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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®
February 2001 Sales
Houston Gears Up for Home-Buying Season
Houston Association of Realtors Releases February Home Sales Figures
 
HOUSTON (March 21, 2001) – Houston’s real estate market experienced a 6.3 percent decrease in total sales this month, leaving an extra 200 homes on the market, according to the statistics released today by the Houston Association of Realtors’ Multiple Listing Service. With more homes on the market, both buyers and sellers can prepare for a market-topping, home-selling season. The Houston market saw a 12 percent increase in the available inventory this month, and the median price of single-family homes continued to rise to $118,560. The active listings for the month of February increased by 2.9 percent from last month.

Total sales decreased to 3,624 resulting in a 6.3 percent decline from last year’s 3,866 total sales. As a result, the total dollar volume closed last month was $546,442,907, a decrease of 1.2 percent compared to last February’s total of $553,096,447. Single-family existing homes spent 86 days on the market, a slight increase of 6.2 percent from last year’s 81 days on the market. Total sales for single-family homes dropped slightly to 2,956, a decrease of 7.1 percent from last year for the month of February.

“The beginning of this year’s home-buying season appears to offer a great potential for many prospective home owners,” said Todd Mason, chairman of the Houston Association of Realtors. “In the past, Houston has experienced such a strong seller’s market that the level of available inventory has actually been quite low, and the inventory has not been able to rise toward a level of balance between buyers and sellers. Although it is still a seller’s market, with the increase in the number of homes available, conditions are beginning to balance and become more favorable for buyers. Compared with the rest of the country, Houston buyers will experience reasonable prices, as the sellers continue to reap the benefits of a strong market.”

Active listings peaked at 26,481, representing a 12.6 percent increase from last year’s total of 23,524. The median price of $118,560 was 3.8 percent higher than last February’s $114,250. The number of pending sales decreased to 3,294 compared to 3,548 last February.

Available inventory rose to 26,481 last month, compared to 25,739 in January, representing a 2.9 percent increase.
February Comparison
  February 2000 February 2001 Percent Change
Total home sales 3,866 3,624 - 6.3%
Total dollar volume $553 million $546 million - 1.2%
Median price, single-family $114,250 $118,560 + 3.8%
Days on market 81 86 + 3.8%
Active listings 23,524 26,481 + 12.6%
High Rise Properties, Townhouse/Condo and Country Homes Update

HARMLS reported a decrease in the median price for high rise properties for February dropping 19.8 percent to $210,000 from last year's $262,000. High rise sales also decreased to 19 last month compared to 30 in the same month last year.

Townhouse/condominium figures rose slightly last month with 420 sales and a median price of $78,000 compared to February 2000's totals of 392 and $79,250 respectively. Country homes decreased in median price by 15.5 percent from $115,570 last February to $97,700 this year.

Top MLS Areas in February

Among the MLS areas experiencing significant increases in median price in February over last year were:
  • Area 1 (Northeast) – from $89,900 in 2000 to $112,000 this year;
  • Area 16 (Central) – from $285,000 to $305,500;
  • Area 20 (Bellaire South) - from $100,000 to $113,790;
  • Area 21 (Bellaire West) - from $89,900 to $109,900;
  • Area 24 (Spring Branch) – from $88,000 to $107,500;
  • Area 23 (Memorial) - from $305,000 to $360,000;
  • Area 30 (Fort Bend Southwest) - from $137,250 to $167,500;
  • Area 35 (Hempstead West) - from $119,900 to $146,740; and
  • Area 36 (South Katy Area) - from $135,000 to $158,000.
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    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.)