HOUSTON HOME SALES FALL FOR A SECOND STRAIGHT MONTH IN NOVEMBER 2015

HOUSTON HOME SALES FALL FOR A SECOND STRAIGHT MONTH IN NOVEMBER 2015

As reported by Houston Association of Realtors, Houston Home sales fall for the second straight month in November 2015.  Home sales fell and brought the average price down with them, marking the first price decline since February 2012.

According to the latest monthly report prepared by the Houston Association of Realtors (HAR), November single-family home sales declined 10.5 percent with a total of 4,595 sales compared to 5,135 a year earlier in November 2014.

Only homes in the $150,000 to $250,000 price range experienced positive sales volume. That, coupled with a 22 percent drop in luxury home sales, accounted for the decline in average price.  Among the homes that did sell in November, Days on Market (DOM), or the number of days it took the average home to sell, increased.

Slower sales did allow for a slight improvement in months of inventory.  Months of inventory signifies the estimated time it would take to empty out current active housing inventory based on sales over the previous 12 months.  This number increased from a 2.7-months supply last November to a 3.4-months supply. Inventory has held at about a 3.5-months supply for the past five months and remains below the current national housing supply of 4.8 months of inventory.

CATEGORIES NOVEMBER 2014 NOVEMBER 2015 CHANGE
Total property sales 6,255 5,623 -10.1%
Total dollar volume $1,621,016,494 $1,401,611,221 -13.5%
Total active listings 27,374 33,272 21.5%
Single-family home sales 5,135 4,595 -10.5%
Single-family average sales price $271,487 $262,064 -3.5%
Single-family median sales price $195,750 $200,000 2.2%
Single-family months inventory* 2.7 3.4 28.7%
Single-family pending sales** 5,993 5,617 -6.3%


Houston Real Estate / November Highlights:


  • Single-family home sales saw a decline of 10.5 percent compared to November 2014

  • Total property sales dropped 10.1 percent (5,623 units);

  • Total dollar volume decreased 13.5 percent to $1.4 billion;

  • At $262,064, the single-family home average price saw its first decline since February 2012;

  • At $200,000, the single-family home median price achieved a November high;

  • Single-family homes months of inventory climbed to a 3.4-months supply versus 2.7 months a year earlier;

  • Townhomes/condominium sales dropped 10.3 percent with the average price down 9.3 percent to $183,884 and the median price down 15.2 percent to $130,000;


This newly released data, coupled with the Feds warning of gradual interest rate increases in 2016, makes now a great time to buy.  


Source: Newsroom, Houston Association of REALTORS



Mary Watts Headshot
Author:
Phone: 832-331-4209
Dated: December 26th 2015
Views: 1,161
About Mary: Mary Watts is Owner & Founder of Mary Watts Realty Group at Delux Realty. She is a committed profess...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Tamarron Katy Texas -
2017 Homestead Exemption - If you closed a home in Texas in
Harris County Updated Flood Maps - Real Estate Update for all Harris
File Your Homestead Exemption NOW - Did you buy a new home in 2015?

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Mary Watts Realty Group
440 Cobia Dr, Suite 2001
Katy, TX
832-463-2819


Other Locations