HOUSTON — (January 17, 2012) — After several months in which home sales figures were skewed by the effects of the 2010 homebuyer tax credit, the Houston real estate market concluded 2011 solidly in the black. December marked the seventh straight month of increased home sales and the month contained a host of indicators suggesting a healthy start to the new year. Prices of single-family homes across Greater Houston for full-year 2011 were up slightly from 2010. The median price reached an all-time high for a December in Houston and months inventory hit its lowest level in two years.
The Houston housing market concluded calendar year 2011 with noteworthy gains in sales volume along with strong pricing. Single-family home sales rose 4.0 percent for the year while sales of all property types increased 4.3 percent. On a year-to-date basis, the average price rose 0.9 percent to $213,723 while the median price ticked up 0.7 percent to $155,000. Total dollar volume for full-year 2011 climbed 5.2 percent to $13 billion compared to full-year 2010.
December sales of single-family homes in Houston totaled 4,604, up 7.2 percent from December 2010. This marked the seventh consecutive increase of 2011. Broken out by segment, December sales of homes priced below $80,000 rose 10.2 percent; sales of homes in the $80,000-$150,000 range were up 3.1 percent; sales of homes between $150,000 and $250,000 climbed 7.3 percent; sales of homes ranging from $250,000-$500,000 advanced 12.8 percent; and sales of homes that make up the luxury market—priced from $500,000 and up—were unchanged.
At $219,791, the average price of single-family homes was statistically flat compared to last December. At $160,000, the median sales price for single-family homes reached a December high for Houston, rising 1.9 percent year-over-year. That compares to the national single-family median price of $164,100 reported by NAR.
HAR also breaks out the sales performance of existing single-family homes throughout the Houston market. In December 2011, existing home sales totaled 3,755, a 7.7 percent increase from December 2010. The average sales price edged up 0.9 percent from last year to $203,253 and the median sales price was flat at $145,000.
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.
