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Mark Brawley

Norhill Realty
(281) 650-3384 
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REAL ESTATE MARKET REPORT - 3RD QUARTER - GREATER HOUSTON

October 12th, 2009


In this month's newsletter, Norhill Realty presents our 3rd Quarter Market Report for the Greater Houston area.  This report tracks several key neighborhoods within Greater Houston's Inner Belt, and analyzes the number of sales, median days on market, median sales price, and months of inventory.  We then compare the 3rd Quarter figures with those of the previous Quarter. 
This month's report turned up some interesting figures. Here's a list of some of our findings:
  • Overall the number of single family homes and townhomes/condominiums sold grew 5% in the 3rd quarter. 
  • The average median price rose across all areas an average of 4% for single family homes and -3% for townhomes. Median Sales provides us insight into which price levels are selling more than others.  In the case of single family homes, it appears that more lower priced homes have been selling.  In the case of townhomes and condominiums, the opposite appears to be true.   
  • On average, the number of months of inventory is fairly stable.  The months of inventory for single family homes has actually fallen 1%, and the months of inventory for townhomes and condominiums has gone up 3%. 
Based on the numbers, it appears that we had a decent summer spike.  The number of sales went up and prices went up to match.  Based on our own observations of the market, it appears that many sellers and builders are willing to deal.  They are offering great buyer incentives and price discounts.  With rates hitting year to date lows in the past month, it appears to be a great time for buyers.   
To check out the full report, click the link below.  If you have any questions regarding the report or if you have questions regarding an area that Norhill's Market Report does not cover, please feel free to give me a call.  We look forward to your feedback.   
 

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Disclaimer : The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the Houston Association of REALTORS®
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Norhill Realty
617 W. 19th Street, Houston, TX 77008   Get Directions
Phone: (713) 869-5700
Fax: (713) 454-7235
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