MLS Press Release

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Public Relations Manager
3693 Southwest Freeway
Houston, TX. 77027
Phone: 713-629-1900 x258
E-mail: david.mendel@har.com
Chief Communications Officer
3693 Southwest Freeway
Houston, TX. 77027
Phone: 713-629-1900 x155
E-mail: matt@har.com
Multiple Listing Service of the Houston Association of REALTORS® includes residential properties and new homes listed by 36,000 REALTORS®
November Sales
Existing Home Sales Maintain Record-Setting Pace Through November
 
HOUSTON (Dec. 16, 2003) – Houston’s existing home market continues to grow as local home sales broke two records during the month of November, according to statistics released today by the Houston Association of RealtorsҮ Multiple Listing Service. Total sales for the month of November topped out at 4,226, an increase of 5.4 percent over last November’s total of 4,009. This represents the highest number of sales ever recorded in the month of November.

Additionally, the number of available properties in November 2003 consisting of single-family homes, town homes, multifamily, country homes, high-rise properties and lots listed on the MLS, topped out at 38,102, representing the highest level of inventory ever recorded in the month of November. Available properties totaled 33,810 during November 2002.

“This is the seventh consecutive month in a row that home sales broke monthly records,” said HAR Chairman Dovie Morgan. “The combination of the low interest rates and a high volume of properties on the market makes it at an ideal time for buyers.”

All listing categories combined, Houston’s market as a whole showed an increase across the board including sales, available inventory, pending sales and overall total dollar volume.
November Market Comparison (all categories)
All Classes November 2002 November 2003 Percent Change
Total property sales 4,009 4,226 +5.4%
Total dollar volume $681 million $702 million +3%
Active listings 33,810 38,102 +12.7%
Pending sales 2,601 3,057 +17.5%
 
Year-to-date total sales for 2003 continue to rise ahead of last year’s record-setting pace, with 58,409 listings sold to date. Last year’s existing sales through November 2002 totaled 54,798.

“Houston’s real estate market is on track for another record-setting year,” said Morgan. “We are less than 500 properties away from surpassing the total number of sales for the entire year and already Realtors are slated to close more than 3,000 properties in the month of December.”

Single-family Homes Update

Total sales for single-family homes increased 3.1 percent to 3,447 from last year's 3,342. Within this single-family home category, 468 of the homes sold were new homes listed by Realtors, versus 528 new homes sold through the MLS during November 2002.*

The median price of single-family homes dipped to $132,000 in November, compared to $133,000 last November.

Houston Real Estate Milestones
  • Highest number of sales ever recorded in the month of November
  • Highest number of available properties ever recorded in November
  • * This statistic represents new homes that are listed by Realtors and is not representative of all new homes sold in these areas.
     
    The computerized Multiple Listing Service of the Houston Association of Realtors includes residential properties and new homes listed by 18,000 Realtors throughout Harris, Fort Bend and Montgomery counties, as well as parts of Brazoria, Galveston, Waller and Wharton counties. The Houston Association of Realtors is the largest trade association in Houston and the second largest local Realtor association in the nation. Residential home sales statistics as well as listing information for more than 35,000 listings can 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 include 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.)