Last week of August weekly email

Happy Labor Day.

What do yall have in store for the weekend that is considered the end of Summer?

I think Charlie Brown has the right sentiment. Even though summer does not officially end until September 22, this weekend has always felt like the end of summer. The day off, the last cookouts, going to the lake, enjoying friends and family by the pool. School has started back for a lot of kids and daylight is leaving us a little earlier every day.

Yall have a great weekend and be safe.

5.2 Months of Inventory for the 6 counties surrounding Houston.

The months of inventory listed in the entire Houston MLS continues on at 5.5

months. There are now 41137 homes on the market and the adjusted number of sales are at 7479 New Listings this week were 3964 This is a increase in the new listings from the week before. This past week 1084 homes went under contract which is a small increase from the new contracts accepted compared to last week. Lastly, 2395 homes closed in the last 7 days.

County……………. New Listings……..New Sold

Harris County …………..1783…………...….1083

Montgomery County……576…….....……....360

Galveston County….…….258………..…...…..161

Fort Bend County………..551……….……....320

Brazoria County………….216……...…...........148

Waller County....................130..........................44

Months of inventory and Active Single Family Listings by County:

Harris County………………4.9………………………….16870

Montgomery County…….…5.2.………………………….6400

Galveston County………….6.6...………………………...3004

Fort Bend County…………..5.3.……………………….…5110

Brazoria County………........5.5…………………………. 2319

Waller County.......................6.2......................................976

The market dropped about 700 listings off the market this week. The number of months of inventory dropped to 5.5 months. Now this is only three days, and this drop comes from the lower inventory coupled with the number of total sales for the week. A positive result in the market is the number of new contracts for the week increased over the week. This means buyers are still out there looking for and contracting homes.

The number of foreclosures has risen through out the overall MLS, In the 6 counties I focus on, the number is right at 280 foreclosures available for purchase.

Compared to this week last year, we are down 25.5 % in pending sales and down 34.9 % in listings being removed from the market. That means we are under contract for fewer homes and fewer homes exited the market compared to last year.

Reach out to me if you would like a more personalized report for your home or if you are ready to talk about your real estate needs.

Current Activity in Your Area

Heights / Memorial Park / Near North Home

Memorial West / Energy Corridor Homes

The Woodlands Area Homes

Sienna Area Homes

Katy Southeast Area Homes

Cypress North Area Homes

Cypress South Area Homes

Pearland Area Homes

Reach out to me and let me know how I can help you today.

For purchases this week the rates have largely stay consistent at just above 6.75% and govt loans with PMI right at 6 3/4%. If you need any specific loan information, to include purchases, re-fi's and HELOCs give Brent a call.

Reach out to Brent for the latest information.

512.461.8055

Thank you for taking a few moments out of your day to read over this information. If there is anything in the world I can do to help you, please let me know.

Vanacor Properties

rcable@vanacor.com 281.615.3054

Broker License: 0498426

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The information contained in this Blog is an overview of different areas of the Houston Market. I will also bring in information that will be helpful for buying and selling the largest single investment a person will make.