HOUSTON - (February 21, 2012) — The Houston housing market held to positive territory as 2012 began, with January marking the eighth consecutive month of increased home sales. The year also opened with a continued decline in active property listings and growth in pending sales—a combination that signals a healthy market with a balanced supply of housing inventory, and that puts Houston on enviable footing compared to many other markets around the U.S. that are slowly recovering from the housing downturn.
January sales of single-family homes climbed 9.2 percent versus one year earlier, according to the latest monthly data prepared by the Houston Association of REALTORS® (HAR). All segments of the housing market grew except the luxury segment—those homes priced from $500,000 and above—whose decline flattened the overall average price.
January sales of single-family homes in Houston totaled 3,049, up 9.2 percent from January 2011. This marks the eighth consecutive monthly increase.
Broken out by segment, January sales of homes priced below $80,000 rose 6.4 percent; sales of homes in the $80,000-$150,000 range climbed 12.4 percent; sales of homes between $150,000 and $250,000 were up 17.6 percent; sales of homes ranging from $250,000-$500,000 advanced 4.8 percent; and sales of homes that make up the luxury market—priced from $500,000 and up—declined 2.1 percent.
At $194,765, the average price of single-family homes was statistically unchanged from last January, resulting from the lower volume of luxury home sales. At $139,900, the median sales price for single-family homes rose 0.9 percent year-over-year. The national single-family median price reported by NAR is $164,500, illustrating the continued higher value and lower cost of living available to consumers in Houston.
HAR also breaks out the sales performance of existing single-family homes throughout the Houston market. In January 2012, existing home sales totaled 2,594, an 8.1 percent increase from January 2011. The average sales price declined 1.4 percent from last year to $181,310 and the median sales price also declined 1.4 percent to $125,000.
ZIP Codes: 77450, 77494, 77094, 77493, 77449, 77084 Approximate Location Boundaries: Katy, Fulshear, Brookshire and West Houston
Location Characteristics: West Houston and Katy real estate is primarily made up of family oriented communities with a mix of the well established subdivisions like Kelliwood, Nottingham Country, Williamsburg, Cinco Ranch, Grand Lakes, Seven Meadows and Green Trails as well as some of the newer master-planned developments such as Cross Creek Ranch, Firethorne, The Lakes of Bella Terra, Westheimer Lakes & Woodcreek Reserve. New homes and new shopping centers have been springing up consistently for the past 25 years spurred primarily by great schools and the close proximity to the "Energy Corridor". So if you haven't been to our neighborhood lately, you probably won't recognize it! Come see us in Katy. You'll love it. To get the latest information on what's happening now, call (281) 395-1234.
About Rick Dittemore:
"As your RealtorTM, it is my job to understand your needs and respond to them promptly, professionally and with integrity. It is my pledge to provide you with sound real estate advice, helping you to understand the wisdom of the decisions you make. Most importantly, my job is to provide you with results.
By being your RealtorTM, our relationship is built on trust. Value and service will be provided before, during and after the transaction so that your changing needs are always addressed and satisfied.
The real estate transaction is dynamic and complex. To insure that all stages of the process are handled efficiently, I've hired a team of real estate professionals who specialize in the different facets of the real estate transaction.
It is not only my business philosophy, but also a commitment to provide you with exemplary personalized service beyond your expectations. My practice is to listen, hear and truly understand your needs; a quality of business conduct that often seems to have been forgotten in todays fast-paced, highly automated society. My team and I thank you for the opportunity to be your real estate team of choice." You can contact Rick's Team at (281) 395-1234.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
