, 2 UPSTAIRS SUITES WITH GAMEROOM. NEW LAMINATE WOOD FLOORS INSTALLED IN DECEMBER 2017. EXPLORE THE OUTDOORS WITH YOUR FAMILY, ALONG THE PAVED WALKING TRAIL WHICH WRAPS AROUND THE ENTIRE NATURAL SPRING-FED LAKE. DON’T FORGET ABOUT THE AWARD-WINNING SCHOOLS IN CYPRESS-FAIRBANKS ISD. HURRY, YOU DON’T WANT TO MISS OUT ON THIS OPPORTUNITY!

 

Open House 12602 Ravens Chase Lane Cypress TX Sunday Jan 28th, This is a Jewel of a home located in the Cypress Texas area, in a hidden quiet neighborhood. It will not be on the market long. Large spacious unique home with plenty of upgrades. Low Mud taxes make this home even more affordable. In walking distance to the neighborhood pond with a walking path, this same pond can be seen from the game room.

 

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

Open House 12602 Ravens Chase Lane Cypress TX Sunday Jan 28th

 

Have A Great Real Estate Day!

Jodie “Queen Bee” Collins, Realtor©, CNE, PSA, SRS
Real Estate Consultant
CERTIFIED NEGOTIATION EXPERT (CNE)
PRICING STRATEGY ADVISOR (PSA)
SELLER REPRESENTATIVE SPECIALIST (SRS)

Keller Williams Professionals
8344 Spring Cypress, Ste B
Spring, TX 77379
jodiecollins.com
Ph# 281-444-3900
Fax # 281-444-3993
Cell # 832-606-4615

*All Keller Williams Offices are independently owned and operated.

Price Reduced 12602 Ravens Chase Lane Cypress TX 77429

#forsale #reduced #cypress #cypresstx #homeforsale #kw #kellerwilliams #queenbee #qbeeteam #jodiecollins

Price Reduced 12602 Ravens Chase Lane Cypress TX 77429

http://www.har.com/12602-ravens-chase-lane/sale_80300076

Asking $250,000 (Reduced from $259,900)

MLS# 80300076

3 Bedrooms / 2.5 Baths / 2 Car Garage / 2804 Sqft

THIS SPECTACULAR HOME DID NOT FLOOD DURING HARVEY! SITUATED IN RAVENSWAY LAKE, THIS BEAUTIFUL HOME FEATURES A STUNNING ARRANGEMENT OF AMENITIES BOTH INSIDE AND OUT. THIS EXTREMELY WELL KEPT HOME FEATURES 3 SPACIOUS SUITES, 2-1/2 BATHS, KITCHEN WITH LARGE EAT AT BAR, FAMILY ROOM WITH SOARING CEILINGS AND FIREPLACE, FORMAL DINING ROOM, FORMAL LIVING ROOM/STUDY, MASTER SUITE ON FIRST FLOOR WITH EXQUISITE MASTER BATH, 2 UPSTAIRS SUITES WITH GAMEROOM. NEW LAMINATE WOOD FLOORS INSTALLED IN DECEMBER 2017. EXPLORE THE OUTDOORS WITH YOUR FAMILY, ALONG THE PAVED WALKING TRAIL WHICH WRAPS AROUND THE ENTIRE NATURAL SPRING-FED LAKE. DON’T FORGET ABOUT THE AWARD-WINNING SCHOOLS IN CYPRESS-FAIRBANKS ISD. HURRY, YOU DON’T WANT TO MISS OUT ON THIS OPPORTUNITY!

 

Reduced 12602 Ravens Chase Lane Cypress TX 77429, This is a Jewel of a home located in the Cypress Texas area, in a hidden quiet neighborhood. It will not be on the market long. Large spacious unique home with plenty of upgrades. Low Mud taxes make this home even more affordable. In walking distance to the neighborhood pond with a walking path, this same pond can be seen from the game room.

 

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

Reduced 12602 Ravens Chase Lane Cypress TX 77429

 

Have A Great Real Estate Day!

Jodie “Queen Bee” Collins, Realtor©, CNE, PSA, SRS
Real Estate Consultant
CERTIFIED NEGOTIATION EXPERT (CNE)
PRICING STRATEGY ADVISOR (PSA)
SELLER REPRESENTATIVE SPECIALIST (SRS)

Keller Williams Professionals
8344 Spring Cypress, Ste B
Spring, TX 77379
jodiecollins.com
Ph# 281-444-3900
Fax # 281-444-3993
Cell # 832-606-4615

*All Keller Williams Offices are independently owned and operated.

Keller Williams This month in Real Estate December 2017

#realestate #realestateupdate #newsletter #kw #kellerwilliams #queenbee #qbeeteam #jodiecollins

Keller Williams This month in Real Estate December 2017

Keller Williams This month in Real Estate December 2017

See the entire Keller Williams This month in Real Estate December 2017

Have A Great Real Estate Day!

Jodie “Queen Bee” Collins, Realtor©, CNE, PSA, SRS
Real Estate Consultant
CERTIFIED NEGOTIATION EXPERT (CNE)
PRICING STRATEGY ADVISOR (PSA)
SELLER REPRESENTATIVE SPECIALIST (SRS)

Keller Williams Professionals
8344 Spring Cypress, Ste B
Spring, TX 77379
jodiecollins.com
Ph# 281-444-3900
Fax # 281-444-3993
Cell # 832-606-4615

*All Keller Williams Offices are independently owned and operated.

Keller Williams Monthly Real Estate News Letter January 2018

#realestate #realestatenewsletter #realestatemarket #kw #kellerwilliams #queenbee #qbeeteam #jodiecollins

Keller Williams Monthly Real Estate News Letter January 2018

Why Remodeling Can Bring More Joy to a Home

By Meredith Dunn, National Association of REALTORS®

The expected tenure of homeowners in a home continues to increase, according to the latest Profile of Home Buyers and Sellers. Last year, the expected tenure was 12 years – this year, it jumped to 15. And, with tightened inventory in many markets, people are staying put in their homes for longer. As a result, remodeling one’s current home is an increasingly popular option for those who want their dream home, but are unable or unwilling to move.

The 2017 Remodeling Impact report shows that remodeling can bring more enjoyment to a home, and that certain projects have high returns both in terms of the joy they bring to the homeowner, as well as the amount of expenses that are recouped when the home is sold.

The projects that yield the most joy and recoup the most expenses might come as a surprise. According to REALTOR® respondents, the number one project is a complete kitchen renovation. The top reason homeowners renovate the kitchen is for better functionality and livability, according to 44 percent of respondents. When the project is completed, 91 percent of respondents have both a greater desire to be in the home and have a greater sense of enjoyment when they are at home. Overall, a kitchen renovation receives a 10 out of 10 Joy Score and REALTORS® estimate that $40,000 of the cost can be recovered at resale—approximately 62 percent of the estimated cost.

 

Continue reading the Keller Williams Monthly Real Estate News Letter January 2018: http://jodiecollins.kwrealty.com/media/id/4280584/

Have A Great Real Estate Day!

Jodie “Queen Bee” Collins, Realtor©, CNE, PSA, SRS
Real Estate Consultant
CERTIFIED NEGOTIATION EXPERT (CNE)
PRICING STRATEGY ADVISOR (PSA)
SELLER REPRESENTATIVE SPECIALIST (SRS)

Keller Williams Professionals
8344 Spring Cypress, Ste B
Spring, TX 77379
jodiecollins.com
Ph# 281-444-3900
Fax # 281-444-3993
Cell # 832-606-4615

*All Keller Williams Offices are independently owned and operated.

Open House 12602 Ravens Chase Lane Cypress TX Sunday Jan 14th

#forsale #cypress #openhouse #cypresstx #homeforsale #kw #kellerwilliams #queenbee #qbeeteam #jodiecollins

Open House 12602 Ravens Chase Lane Cypress TX Sunday Jan 14th from 1 -3 pm CST

http://www.har.com/12602-ravens-chase-lane/sale_80300076

Asking $259,900

MLS# 80300076

3 Bedrooms / 2.5 Baths / 2 Car Garage / 2804 Sqft

THIS SPECTACULAR HOME IN RAVENSWAY LAKE FEATURES A STUNNING ARRANGEMENT OF AMENITIES BOTH INSIDE AND OUT. THIS EXTREMELY WELL KEPT HOME FEATURES 3 SPACIOUS SUITES, 2-1/2 BATHS, KITCHEN WITH LARGE EAT AT BAR, FAMILY ROOM WITH SOARING CEILINGS AND FIREPLACE, FORMAL DINING ROOM, FORMAL LIVING ROOM/STUDY, MASTER SUITE ON FIRST FLOOR WITH EXQUISITE MASTER BATH, 2 UPSTAIRS SUITES WITH GAMEROOM. NEW LAMINATE WOOD FLOORS INSTALLED IN LIVING ROOM, FORMAL DINING ROOM, FORMAL LIVING ROOM/STUDY, AND BEDROOM #2 IN DECEMBER 2017. CHECK OUT THE LAKE VIEW FROM THE GAMEROOM WINDOW. DON’T FORGET TO LOOK AT THE BEAUTIFUL ROCK BED ALONG THE BACK FENCE. HURRY, THIS HOME WON’T LAST LONG!

 

Open House 12602 Ravens Chase Lane Cypress TX Sunday Jan 14th from 1 – 3 PM CST, This is a Jewel of a home located in the Cypress Texas area, in a hidden quiet neighborhood. It will not be on the market long. Large spacious unique home with plenty of upgrades. Low Mud taxes make this home even more affordable. In walking distance to the neighborhood pond with a walking path, this same pond can be seen from the game room.

 

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

Open House 12602 Ravens Chase Lane Cypress TX Sunday Jan 14th

 

Have A Great Real Estate Day!

Jodie “Queen Bee” Collins, Realtor©, CNE, PSA, SRS
Real Estate Consultant
CERTIFIED NEGOTIATION EXPERT (CNE)
PRICING STRATEGY ADVISOR (PSA)
SELLER REPRESENTATIVE SPECIALIST (SRS)

Keller Williams Professionals
8344 Spring Cypress, Ste B
Spring, TX 77379
jodiecollins.com
Ph# 281-444-3900
Fax # 281-444-3993
Cell # 832-606-4615

*All Keller Williams Offices are independently owned and operated.

Just listed 12602 Ravens Chase Lane Cypress TX 77429

#forsale #justlisted #cypressl #cypresstx #homeforsale #kw #kellerwilliams #queenbee #qbeeteam #jodiecollins

Just listed 12602 Ravens Chase Lane Cypress TX 77429

http://www.har.com/12602-ravens-chase-lane/sale_80300076

Asking $259,900

MLS# 80300076

3 Bedrooms / 2.5 Baths / 2 Car Garage / 2804 Sqft

THIS SPECTACULAR HOME IN RAVENSWAY LAKE FEATURES A STUNNING ARRANGEMENT OF AMENITIES BOTH INSIDE AND OUT. THIS EXTREMELY WELL KEPT HOME FEATURES 3 SPACIOUS SUITES, 2-1/2 BATHS, KITCHEN WITH LARGE EAT AT BAR, FAMILY ROOM WITH SOARING CEILINGS AND FIREPLACE, FORMAL DINING ROOM, FORMAL LIVING ROOM/STUDY, MASTER SUITE ON FIRST FLOOR WITH EXQUISITE MASTER BATH, 2 UPSTAIRS SUITES WITH GAMEROOM. NEW LAMINATE WOOD FLOORS INSTALLED IN LIVING ROOM, FORMAL DINING ROOM, FORMAL LIVING ROOM/STUDY, AND BEDROOM #2 IN DECEMBER 2017. CHECK OUT THE LAKE VIEW FROM THE GAMEROOM WINDOW. DON’T FORGET TO LOOK AT THE BEAUTIFUL ROCK BED ALONG THE BACK FENCE. HURRY, THIS HOME WON’T LAST LONG!

 

Just listed 12602 Ravens Chase Lane Cypress TX 77429, This is a Jewel of a home located in the Cypress Texas area, in a hidden quiet neighborhood. It will not be on the market long. Large spacious unique home with plenty of upgrades. Low Mud taxes make this home even more affordable. In walking distance to the neighborhood pond with a walking path, this same pond can be seen from the game room.

 

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

Just listed 12602 Ravens Chase Lane Cypress TX 77429

 

Have A Great Real Estate Day!

Jodie “Queen Bee” Collins, Realtor©, CNE, PSA, SRS
Real Estate Consultant
CERTIFIED NEGOTIATION EXPERT (CNE)
PRICING STRATEGY ADVISOR (PSA)
SELLER REPRESENTATIVE SPECIALIST (SRS)

Keller Williams Professionals
8344 Spring Cypress, Ste B
Spring, TX 77379
jodiecollins.com
Ph# 281-444-3900
Fax # 281-444-3993
Cell # 832-606-4615

*All Keller Williams Offices are independently owned and operated.

HAR Real Estate Market Update December 2017

#har #realestate #realestatenews #realestateupdate #realestatemarketupdate #jodiecollins #queenbee #qbeeteam

HAR Real Estate Market Update December 2017

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

MLS Report for November 2017

HOUSTON HOME SALES BRING GOOD TIDINGS IN NOVEMBER

The post-Harvey rebound continues despite constrained inventory

HOUSTON (December 13, 2017) Home buyers and renters propelled Houston’s post-Hurricane Harvey real estate market into positive territory for a third straight month in November, even as the supply of homes remained constrained.

Single-family home sales rose 7.4 percent year-over-year, according to the latest monthly report from the Houston Association of Realtors (HAR). All segments of the housing market registered gains except for homes priced between $100,000 and $150,000 and those priced at $750,000 and above. On a year-to-date basis, home sales are 3.3 percent ahead of 2016’s volume, even as some storm-damaged properties continue to undergo reconstruction and renovation for their eventual return to the market.

Housing inventory edged up from a 3.6-months supply in November 2016 to 3.7 months this November. As HAR has noted in previous reports, 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) rose a fractional 0.3 percent to $225,725. The average price increased 0.9 percent to $284,250. Both figures represent record highs for a November.

“November was definitely a month for giving thanks as the Houston real estate market continued its post-Harvey comeback, however the challenge remains meeting consumer demand with inventory levels that are very low,” said HAR Chair Cindy Hamann with Berkshire Hathaway HomeServices Anderson Properties. “The key to boosting supply will be restoring salvageable homes to sellable condition and ramping up new construction, both of which we want to see sooner than later.”

November sales of all property types in Houston totaled 7,270, an increase of 4.9 percent versus the same month last year. Total dollar volume climbed 8.4 percent to $2.0 billion.

Lease Property Update

Demand for lease properties across the Houston area remained strong in November as consumers that were unable to find for-sale homes turned to the alternative. Single-family home leases rose 6.8 percent while townhome/condominium leases surged 20.1 percent. The average rent for single-family homes was up 2.1 percent to $1,763 while the average rent for townhomes/condominiums dipped 0.5 percent to $1,498.

November Monthly Market Comparison

Houston’s monthly housing market indicators yielded across-the-board gains in November, with single-family home sales, total property sales, median and average pricing and total dollar volume all up compared to November 2016.

Month-end pending sales for single-family homes totaled 6,218, up 17.6 percent versus last year. Total active listings, or the total number of available properties, increased 4.4 percent from November 2016 to 37,914.

Single-family homes inventory edged up from a 3.6-months supply to 3.7 months, but is down from a pre-Harvey (July-August) peak of 4.3-months that shrank as demand for undamaged and repaired homes began outpacing supply. For perspective, housing inventory across the U.S. currently stands at a 3.9-months supply, according to the latest report from the National Association of Realtors (NAR).

CATEGORIES NOVEMBER 2016 NOVEMBER 2017 CHANGE
Total property sales 6,932 7,270 4.9%
Total dollar volume $1,839,212,584 $1,994,224,080 8.4%
Total active listings 36,318 37,914 4.4%
Single-family home sales 5,758 6,184 7.4%
Single-family average sales price $281,655 $284,250 0.9%
Single-family median sales price $224,995 $225,725 0.3%
Single-family months inventory* 3.6 3.7 0.1 mo.
Single-family pending sales 5,286 6,218 17.6%

* 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.

Single-Family Homes Update
Single Family

Single-family home sales totaled 6,184, extending a post-Harvey rebound for the third consecutive month. That is up 7.4 percent from November 2016 when sales volume was 5,758. On a year-to-date basis, home sales are 3.3 percent ahead of the 2016 volume.

Prices reached the highest levels ever for a November in Houston. The median price eked out a fractional 0.3 percent increase to $225,725. The average price rose 0.9 percent to $284,250.

Days on Market (DOM), or the number of days it took the average home to sell, increased from 57 days in November 2016 to 61 days this November. Inventory rose slightly from a 3.6-months supply to 3.7 months year-over-year, but was down from a pre-hurricane level of 4.3 months.

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

  • $1 – $99,999: increased 23.0 percent
  • $100,000 – $149,999: decreased 15.4 percent
  • $150,000 – $249,999: increased 14.3 percent
  • $250,000 – $499,999: increased 9.9 percent
  • $500,000 – $749,999: increased 12.6 percent
  • $750,000 and above: decreased 3.9 percent
Single Family Average Home Price

HAR also breaks out the sales figures for existing single-family homes. Existing home sales totaled 5,072 in November, up 8.4 percent versus the same month last year. The average sales price increased 2.8 percent to $270,584 while the median sales price rose 3.9 percent to $213,000.

Townhouse/Condominium Update

The townhome and condominium market is still trying to find its post-Harvey footing with a total of 483 units sold, marking a year-over-year decline of 3.0 percent. The average price fell 5.4 percent to $196,546 while the median price dropped 3.2 percent to $158,100. Inventory expanded from a 3.7-months supply to 3.8 months, but is down from its pre-Harvey peak of 4.5 months.

Townhouse/Condominium Sales
Houston Real Estate Highlights in November
  • Single-family home sales continued their post-Hurricane Harvey comeback as volume rose 7.4 percent year-over-year with 6,184 units sold;
  • Single-family home sales remain 3.3 percent ahead of 2016’s year-to-date volume;
  • Days on Market (DOM) for single-family homes increased from 57 days in November 2016 to 61 days this November;
  • Total property sales increased 4.9 percent with 7,270 units sold;
  • Total dollar volume jumped 8.4 percent to $2.0 billion;
  • The single-family home median price rose a fractional 0.3 percent to $225,725, which represents a November high;
  • The single-family home average price increased 0.9 percent to $284,250, also the highest level for a November;
  • Single-family homes months of inventory grew year-over-year to a 3.7-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 fell 3.0 percent, with the average price down 5.4 percent to $196,546 and the median price down 3.2 percent to $158,100;
  • Leases of single-family homes rose 6.8 percent with the average rent up 2.1 percent to $1,763;
  • Volume of townhome/condominium leases jumped 20.1 percent with average rent down 0.5 percent to $1,498.
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.

Have A Great Real Estate Day!

Jodie “Queen Bee” Collins, Realtor©, CNE, PSA, SRS
Real Estate Consultant
CERTIFIED NEGOTIATION EXPERT (CNE)
PRICING STRATEGY ADVISOR (PSA)
SELLER REPRESENTATIVE SPECIALIST (SRS)

Keller Williams Professionals
8344 Spring Cypress, Ste B
Spring, TX 77379
jodiecollins.com
Ph# 281-444-3900
Fax # 281-444-3993
Cell # 832-606-4615

*All Keller Williams Offices are independently owned and operated.

Price Reduced 10231 Norway Spruce Tomball TX

#realestate #pricereduced #tomball #home4sale #kellerwilliams #kw #jodiecollins #queenbee #qbeeteam

Price Reduced 10231 Norway Spruce Tomball TX

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

Asking $185,900

MLS# 22682751

Price Reduced 10231 Norway Spruce Tomball TX

Charming home nestled in a cul-de-sac with exquisite updates including stone & brick elevation front, storm door on the front, plantation shutters 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!

 

Price Reduced 10231 Norway Spruce Tomball TX

Have A Great Real Estate Day!

Jodie “Queen Bee” Collins, Realtor©, CNE, PSA, SRS
Real Estate Consultant
CERTIFIED NEGOTIATION EXPERT (CNE)
PRICING STRATEGY ADVISOR (PSA)
SELLER REPRESENTATIVE SPECIALIST (SRS)

Keller Williams Professionals
8344 Spring Cypress, Ste B
Spring, TX 77379
jodiecollins.com
Ph# 281-444-3900
Fax # 281-444-3993
Cell # 832-606-4615

*All Keller Williams Offices are independently owned and operated.

Open House Virginia Pine Dr Tomball TX 77375 Sunday Dec 17th

#forsale #openhouse #tomball #tomballtx #homeforsale #kw #kellerwilliams #queenbee #qbeeteam #jodiecollins

Open House Virginia Pine Dr Tomball TX 77375 Sunday Dec 17th from 1 to 3 pm CST

http://www.har.com/23531-virginia-pine-drive/sale_85430569

Asking $182,900

MLS# 85430569

Open House Virginia Pine Dr Tomball TX 77375 Sunday Dec 17th from 1 to 3 pm CST

Stunning home with many upgrades including granite counter tops in the kitchen and 42inch cabinets with a eat at bar area, gas stove, plenty of cabinet space, utility room off the breakfast area with plenty of room for a second refrigerator, covered back patio great for out door grilling while admiring your plush landscaping. The home features ceiling fans, a split style floor plan and a great open feel. The outdoor of this home provides several plush landscaping features with beautiful plants, a sprinkler system, super clean and well maintained home ready for move in. Come out and take a tour, you will not be disappointed and make this your dream home today!

This house will not be on the market long!

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

Open House Virginia Pine Dr Tomball TX 77375 Sunday Dec 17th

 

Have A Great Real Estate Day!

Jodie “Queen Bee” Collins, Realtor©, CNE, PSA, SRS
Real Estate Consultant
CERTIFIED NEGOTIATION EXPERT (CNE)
PRICING STRATEGY ADVISOR (PSA)
SELLER REPRESENTATIVE SPECIALIST (SRS)

Keller Williams Professionals
8344 Spring Cypress, Ste B
Spring, TX 77379
jodiecollins.com
Ph# 281-444-3900
Fax # 281-444-3993
Cell # 832-606-4615

*All Keller Williams Offices are independently owned and operated.