Despite falling oil prices and layoffs, Houston and the North to West quadrant of Houston are still experiencing strong sales. Prices for single family homes are significantly higher over last year in the Multiple Listing Service areas known Areas 8, 10, 25 and 35 (see graphic below). And luckily for buyers, slightly higher inventory is making it easier to find homes.
HOUSTON MARKET REPORT COMPARED TO GENERAL NORTHWEST AREA**
Houston | MLS AREAS 8,10,25,35 | |||
CATEGORIES | SEPTEMBER 2014 | SEPTEMBER 2015 | SEPTEMBER 2014 | SEPTEMBER 2015 |
Single-family home sales | 6,463 | 6,691 | 913 | 909 |
Single-family average sales price | $269,629 | $270,901 | $216,474 | $230,271 |
Single-family median sales price | $199,000 | $208,000 | $175,100 | $197,000 |
Single-family months inventory* | 2.9 | 3.5 | 1.9 | 2.3 (as of 10/17/15) |
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