July 14, 2011 home sales rise

Jul 14, 2011

many parts of the country are facing astonishing numbers of foreclosures and short sales, the houston area real estate market continues to improve. we are very thankful to live in a well diversified area with many different types of jobs and opportunities. Energy is of course a major driving force of Houston's economical growth, but the houston area remains strong in other fields of business such as manufacturing, medical services, technology, industry and education. the luxury home market rising 25.7% in July.

Total property sales5,0915,96217.1%
Total dollar volume$1,070,466,812$1,270,258,33118.7%
Total active listings55,24750,022-9.5%
Total pending sales3,2673,65912.0%
Single-family home sales4,3135,03416.7%
Single-family average sales price$222,534$224,1100.7%
Single-family median sales price$159,490$160,0000.3%
Months inventory7.77.6-1.8%

Single-Family Homes Update

July sales of single-family homes in Houston totaled 5,034, up 16.7 percent from July 2010. This marks the third increase of the year after an 8.4 percent gain in January and 0.5 percent bump in June. The July number represents the second highest sales volume month of the year. June was higher with 5,570 homes sold.

On a year-to-date basis, sales are down 2.2 percent. When compared to July of 2009, a year in which there were no unusual real estate market influences such as Hurricane Ike in 2008 and the 2010 home buyer tax credit, single-family home sales were down 12.2 percent.

Broken out by segment, July sales of homes priced below $80,000 rose 15.8 percent; sales of homes in the $80,000-$150,000 range climbed 17.7 percent; sales of homes between $150,000 and $250,000 increased 18.5 percent; sales of homes ranging from $250,000-$500,000 advanced 13.7 percent; and sales of homes that make up the luxury marketpriced from $500,000 and upsoared 25.7 percent.

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