Multiple Listing Service of the Houston Association of REALTORS® includes residential properties and new homes listed by 50,000 REALTORS®
MLS Report for September 2009 | ||||||||||||||||||||||||||||||||
Houston Property Sales Show Expected Strength in September Compared to the Month of Hurricane Ike |
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Year-over-year single-family home sales soar 32 percent and median price edges up further |
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HOUSTON (October 20, 2009) Hurricane Ike sidelined Houstons real estate business for several weeks after tearing through the region in September 2008, so it comes as no surprise that property sales one year later surged into positive territory. September Monthly Market Comparison |
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* Months inventory estimates the number of months it will take to deplete current active inventory based on the prior 12 months sales activity. This figure is representative of the single-family homes market. | ||||||||||||||||||||||||||||||||
September sales of single-family homes in Houston totaled 4,792, up 32.0 percent from September 2008. This effectively ends 24 consecutive months of declining sales volume. HAR also reports existing home statistics for the single-family home segment of the real estate market. In September 2009, existing single-family home sales totaled 4,074, a 35.6 percent increase from September 2008. At $149,000, the median sales price for existing homes in the Houston area was flat compared to last year. The average sales price of $192,487 for the month slid 2.7 percent from its September 2008 level. Townhouse/Condo Update The median price of a townhouse/condominium edged down 0.8 percent year-over-year to $126,000. The average price dipped 2.1 percent to $157,776 from September 2008 to September 2009. Lease Property Update Houston Real Estate Milestones in September Single-family homes sales rose 32.0 percent, ending 24 consecutive months of declining volume; The median price of a single-family home rose for the fifth straight month to the highest level ever recorded in a September ($156,200); The average price of a single-family home reached the second highest level ever recorded in a September ($205,925); Months inventory of single-family homes dropped from 6.4 to 6.2 months compared to the national average of 8.5 months. |
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The computerized Multiple Listing Service of the Houston Association of Realtors® includes residential properties and new homes listed by 24,000 Realtors® throughout Harris, Fort Bend and Montgomery counties, as well as parts of Brazoria, Galveston, Waller and Wharton counties. Residential home sales statistics as well as listing information for more than 50,000 properties may be found on the Internet at https://www.har.com. |