Inner loop Houston Real Estate 713.426.0366

Houston Single-Family home sales edge up in June as effecs of Homebuyer tax credit wane

2010-07-23T09:54:00.000-07:00

Average price reaches the highest level in nearly two years

HAR

HOUSTON — (July 20, 2010) — Closings of properties purchased through the federal homebuyer tax credit combined with the seasonal spring-summer uptick in consumer activity kept Houston-area single-family home sales in positive territory for a fourth straight month in June. However, expiration of the homebuyer tax credit slowed the brisk pace of sales volume that the market enjoyed in recent months.
Congress extended the time necessary to close on homes purchased with the tax credit by three months to September 30, provided the property was under contract by April 30. The May and June decline in pending sales—property listings that are expected to close within the next 30 to 60 days—was expected, as homebuyers rushed to take advantage of the tax credit and is considered an indicator that sales volume will slow in July.
According to the latest monthly data compiled by the Houston Association of Realtors® (HAR), June sales of single-family homes throughout the Houston market rose 2.9 percent compared to June 2009. That follows increases of 11.3 percent in March, 27.8 percent in April and 18.2 percent in May. Sales volume showed gains in all single-family home pricing segments except the $150,000 to $250,000 market. The largest increase took place among homes priced from $500,000 and above. Sales of all property types combined climbed 4.1 percent in June on a year-over-year basis.
The average price of a single-family home edged up 0.9 percent from June 2009 to $222,767, the highest price since July 2008. The June single-family home median price—the figure at which half of the homes sold for more and half sold for less—dipped 2.9 percent from one year earlier to $159,700, but still reached the highest level since August 2009.
Foreclosure property sales reported in the Multiple Listing Service (MLS) rose 9.3 percent in June compared to one year earlier. The median price of June foreclosure sales increased 2.4 percent to $88,000 on a year-over-year basis.
Sales of all property types in Houston for June totaled 6,593, up 4.1 percent compared to June 2009. Total dollar volume for properties sold during the month was $1.4 billion versus $1.3 billion one year earlier, representing a 4.9 percent increase.
“The Houston real estate market has benefited all that it can from the homebuyer tax credit and now comes the return of sales trends that are more typical for this time of year,” said Margie Dorrance, HAR chair and principal at Keller Williams Realty Metropolitan. “Heavy sales activity in the high end of the housing market boosted the average price in June, but growing inventory, an increase in months inventory and a slowdown in listings under contract point to a more flattened market in the coming months.”
June Monthly Market ComparisonThe month of June brought Houston’s overall housing market largely positive results when all listing categories are compared to June of 2009. Total property sales and total dollar volume increased on a year-over-year basis while the average single-family home sales price ticked up and the median price declined.
The number of available properties, or active listings, at the end of June rose 17.3 percent from June 2009 to 53,934. That represents 2,749 more active listings than one month earlier, in June 2010, and reflects additional housing inventory that began hitting the market as a result of interest in the homebuyer tax credit as well as general confidence in improved market conditions.
Month-end pending sales for June totaled 3,272, down 16.0 percent from last year. This is a likely indicator that the effects of the tax credit have worn off. The months inventory of single-family homes for June extended to 7.3 months compared to 6.4 months one year earlier, but remains healthier than the national months inventory of single-family homes of 8.3 months, reported by the National Association of REALTORS® (NAR).

CATEGORIES
JUNE 2009
JUNE 2010
PERCENT CHANGE
Total property sales
6,332
6,593
4.1%
Total dollar volume
$1,347,610,333
$1,413,393,916
4.9%
Total active listings
45,989
53,934
17.3%
Total pending sales
3,896
3,272
-16.0%
Single-family home sales
5,425
5,584
2.9%
Single-family average sales price
$220,802
$222,767
0.9%
Single-family median sales price
$164,500
$159,700
-2.9%
Months inventory*
6.4
7.3
14.5%
* 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.

Single-Family Homes Update
June sales of single-family homes in Houston totaled 5,584, up 2.9 percent from June 2009. This marks the fourth consecutive month of accelerated sales activity. Broken out by segment, June sales of homes priced from $80,000 and below increased 7.1 percent; homes priced between $80,000 and $150,000 rose 9.6 percent; those in the $150,000 to $250,000 fell 8.0 percent—representing the only decline in sales volume; and homes priced between $250,000 and $500,000 edged up 1.3 percent. Sales of luxury homes—those priced from $500,000 to the millions—reflected the greatest gains, increasing 20.3 percent.
The average price of single-family homes in June was $222,767, up 0.9 percent compared to one year earlier. That is the highest pricing level since July 2008. At $159,700, the median sales price for single-family homes slid 2.9 percent versus June 2009. That is the highest price since August 2009. The national single-family median price reported by NAR is $179,400, illustrating the continued higher value and lower cost of living that consumers enjoy in the Houston market.
HAR also breaks out the sales performance of existing single-family homes throughout the Houston market. In June 2010, existing home sales totaled 4,753, a 2.8 percent increase from June 2009. The average sales price edged up 1.5 percent to $209,510 compared to last year while the median sales price of $148,000 declined 4.5 percent from its June 2009 level.
Townhouse/Condominium UpdateThe number of townhouses and condominiums that sold in June rose 4.6 percent compared to one year earlier. In the greater Houston area, 527 units were sold last month versus 504 properties in June 2009.
The average price tumbled 5.0 percent to $161,809 from June 2009 to June 2010. The median price of a townhouse/condominium fell 4.7 percent year-over-year to $137,000.
Lease Property UpdateDemand for single-family home rentals rose 21.0 percent in June compared to one year earlier. Year-over-year townhouse/condominium rentals increased 22.7 percent.
Houston Real Estate Milestones in June
Single-family home sales rose 2.9 percent;
Total property sales increased 4.1 percent;
At $222,767, the average price of a single-family home reached the highest level since July 2008;
At $159,700, the median price of a single-family home reached the highest level since August 2009;
7.3 months inventory of single-family homes compares favorably to the national average of 8.3 months;
Townhouse/condominium sales rose 4.6 percent;
Total dollar volume climbed 4.9 percent, reaching $1.4 billion.

The computerized Multiple Listing Service of the Houston Association of Realtors® includes residential properties and new homes listed by 25,000 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 25,000-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 local association/board of Realtors® in the United States as well as the largest individual membership trade association in Houston.

http://houston.habitationrealty.com

Habitation Realty is sponsoring White Linen Night in the Heights on August 7th 7-10PM

2010-07-23T09:43:00.000-07:00

Join us for White Linen Night in the Heights on August 7th from 7-10 at the Habitation Realty office in the Heights for wine and hors d'oeuves while enjoying the music of DJ SEDUCTION!

Address: 1332 Yale Street Houston TX 77008 (Bright Green Building)

Date: August 7th 2010

Time: 7-10 PM

Habitations Realty's "Deal of the Week" Lazybrook an inner loop quiet neighborhood in Houston

2010-06-30T11:07:00.000-07:00

Deal of the Week

6-30-2010

Vitals:

Address: 1831 Seamist Ct.

SQFT: 1436

Lot Size:7215

Price: $144,900

Why is this a deal?

Lazybrook is a great quiet neighborhood inside Houston's inner loop. It has a great neighborhood feel with large lots and mature trees. Typical houses sell for $250-$300k in Lazybrook! This foreclosure will be gone within a few days! Call 713-426-0366 for more info. Every week Habitation Realty Houston posts a new "deal of the week". This Houston homes are hand selected and are DEALS! They usually do not last for more then a week. If any of these appeal to you contact us for a private showing.

Habitation Realty's "Deal of the week" River Oaks 2122 Del Monte Drive

2010-06-14T14:40:00.000-07:00

Deal of the Week

6-15-2010

Vitals:
Address: 2122 Del Monte Dr.
SQFT: 2386
Lot Size: 10762
Price: $935,000

Why is this a deal?

River Oaks is one of the premier neighborhoods in Houston's Inner loop. It is the perfect mix of convenience and prestige. This particular foreclosure is on the great street of Del Monte and does not back to any type of commercial. The best feature of the home is the over sized 10,000+ square foot lot. You have amazing houses all around you and are just steps away from River Oaks Country Club. Call 713-426-0366 for more info. Every week Habitation Realty Houston posts a new "Deal of the week". These properties are hand selected and are DEALS. They usually do not last for more then a week. If any of these appeal to you contact us for a private showing.

Habitation Realty's "Deal of the Week" Houston Heights

2010-06-01T12:13:00.000-07:00

Deal of the week

6-1-2010

Vitals:
Address: 1013 Herkimer Street
SQFT: 2887
Lot Size: 4000
Price: $384,900

Why is this a deal?

Herkimer is a great street to live on in the Heights. You are steps away from the new Hike and Bike trail. The price per square foot on an almost new house is unbeatable! Call 713-426-0366 for more info. Every week Habitation Realty Houston posts a new "Deal of the week". These properties are hand selected and are DEALS. They usually do not last for more then a week. If any of these appeal to you contact us for a private showing.

Habitation Realty's "Deal of the Week" Medical Center Foreclosure

2010-01-22T11:11:00.000-08:00

Deal of the week
1-22-2010

Vitals:

Address: 2338 Camden Drive

SQFT: 3059

Lot Size: 2962

Price $299,000

Why is this a deal?

Great area in great neighborhood of Camden Court Townhomes. This townhome is steps from the Medical Center, U of H, Museum District and much more. This property was just listed 1-22-2010 and will not last, Take advantage of this foreclosure deal today! Call 713-426-0366.
Every week Habitation Realty Houston posts a new "Deal of the Week". These properties are hand selected and are DEALS. They usually do not last more then a week. If any of these appeal to you contact us for a personal showing.

Habitation Realty's "Deal of the week" Hyde Park Foreclosure

2009-12-29T10:58:00.000-08:00

Deal of the week

12-28-2009

Vitals:

Address: 1813 Indiana Street
SQFT: 2690
Lot Size: 1400
Price $320,000

Why is this a deal?

Great street in great neighborhood of Hyde Park. This single family home is steps from River Oaks, Montrose and River Oaks Shopping Center. This property was just listed 12-28-2009 and will not last, Take advantage of this foreclosure deal today! Call 713-426-0366.

Every week Habitation Realty Houston posts a new "Deal of the Week". These properties are hand selected and are DEALS. They usually do not last more then a week. If any of these appeal to you contact us for a personal showing.

Habitation Realty is on Facebook. Follow us for hand picked bargain properties for sale in Houston's Inner Loop area

2009-12-22T09:52:00.000-08:00

Follow Habitation Realty on Facebook. We have a page set up that will show "bargain of the week" a hand picked bargain in the Inner Loop of Houston for sale. Check back every week to see the feature.

Habitation Realty sponsored Pet Fair at Grace church in Houston Heights

2009-12-20T21:50:00.000-08:00

Thanks to everyone for their support for Habitation Realty at the Grace Church annual Pet Fair on Heights Boulevard. We had an amazing turnout and passed out Organic Dog Treats to everyone who came by. We had all of our information on all our current properties for sale in Houston on display.

We look forward to seeing everyone next year!

Houston Property Sales and Prices Maintain Third Straight Month in the Black in November

2009-12-20T21:17:00.000-08:00

Year-over-year comparisons remain distorted due to Hurricane Ike, but longer-term view continues to show signs of recovery

HOUSTON — (December 15, 2009) — The effects of Hurricane Ike and simultaneous economic downturn affecting Houston’s real estate market in November 2008 continue to distort year-over-year comparisons which reflect yet another month of double-digit increases. However, longer-term analysis aimed at gleaning a more realistic view of market conditions shows November 2009 real estate activity to be comparable to that seen at the cusp of the recession, in the fall of 2007.
November marked the third straight month in which property sales volume and pricing recorded gains. According to the latest monthly data compiled by the Houston Association of REALTORS® (HAR), November volume of single-family home sales across the greater Houston area rose 32.8 percent compared to November 2008. Total property sales climbed 37.1 percent in November on a year-over-year basis. In addition to the comparative affects on sales data from last year’s natural disaster and economic recession, HAR member REALTORS® report that at least some of the month’s homebuying activity can be attributed to consumers scurrying to beat the original November 30 homebuyer tax credit deadline before Congress voted to extend and expand the program. At $150,000, the November single-family home median price—the figure at which half of the homes sold for more and half sold for less—rose 8.7 percent from one year earlier, representing the seventh straight monthly increase in median price. The average price of a single-family home in Houston was $198,948, up 6.7 percent last month versus November 2008. The median price reached the highest level ever for a month of November in Houston.Foreclosure property sales continued to decline in November, making up 15.8 percent of all single-family home sales in the Houston area compared to 27.4 percent in November 2008 and the 12-month peak of 34.0 percent in January of this year. The median price of November foreclosure sales reported in the Multiple Listing Service (MLS) rose 9.5 percent to $93,000 on a year-over-year basis. Sales of all property types in Houston for November totaled 5,353, up 37.1 percent compared to November 2008. Total dollar volume for properties sold during the month was $1.0 billion versus $714 million one year earlier, representing an increase of 44.5 percent. “This is the third month in a row in which a year-over-year comparison exaggerates the local housing landscape because Hurricane Ike continued to hurt the Houston real estate market last November,” said Vicki Fullerton, HAR chair and broker of record at RE/MAX of The Woodlands & Spring. “We are very encouraged that property sales activity appears to be close to levels reached right before the recession took hold, and expect more realistic year-over-year data in the months ahead so we can again compare apples to apples.”
November Monthly Market ComparisonThe month of November brought Houston’s overall housing market positive results when all listing categories are compared to November of 2008. Total property sales, total dollar volume and both median and average single-family home sales prices were all up on a year-over-year basis. The number of available properties, or active listings, at the end of November fell 4.0 percent from November 2008 to 45,452. That housing inventory represents 28 more active listings than one month earlier, in October 2009.
November’s month-end pending sales—those listings expected to close within the next 30 days—totaled 2,741, which was 12.8 percent lower than last year. While such a decrease typically portends a decline in sales volume for the following month, the Hurricane Ike effect and interest in the homebuyer tax credit make it tricky to forecast. The months inventory of single-family homes for November came in at 6.0 months, down from 6.1 months one year earlier, and remains healthier than the national months inventory of single-family homes of 7.0 months, reported by the National Association of REALTORS® (NAR).

CATEGORIES
November 2008
November 2009
PERCENT CHANGE
Total property sales
3,904
5,353
37.1%
Total dollar volume
$713,994,683
$1,031,455,912
44.5%
Total active listings
47,354
45,452
-4.0%
Total pending sales
3,144
2,741
-12.8%
Average single-family sales price
$186,449
$198,948
6.7%
Median single-family sales price
$138,000
$150,000
8.7%
Months inventory*
6.1
6.0
-1.8%
* 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.

Single-Family Homes Update
At $150,000, the median sales price for single-family homes rose for the seventh consecutive month, up 8.7 percent from November 2008. That represents the highest median price ever recorded in a month of November in Houston. The national single-family median price reported by NAR is $173,100, illustrating the continued higher value and lower cost of living that consumers enjoy in the Houston market. The average price of single-family homes in October was $198,948, an increase of 6.7 percent from one year earlier

HAR also reports existing home statistics for the single-family home segment of the real estate market. In November 2009, existing single-family home sales totaled 3,721, a 34.8 percent increase from November 2008. At $142,000, the median sales price for existing homes in the Houston area rose 13.6 percent compared to last year. The average sales price of $182,883 climbed 12.3 percent from its November 2008 level.
Townhouse/Condo Update
The number of townhouses and condominiums sold in November rose dramatically compared to one year earlier—again, the product of the market interruption caused by Hurricane Ike. In the greater Houston area, 502 units were sold last month versus 286 properties in November 2008, translating to a 75.5 percent boost in year-over-year sales.
The median price of a townhouse/condominium rose 13.7 percent year-over-year to $134,500. The average price climbed 5.3 percent to $162,708 from November 2008 to November 2009.

Lease Property Update
Demand for single-family home rentals fell 9.0 percent in November compared to a year earlier. Year-over-year townhouse/condominium rentals declined by 2.9 percent.
Houston Real Estate Milestones in November
Single-family homes sales increased for a third consecutive month, by 32.8 percent;
Existing single-family home sales increased for a third consecutive month, by 34.8 percent;
Total property sales increased for a third consecutive month, by 37.1 percent;
The median price of a single-family home was up for the seventh straight month, reaching the highest level ever recorded in a November ($150,000);
Month’s inventory of single-family homes dropped from 6.1 to 6.0 months compared to the national average of 7.0 months

The computerized Multiple Listing Service of the Houston Association of Realtors® includes residential properties and new homes listed by 24,000 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.

source HAR.com

Congrats to LOLA for opening on Yale street in the Heights

2009-09-25T08:21:00.000-07:00

Great to see more restaurants opening in the heights! Has anyone had a chance to try it yet?

Sign Bandits? Habitation Realty on channel 11 local news

2009-09-25T08:11:00.000-07:00

Houston’s bandit sign patrols netting 'For Sale' signs, too

To see the news segment video click here

06:55 PM CDT on Tuesday, September 22, 2009
By Lee McGuire / 11 News
HOUSTON – As political signs dot the streetscape, Houston’s bandit sign patrols are working harder than ever – and netting a new kind of catch: “For Sale” signs.
Reggie Harris, who leads the city’s bandit sign patrols for the Public Works Department, said real estate signs are often placed in the city right of way, which makes them a target for removal.
“As long as we see signs in the right of ways, we confiscate them,” he said. “An illegally placed sign in the city of Houston is an illegally placed sign.”
Realtor Chris Mastrangelo knows the city’s determination firsthand. In 2007 he moved to Houston from New York City and set up shop in a renovated bungalow in the Heights. His brokerage, Habitation Realty, has had three signs vanish in the last few months. Mastrangelo suspects city crews hoisted them from in front of homes he is trying to sell.
“The last thing we need is something that will make it more difficult to sell a house,” he said.
Mastrangelo has started placing his bright green aluminum signs in the yards of houses he is selling, which the city says is perfectly legal. However, this often forces the signs to be placed behind fences or landscaping.
“It’s crucial to have a sign on the ground so people know it’s for sale,” he said. “If that sign is hidden or further back, then it is definitely going to affect the sale of the property.”
A spokesman for the Houston Association of Realtors says it has noticed an uptick in the number of “For Sale” signs confiscated by the city, especially signs for open houses that are generally placed down the street from the homes being marketed. However, the Association is not taking a formal position on the issue because many realtors support enforcement of the city’s bandit sign rules, a spokesman said.
Harris, with the city, said realtors can get their signs back by paying a $50 fee plus a storage fee of $10 a day.
Mastrangelo said he would love to do that – if the city would return his calls. “I called the city three times and got no response,” he said.
At $700 a pop, he said, “I would love to get them back

Houston single family home median price rises for the fourth straight month

2009-09-25T07:45:00.000-07:00

Seasonal Summer Home Shopping, First-Time Home Buyers Buoy Houston Real Estate Market in August
Single-family home median price rises for the fourth straight month

HOUSTON — (September 15, 2009) — The Houston real estate market showed continued signs in August of attempting to break free from the downward trend in property sales that first began in September 2007.
Boosted by seasonal summer home buying, including an influx of first-time home buyers taking advantage of the federal government’s soon-to-expire $8,000 tax credit, the August volume of single-family home sales across the greater Houston area slid 10.1 percent compared to August 2008, according to new monthly data compiled by the Houston Association of REALTORS® (HAR). That follows July’s 6.1 percent (corrected) drop, which was the smallest decline since the market downturn began in September 2007. Total property sales tumbled 11.0 percent in August on a year-over-year basis following last month’s 5.1 percent drop, which was the smallest rate of decline since November 2007 when it was off by 10.2 percent.At $160,880, the August single-family home median price—the figure at which half of the homes sold for more and half sold for less—rose 0.6 percent from one year earlier to the third highest level of 2009. That’s the fourth straight monthly increase in the median price. The average price of a single-family home in Houston dipped 4.2 percent last month to $213,396 compared to August 2008. That represents the third highest average price of the year.Foreclosure property sales slowed again in August, making up 16.7 percent of all single-family home sales in the Houston area compared to 18.3 percent in August 2008 and the 12-month peak of 34.0 percent in January of this year. The median price of August foreclosure sales reported in the Multiple Listing Service (MLS) declined 7.5 percent from $93,000 to $86,000 on a year-over-year basis. Sales of all property types in Houston for August totaled 5,904, off 11.0 percent compared to August 2008. Total dollar volume for properties sold during the month was $1.0 billion versus $1.2 billion one year earlier, representing a decline of 13.9 percent.“We knew going in that recovery would be a gradual process, however overall indications continue to show the Houston real estate market on strong footing, particularly when it comes to price appreciation,” said Vicki Fullerton, HAR chair and broker of record at RE/MAX of The Woodlands & Spring. “Our REALTOR® members report that many first-time homebuyers have been taking advantage of the $8,000 tax credit, but time is running out with that incentive set to expire on November 30.”
August Monthly Market ComparisonThe month of August brought Houston’s overall housing mostly negative results when all listing categories are compared to August of 2008. Total property sales, total dollar volume and average single-family home sales prices were down on a year-over-year basis while median single-family home sales prices rose slightly. The number of available properties, or active listings, at the end of August fell 12.9 percent from August 2008 to 46,023. That is 575 less active listings than one month earlier, in July 2009, and considered an indicator of balanced housing inventory levels.
Month-end pending sales—those listings expected to close within the next 30 days—totaled 3,901, which was 9.3 percent lower than last year. While that most likely means sales will be down again in September, the effects of Hurricane Ike on the local real estate business one year ago make it difficult to forecast. The month’s inventory of single-family homes for August came in at 6.5 months, down from 6.7 months one year earlier, and remains much healthier than the national month’s inventory of single-family homes of 9.4 months, reported by the National Association of REALTORS® (NAR).

CATEGORIES
AUGUST 2008
AUGUST 2009
PERCENT CHANGE
Total property sales
6,635
5,904
-11.0%
Total dollar volume
$1,253,229,302
$1,079,356,968
-13.9%
Total active listings
52,831
46,023
-12.9%
Total pending sales
4,299
3,901
-9.3%
Average single-family sales price
$222,638
$213,396
-4.2%
Median single-family sales price
$159,900
$160,880
0.6%
Months inventory*
6.7
6.5
-3.0%
* 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
At $160,880, the median sales price for single-family homes reached the third highest level of 2009, up 0.6 percent from August 2008, when it was $159,900. August also marked the fourth consecutive monthly increase in the median price. The national single-family median price reported by NAR is $178,300, illustrating the continued higher value and lower cost of living that the Houston market offers consumers. The average price of single-family homes in August was $213,396, slipping 4.2 percent from one year earlier.
August sales of single-family homes in Houston totaled 5,058, down 10.1 percent from August 2008, and accounted for the 24th consecutive monthly drop. However, on a month-over-month basis, that volume is the third highest of 2009, and the 10.1 percent decline is the second smallest fluctuation of the year following July’s 6.1 percent (corrected) slide.
HAR also reports existing home statistics for the single-family home segment of the real estate market. In August 2009, existing single-family home sales totaled 4,328, an 8.3 percent decrease from August 2008. At $155,000, the median sales price for existing homes in the Houston area rose 4.0 percent compared to last year. The average sales price of $202,477 for the month dipped 1.6 percent from its August 2008 level.
Townhouse/Condo Update
The number of townhouses and condominiums sold in August fell compared to one year earlier. In the greater Houston area, 452 units were sold last month versus 555 properties in August 2008, translating to an 18.6 percent decrease in year-over-year sales. However, that still represents the third highest month-over-month sales volume of 2009.
The median price of a townhouse/condominium fell 10.3 percent year-over-year to $122,000. The average price dropped 9.7 percent to $153,184 from August 2008 to August 2009.
Lease Property Update
Demand for single-family home rentals rose slightly in August, up 1.2 percent compared to a year earlier. Year-over-year townhouse/condominium rentals climbed 5.9 percent.
Houston Real Estate Milestones in August
The median price of a single-family home rose for the fourth straight month to the third highest level of 2009 ($160,880);
The average price of a single-family home reached its third highest level of the year ($213,396);
Month-over-month volume of single-family home sales reached the third highest level of 2009;
Month-over-month volume of townhouse/condominium sales reached the third highest level of 2009;
Month’s inventory of single-family homes dipped from 6.7 to 6.5 months compared to the national average of 9.4 months.

The computerized Multiple Listing Service of the Houston Association of Realtors® includes residential properties and new homes listed by 23,000 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 53,000 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 23,000-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 membership trade association in Houston, as well as the second largest local association/board of Realtors® in the United States.

Source HAR.com