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The months of inventory listed in the entire Houston MLS continues on at 5.6
months. There are now 41376 homes on the market and the adjusted number of sales are at 7388 New Listings this week were 3980 This is an increase in the new listings from the week before. This past week 953 homes went under contract which is about the same amount of new contracts accepted compared to last week. Lastly, 1756 homes closed in the last 7 days.
County……………. New Listings……..New Sold
Harris County …………..1816…………...….814
Montgomery County……558…….....……....266
Galveston County….…….278………..…...…..122
Fort Bend County………..583……….……....235
Brazoria County………….199……...…...........95
Waller County....................104..........................28
Months of inventory and Active Single Family Listings by County:
Harris County………………5.0………………………….16701
Montgomery County…….…5.2.………………………….6364
Galveston County………….6.6...………………………...3010
Fort Bend County…………..5.3.……………………….…5163
Brazoria County………........5.5…………………………. 2338
Waller County.......................6.5......................................1022
The week after Labor Day week has turned out to be rather interesting. The market settled a bit and the months on the market remained the same. New listing was up, meaning sellers are jumping back in the market but the total listings remains basically the same. The new contracts were almost equal to last week. Even with interest rates climbing buyers are still entering the market.And the number of sales climbed this week meaning all those contracts accepted in August are coming to close.
The number of foreclosures has risen through out the overall MLS, In the 6 counties I focus on, the number is right at 270 foreclosures available for purchase.
Compared to this week last year, we are down 11.2 % in pending sales and down 12 % 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.
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