Heights sales numbers for July represent a very healthy market. The Houston market as a whole has been seeing very good numbers the past few months and the Heights falls in line with this. Year-over-year numbers were up for homes sold, average sales price and median sales price.

The number of Heights homes sold in July was 71. This amounts to a modest 2.9 percent increase over the 69 homes sold in the area in July 2014, but any sales increase over a robust 2014 is a positive. In addition, it is the most Heights homes sold in any month this year.

Sales prices have been on the rise in Houston and prices in the Heights are up as well. The average sales price in the Heights in July rose to $663,040. This represents a 14.4 percent increase over the average sales price of $579,348 in July 2014. Median sales prices in July were 15.8 percent higher than in July 2014. This is an increase from $539,900 to $625,000.

While year-over-year sales prices were up a significant amount in the Heights, the prices per square foot did not see nearly as large of a jump. The average sales price per square foot only increased 4.8 percent from $270.72 to $283.84 year-over-year. And the median price per square foot essentially stayed the same. It was $282.97 this July compared to $282.27 in the previous July. This means that the higher prices in July were likely a result of many larger houses being sold.

Sales and prices were up in July, but days on the market (DOM) were also up. The average DOM rose 10.9 percent from 46 last July to 51 this July. Median DOM nearly doubled year-over-year from 11 to 21. That is a 90.9 percent increase! The sharp increase in DOM can be largely contributed to high inventory levels. The Heights currently sits at 6.5 months of inventory. That is well above Houston’s 3.4-months supply and even higher than the national average of 5.0 months of inventory. The combination of good sales numbers despite increasing DOM reflects the Heights’ high inventory levels.

Looking to buy or sell a home, or just have questions about the market? Always feel free to contact me at 713.829.3052 or cynthia@cynthiamullins.com.

...............................................................................................
visit my entire blog at http://blogs.har.com/cynthiamullins

client experience rating: http://goo.gl/bCoMo
email cynthia@cynthiamullins.com
follow me at www.twitter.com/cynthiamullins
friend me at www.facebook.com/cynthiamullins1
my stats: http://goo.gl/hFWEoR

see what people like about the Heights and what they think is its best kept secret at www.youtube.com/cynthiamullins

Houston condominiums, Houston high-rises, Houston home builders, Houston home prices, Houston home rentals, Houston home value, Houston homes, Houston homes for rent, Houston homes for sale, Houston house, Houston house value, Houston houses, Houston housing, Houston listings, Houston MLS, Houston neighborhoods, Houston new homes, Houston properties, Houston property, Houston real estate, Houston real estate agents, Houston real estate associates, Houston real estate brokers, Houston real estate companies, Houston real estate firms, Houston real estate information, Houston real estate listings, Houston real estate market, Houston real estate schools, Houston real estate service providers, Houston real estate solds, Houston real estate values, Houston real estate, Houston realtors, Houston relocation, Houston schools, Houston single family homes, Houston sold home prices, Houston sold homes, Houston subdivisions, Houston town homes, Houston heights real estate housing market homes for sale buying selling inner loop properties Houston Texas TX OPEN Houses 1545 Heights Boulevard, Houston, TX 77008 77007 77009 Houston heights realtor Woodland Heights Norhill Sunset Heights HISD Hogg Middle School IB Program Harvard Elementary Hamilton Middle School Reagan High School