Houston’s Southampton neighborhood, by the numbers is a Sellers’
market. During the first nine months of 2009 40% more homes were
sold than in the same period 2008. The median price is up and inventory
is down. As of October 1, the inventory level in Southampton was 6.5
months, a seller’s market by most measurements.
In previous posts I have explained how the inventory level is calculated
and how to interpret it. Please read those previous posts for more
information.
Shown below is a table showing inventory levels in River Oaks/Avalon
by price range using both the Standard Method and the Six Month
Method. The Standard Method uses sales for the past 12 months and
the Six Month Method uses sales from the past six months. With the Six
Month Method showing an inventory level below four months for homes
under $1 million, there is a need for more homes on the market, or
price increase can be expected. The six month level of inventory for
homes over $1 million is very different from most areas of Houston.
If you want more detailed information about this neighborhood or
others, call me at 713.942.6895 or email tom@tomdplant.com.
MONTHS OF INVENTORY
Southampton
October 1, 2009
Standard Method
Six Month Method
Under $750,000
4.6
3.7
$750,001 - $1,000,000
5.0
3.8
$1,000,001 - $2,000,000
9.8
6.0
Over $2,000,000
6.0
6.0
Total
6.5
5.0
