spacer
MLS Press Release

Media Contacts

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®
January 2001 Sales
Home Sales Defy Slowing Economy
Total Home Sales, Median Price and Active Listings Reach All-Time Highs for January
 
HOUSTON (February 19, 2001) – After a record-setting 2000, and despite a ‘close to stalling-out economy’ according to Alan Greenspan, the Houston real estate market picked up in 2001 exactly where it left off last year. The existing home sales market demonstrated record growth for the month of January, according to statistics released today by the Houston Association of Realtors’ Multiple Listing Service. Total sales topped out at 2,909 and the median price for single-family homes rose to $115,000, both figures established new records for the month of January.

As a result, the total dollar volume closed last month was $420,772,797, an increase of 2.9 percent compared to last January’s total of $408,881,561. Single-family existing homes spent 87 days on the market, a slight increase of 3.6 percent from last year’s 84 days on the market. Total sales for single-family homes rose to 2,366 an increase of 4.1 percent from last year establishing another new record for the month of January.

“This year’s sales are off to a strong start,” said Todd Mason, chairman of the Houston Association of Realtors. “January typically is one of the slowest months of the year for home sales. The decrease in interest rates, combined with a robust Houston economy is driving the record-breaking sales. We should continue to see this trend grow especially if interest rates continue to decrease to stimulate the local economy.”

Existing home sales peaked at 2,909, representing a 3.6 percent increase from last year’s total of 2,808. The median price of $115,000 was 5 percent higher than last January’s $109,500. The number of pending sales decreased to 2,900 compared to 2,984 last January. Available inventory rose to 25,739 last month, compared to 24,623 in December, representing a 4.5 percent increase.
January Comparison
  January 2000 January 2001 Percent Change
Total home sales 2,808 2,909 + 3.6%
Total dollar volume $408 million $420 million +2.9%
Median price, single-family $109,500 $115,000 + 5.0%
Days on market 84 87 + 3.6%
Active listings 23,274 25,739 + 10.6%
High Rise Properties, Townhouse/Condo and Country Homes Update

HARMLS reported a dramatic increase in the median price for high rise properties for January, rising 63.5 percent to $255,000 from last year's $156,000. However, high rise sales decreased to 20 last month compared to 29 in the same month last year.

Townhouse/condominium figures rose slightly last month with 315 sales and a median price of $72,000 compared to January 2000's totals of 296 and $66,000 respectively. Country homes increased in median price by 23 percent from $97,500 last January to $120,000 this year.

Top MLS Areas in January

Among the MLS areas experiencing significant increases in median price in January over last year were:
  • Area 1 (Northeast) – from $92,450 in 2000 to $116,000 this year;
  • Area 4 (South) – from $43,750 to $81,650;
  • Area 16 (Central) – from $285,000 to $400,000;
  • Area 20 (Bellaire South) – from $99,500 to $124,880;
  • Area 24 (Spring Branch) – from $88,000 to $107,500;
  • Area 31 (West) –from $126,500 to $154,000;
  • Area 33 (Galveston County) – from $99,250 to $118,000; and
  • Area 34 (Aldine-Westfield) – from $60,000 to $78,700.
  •  
    The computerized Multiple Listing Service of the Houston Association of Realtors includes residential properties and new homes listed by 11,000 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 largest local Realtor association in the nation. Residential home sales statistics as well as listing information for more than 25,000 homes can be found on the Internet at http://www.HAR.com.

    The information published and disseminated to the HAR Multiple Listing Service (MLS) is communicated verbatim, without change by MLS, as filed by MLS participants. The MLS does not verify the information provided and disclaims any responsibility for its accuracy. All MLS data is preliminary and subject to change. Monthly sales figures reported since August 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 January 1988.)

    Media Contacts

    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