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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®
June 2001 Sales
Homes Sales Stay Strong Despite Tropical Storm
 
HOUSTON (July 18, 2001) – Houston home sales remained strong despite Tropical Storm Allison, according to statistics released today by the Houston Association of Realtors Multiple Listing Service. The number of homes sold in June increased during the last month to 5,727 from 5,632. However sales decreased 2.5 percent when compared to June 2000, falling to 5,727 from 5,872.The median price of single-family homes increased to $131,250 from last month’s record amount of $124,960, marking the highest median price ever recorded in Houston. As a result of the high median price, the total dollar volume rose to close last month at $931,524,182, an increase of 7.3 percent compared to last month’s total of $867,937,359.
May 2001 to June 2001 Comparison
  May 2001 June 2001 Percent Change
Total home sales 5,632 5,727 +1.69%
Total dollar volume $867 million $931 million +7.33%
Median price $124,960 $131,250 +5.03%
Days on market 74 77 +4.05%
Active listings 28,457 28,456 +0.31%
“Despite the truly encouraging numbers, many people in Houston are still without homes,” stated Todd Mason, chairman of the Houston Association of Realtors. “We are seeing a high demand for homes under $150,000 and realtors in the hardest-hit areas are working non-stop to help people find new homes to purchase or to rent.”

June Comparison

While June existing home sales were slightly lower than last year’s total, the median price of $131,250 for single-family homes was 7.6 percent higher than last June’s $122,000. Due to an increasing median price, the total dollar volume rose to close last month at $931,524,182, an increase of 3.2 percent compared to last June’s total of $903,026,533.

Buyers opened 3,963 contracts in June, 6.2 percent fewer than June 2000. Open contracts, also referred to as pending sales, are a traditional indicator of sales projected to close within the next 30 to 60 days.

Compared to last June’s 68 days on the market, single-family existing homes sold this June spent nine more days on the market.

Available inventory rose to 28,546 last month, up slightly over 28,457 in May. This also represents an 11.1 percent increase in active listings compared to 25,698 for the same month last year. Additionally, this is the largest available inventory of homes in Houston since August 1997.
June Comparison
  June 2000 June 2001 Percent Change
Total home sales 5,872 5,727 -2.5%
Total dollar volume $903 million $931 million +3.2%
Median price $122,000 $131,250 +7.6%
Days on market 68 77 +13.2%
Active listings 25,698 28,456 +11.1%
High-Rise Properties, Townhouse/Condo and Country Homes Update

HARMLS reported a tremendous decrease in the median price for high-rise properties for June, dropping 27.2 percent to $211,000 from last year’s $290,000. High-rise sales decreased 19 percent to 34 last month compared to 42 in the same month last year.

Townhouse/condominium figures rose last month with 555 sales and a median price of $78,280 compared to June 2000’s totals of 534 and $71,950, respectively. Country home figures increased as well in median price by 18.2 percent from $110,000 last June to $130,000 this year, while sales decreased from 27 last June to 22 this year.

2nd Quarter Comparison

The Houston Association of Realtors reported that 16,278 homes alone were sold in the second quarter of 2001 resulting in a total dollar volume of more than $2.5 billion. This marks a slight increase over second quarter 2000 in the number of homes sold, with a 7.2 percent increase in dollar volume.

Throughout the second quarter of 2001, the median price of single-family homes climbed 4.6 percent from $125,500 in April to $131,250 in June.

Inventory increased by 12.9 percent from April to June, while the average number of days on the market for single-family homes dropped slightly from 81 days to 77 days.
2nd Quarter Comparison
  2nd Quarter 2000 2nd Quarter 2001 Percent Change
Total home sales 15,875 16,278 +2.5%
Total dollar volume $2,391,281,639 $2,564,520,555 +7.2%
Avg. active listings per month 25,130 28,385 +12.9%
Total contracts opened 11,992 11,729 -2.2%
Avg. days on market 70.7 77.3 +9.3%
 
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