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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®
April 2001 Sales
Houston's Real Estate Market Kicks Off Homebuying Season with a Record Start
Totals Sales and Median Price Reach All-Time Highs
 
HOUSTON (May 21, 2001) – Houston’s home-buying season opened with a bang as all-time highs were reported for both total sales and median prices for the month of April, according to statistics released today by the Houston Association of Realtors’ Multiple Listing Service. Due to low interest rates, Houston recorded the best April ever with total sales of existing homes jumping to 4,919. The median price of single-family homes increased to $125,500, marking this as the highest-ever-recorded median price.Total sales of existing homes for the month of April increased 7.2 percent from 4,589 in April 2000 to this year’s 4,919. April’s total sales represent a 69.1 percent jump since January 2001. Single-family existing homes spent 81 days on the market, slightly longer than last April, which recorded 74 days on the market. A combination of the high median price and high volume of sales led to the total dollar volume closing last month at $765,059,014, an increase of 14.6 percent compared to last April’s total of $667,848,330.

"Low interest rates and a booming Houston economy are keeping us ahead of last year’s pace,” said Todd Mason, chairman of the Houston Association of Realtors. “The increase in total home sales demonstrates that home-buying season is beginning and the Houston real estate market is keeping pace with the rest of America. Additionally, even though the median price reached a record high, Houston Realtors are teaching consumers how to navigate the Houston real estate market and utilize the low interest rates to save money in the long run.” Buyers opened 3,872 contracts in April, an increase of 5.0 percent from April 2000. Open contracts, also referred to as pending sales, are a traditional indicator of closed sales 30 to 60 days ahead. April’s available inventory rose to 28,153, up from 27,272 in March, representing a 15.5 percent increase in the number of active listings compared to 24,375 for the same month last year.
April Comparison
  April 2000 April 2001 Percent Change
Total home sales 4,589 4,919 +7.2%
Total dollar volume $668 million $765 million +14.6%
Median price, single-family home $115,000 $125,000 +9.1%
Days on market 74 81 +9.5%
Active listings 24,375 28,153 +15.5%
High-Rise Properties, Townhouse/Condo and Country Homes Update

HARMLS reported a 63.3 percent increase in the total sales of high-rise properties in April, growing from 30 sales in April 2000 to 49 last month. The median price for high-rise properties in April rose 6.8 percent to $193,030 from last year’s $180,750. The townhouse/condominium market showed an increase of 19.1 percent in total number of homes sold, reporting 505 last month compared to last April where sales reached only 424 units sold. The median price decreased slightly by 1.2 percent to $80,000 compared to April 2000’s price of $80,950. Country homes rose significantly in median price by 23 percent from $113,860 last April to $140,000 this year. Total sales for country homes also showed a significant increase of 24 percent from 25 last April to 31 this year.

Top MLS Areas in April

Among the MLS areas experiencing significant increases in median price in April over last year were:
  • Area 23 (Memorial) – from $368,000 in 2000 to $420,000 this year;
  • Area 39 (Montgomery County NW) – from $120,000 to $165,000;
  • Area 4 (South) – from $57,900 to $94,950;
  • Area 26 (Waller County) – from $90,700 to $124,000;
  • Area 30 (Ft. Bend SW) –from $121,370 to $148,000;
  • Area 38 (Ft. Bend East) – from $102,000 to $128,000; and
  • Area 24 (Spring Branch) – from $95,500 to $120,000.
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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 28 surrounding counties, including 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