Houston Overall Statistics March YTD 2007

§ Single-family home sales were 13% less than found in First Quarter YTD 2007 sales with 13,240 MLS recorded sold units, In First Quarter YTD 2005, there were 12,504 MLS recorded home sales indicating that although the market is down from last year, it is up by 6% from what is currently known as the third greatest year in Houston history.

§ Dollar volume sold in MLS through First Quarter 2008 is $2,667,682,458 which is a 10% decline in dollar volume sold over last year. However, dollar volume is currently up by 20% from YTD 2005.  

§ Average sales price YTD is $201,487 or 3% greater than this time last year. And how far we have come from 2005 where the average sales price was $176,544, or 14% less than current.

§ Active listings are up by 10% with 35,053 single-family homes on the market. In 2005, there were 29,339 single-family homes on the market or 19% fewer homes than currently found.

§ Contracts written, which represent 2008 First Quarter buyer demand in Houston are down 12% over this time last year with 11,109 homes that have gone under contract.

§ Average sales price per square foot is $87, which is the same as last year. 

§ Days on the Market, a statistic that is good if it is declining has gone up by 11% since last year and the average time to sell a home in Houston is 90 days.  

The Houston market sales year-to-date seems to be one of extremes, particularly in sales closed by price class. The number of homes sales in

1.     homes priced below $79,999 are up,

2.    homes priced between $80,000 - $599,999 are down in number of units sold since last year [except $300,000-$399,999 is even with last year]

3.    homes priced between $600,000-$699,999 are up 2% over last year

4.    homes priced between $700,000-899,999 are down over last year

5.    homes priced from $900,000-$999,999 are up by 9% and

6.    The largest increase of any price class above $80,000 is homes priced $1,000,000 and more. There has been a 28% increase in home sales in this price class since last year. The high-end and low-end of the housing market is driving buyer demand more than any other price class. It is unusual for Houston to see this type of price swing, which has atypically been like our average sales price depicts a predominantly middle market.

§ Although the Houston market in the first quarter is not as strong as last year, it is one of the most positive markets in the nation and consistently at the top of nationwide lists in terms of value for the dollar and a great place to invest.