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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 2003 Sales
Houston Home Sales Break Record in June
Year-to-date Home Sales Exceed Last Year
 
HOUSTON (July 17, 2003) - Houston's property sales in June broke records as they reached the highest number of sales ever recorded in a single month. According to the Houston Association of REALTORS®' Multiple Listing Service, June property sales, consisting of single-family homes, townhomes, multifamily, country homes, high-rise properties, lots and new homes listed on the MLS, topped out at 6,311, pumping more than $1 billion into Houston's economy in one month. Additionally, year-to-date sales for 2003 grew to 30,413, up 1.7 percent from last year's total of 29,918.

"This month's record-breaking volume of sales was the extra push the Houston market needed to catch up for the year," said HAR Chairman Dovie Morgan. "Last month we were 90 sales behind 2002; this month we have pulled ahead of last year by nearly 500 sales. And with pending sales up 16 percent, we can assume that next month will also be strong."

Pending sales serve as the traditional indicator of listings scheduled to close within the next month.
June Market Comparison (all categories)
June 2002 June 2003 Percent Change
Total home sales 5,726 6,311 +10.2%
Total dollar volume $971,073,986 $1,074,517,132 +10.7%
Active listings 31,650 37,832 +19.5%
Pending sales 3,605 4,189 +16.2%
 
Active Listings Increase in Second Quarter

Available inventory grew during the second quarter to 37,832 in June, from 35,854 active listings in April. The average number of available listings during the second quarter increased to 36,803, representing a 20.2 percent jump from last year's second quarter average of 30,617.

"It's interesting how our sales and inventory both continue to grow. Typically, rising inventories indicate decline in sales," said Morgan. "The increase in inventory presents Houston homebuyers with greater choices within a still-competitive market."
2nd Quarter Comparison
All Classes 2nd Quarter 2002 2nd Quarter 2003 Percent Change
Total home sales 17,192 17,582 +2.3%
Total dollar volume $2,838,090,394 $2,897,298,291 +2.1%
Active listings 30,617 36,803 +20.2%
Pending sales 11,863 12,154 +2.5%
 
June single-family homes update

Total sales for single-family homes increased by 10.2 percent to 5,222 from last year's 4,737. The median price of single-family homes jumped to $140,000, representing the highest median price ever recorded in Houston. Last June's median price was $135,000. Within this category, 652 of the homes sold were new homes listed by Realtors, versus 609 new homes sold through the MLS during June 2002*.

Houston real estate milestones
  • Highest number of total sales ever recorded in single month
  • Highest level of available inventory since May 1988
  • Total dollar volume for single month exceeded $1 billion dollars
  • Highest single-family median price ever recorded
  • * 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 more than 17,000 Realtors throughout Harris, Fort Bend and Montgomery counties, as well as parts of Brazoria, Galveston, Waller and Wharton counties. For specific questions regarding a certain area, contact your Realtor. 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.)

    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 34,000 listings can be found on the Internet at http://www.HAR.com.

    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