Annual Home Sales Improve In Houston

February 23, 2012 (Shirley Allen)

Monthly sales of existing single-family homes and condominiums in Houston fell from December to January but remained above year ago levels according to the latest data from the Houston Association of Realtors® (HAR).

An estimated total of 3,632 existing single-family homes and condos were sold in Houston in January. That was 33.5 percent lower than the 5,460 homes sold in December but 4.8 percent higher than the 3,467 homes sold in January 2011.

Existing single-family homes accounted for 3,049 of the total sales in January. That was 33.8 percent lower than the 4,604 homes sold in December but 9.2 percent higher than the 2,792 homes sold in January 2011.

The median sales price for an existing single-family home in Houston fell 12.6 percent to $139,900 from $160,000 in December but was 0.9 percent higher than the median price of $138,700 in January of 2011.

There was a 5.7 months supply of single-family homes available for sale compared to an 7.2 months supply in January of last year.

Wayne A. Stroman, chairman of HAR, stated, “The January report shows continued strength in the Houston housing market that we began seeing in the latter part of 2011, and it gives us cause for optimism as we look ahead to the typically active spring and summer buying months. We have also seen more jobs being filled locally and you generally don’t experience a strong real estate market without healthy employment.”

Condominium sales accounted for 271 of the total sales in January, down 30.2 percent from 388 sales in December and 2.9 percent lower than the 279 units sold in January of 2011.

The median sales price for a condo in January was $96,050, which was 37.1 percent lower than the $131,750 median sales price in December and 7.6 percent lower than the $104,000 median sales price for a condo in January of last year.

The number homes available for sale in the Houston area declined from a year ago, falling 15.1 percent from 49,523 in January of last year to 42,067 last month.

Tags: existing homes, condos, sales, median home prices, Houston

Source:
Houston Association of Realtors (HAR)