Monthly Housing Update
A comprehensive overview of monthly property sales activity for the Greater Houston area as recorded in the MLS.
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Send emailMultiple Listing Service of the Houston Association of REALTORS® includes residential properties and new homes listed by 50,000 REALTORS®
| April 2002 Sales | ||||||||||||||||||||||||
| Houston Home Sales Show Strong Gains | ||||||||||||||||||||||||
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HOUSTON (May X, 2002) - The Houston real estate market, as reported in Houston’s Multiple Listing Service, experienced
strong gains among home sales last month, resulting in the highest amount of home sales ever recorded during the month
of April, according to statistics released today by the Houston Association of Realtors’® Multiple Listing Service.
Total sales for the month, consisting of single-family homes, townhomes, multifamily, country homes, high-rise
properties and lots listed on the MLS, reached 5,422 for April 2002, which is a 10.2 percent increase in cumulative
sales from this time last year. Last year’s total sales for April 2001 reached 4,919. When total cumulative sales
figures for April 2002 are compared with March 2002, sales increased by a total of 521 properties sold. The total dollar volume closed last month was $876,938,814, an increase of 14.6 percent compared to last April’s total of $765,059,014. The number of pending sales increased this year to 4,195 from 3,872 in 2001. Available inventory rose to 29,627 in April, compared to 28,630 the previous month. “The improving economy encouraged home buyers to get into the market and drive existing home sales to a new record for the month of April,” said HAR Chairman Shad Bogany. “This paired with the already low interest rates should produce another record-breaking year.” |
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Single-family homes update Single-family homes spent 79 days on the market, down two from last year’s 81 days on the market. Total sales for single-family homes rose to 4,435 an increase of 9 percent from last year. The median price of $129,920 was 3.5 percent higher than last April’s $125,500. In March, 2,434 single-family homes sold for less than $149,999, a decrease of 187 units from this time last year. Mid-priced home sales, homes ranging from $150,000 to $499,999, grew from 1,288 in March 2001 to 1,403 this year. Additionally, 129 homes sold for more than $500,000. Townhouse/Condo and Country Homes Update Townhouse/condominium figures increased last month to 576 sales with a median price of $94,750 compared to April 2001’s totals of 505 and $80,000, respectively. Country homes, or homes with 10 or more acres, decreased in median price from $140,000 last year to $121,550 this year. Sales increased to 40 from 31 last April. |
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The computerized Multiple Listing Service of the Houston Association of Realtors includes residential properties and
new homes listed by 16,000 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 listings can be found on the Internet at https://www.HAR.com. 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.) |
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