Houston Real Estate Sales Continue to Rise as Inventory Increases!

The Houston housing market eked out another month of positive sales in July with prices up and the supply of homes continuing to grow, albeit slightly. Sales volume reached the highest monthly total ever recorded.

Housing inventory, which fell to 40-year lows earlier this year, has edged up each of the last three months, reaching a 3.0-months supply in July. Prices climbed to the highest levels for a July, but were lower than June’s all-time record highs. Sales among homes priced between $250,000 and the millions showed the greatest strength, while Days on Market, or the number of days a home takes to sell, fell to a record low of 45.

Single-family home sales totaled 7,769 units, up 1.0 percent compared to July 2013, according to the latest monthly report prepared by the Houston Association of Realtors (HAR). That represents a record high one-month sales volume. New listings of single-family properties this month rose 5.5 percent, translating to 10,390 properties, which helped boost inventory from June’s 2.9-months supply to 3.0 months. That is still below the 3.4-months supply of inventory one year earlier and significantly lower than the current national supply of 5.5 months of inventory.

The average price of a single-family home jumped 6.4 percent year-over-year to $277,023. The median price—the figure at which half the homes sold for more and half for less—increased 6.8 percent to $202,000.

“July did not bring the most dramatic sales performance we’ve ever seen, but the numbers are headed in the right direction,” said HAR Chair Chaille Ralph with Heritage Texas Properties. “We are Read the rest of this entry »

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Houston Home Sales Break Historical Records!

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Houston’s housing market refuses to lie down and take it. After the first decline in three years in May, home sales charged back into the black in June, most likely the result of an increase in new listings of properties. Those new listings may finally be helping feed the voracious appetites of home buyers who have been stymied by the lowest inventory levels in 40 years.

While inventory improved slightly to a 2.9-months supply, the month of May also saw home prices reach new record highs, with sales among homes priced between $250,000 and $500,000 showing the greatest strength. Days on Market, or the number of days a home takes to sell, reached the lowest level of all time – 46.

Single-family home sales totaled 7,553 units in June, up 4.5 percent compared to June 2013, according to the latest monthly report prepared by the Houston Association of Realtors (HAR). New listings rose 6.7 percent, helping nudge inventory up from May’s 2.8-months supply to 2.9 months. However, that is still lower than the 3.3-months supply of inventory in June 2013 and significantly below the national supply of 5.6 months of inventory.

The average price of a single-family home jumped 6.6 percent year-over-year to $283,697. The median price—the figure at which half the homes sold for more and half for less—soared 11.3 percent to $214,000. Both are historic highs for Houston.

“June’s positive sales performance is a testament to the strength of the Houston housing market,” said HAR Chair Chaille Ralph with Heritage Texas Properties. “We were thrilled to see home sales rebound after May’s decline and we hope that as new listings come onto the market and home construction continues, inventory levels will rise to a point where we can truly say that balance has been restored.” Read the rest of this entry »

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Chevron Aquires Katy Location to Expand into Our Wonderful Part of Town

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Here we go again! Adding jobs, spurring home sales and new construction. Katy continues to flourish with the announcement of Chevron adding a division on the Grand Parkway in Katy. This is a major land acquisition, 103 acres at the southwest corner of the Grand Parkway at Clay Road in Katy.

According to The Houston Chronicle, “The acquisition, which is expected to close in the third quarter, will give the company “future research and development facilities flexibility,” Chevron spokesman Justin Higgs said in an email.”

In addition to this development, a very busy Costco recently open at the intersection of I-10 and the Grand Parkway. Memorial Hermann is also expanding its facilities at this intersection.

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Plan to Attend Bridgeland’s Wonderful Nature Fest on April 26th, 2014!

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Bridgeland’s Nature Fest 2014 is certain to be a wild adventure with amazing new acts and returning festival favorites! It will be held next Saturday, April 26th. from 10:00 am until 5 p.m. at Bridgeland’s Oak Meadow Park.

To watch a video of last year’s celebration, click this link: 2013 Nature Fest.

Back for a third year is Staples Safari Zoo – a menagerie of more than 100 animals!  This group, led by Brian Staples, will entertain guests throughout the day with hourly animal shows, including the Primarily Primates performance, which will feature a capuchin monkey who starred with Eddie Murphy in “Dr. Dolittle.” Staples is also bringing some new animals that were recently rescued, including a lion cub named Rory and a baby water buffalo named Jackson.  More surprises are sure to delight guests of all ages!

Join us at 11:30 for a Guinness World Records attempt for most people bird-calling!  The first 1,000 people will receive an official attempt t-shirt. We will begin admitting participants into the area at 11:15. Birding experts Gary and Kathy Clardwill instruct the participants on how to mimic the call of a Northern Cardinal.  Sara Wilcox, a representative from Guinness World Records will be onsite to adjudicate the attempt and grant the award.

Enjoy stage performances throughout the day presented by Crocodile Encounte Birds of Prey, Circus Safari and much more. A second stage hosted by Brian Staples will contain a variety of comedic animal shows.

Additional activities planned include outdoor laser tag, a trackless train, pony and camel rides, a Read the rest of this entry »

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Katy Home Prices Continue to Rise as Demand Outweighs Supply

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Pictured above is a Cinco Ranch Southwest home that I listed in late February. We had 18 showings the very first day and four offers. It sold for $10,000 above list price cash!

I have never, in my 24 years of selling Katy real estate, seen a market as ferocious as this one! It’s a seller’s dream come true and a real challenge for buyers. Buyers definitely need to be working with a Realtor so they can get into see the new listings as soon as they go on the market!

March brought about the 34th consecutive month of positive home sales, despite the record low 2.6-month supply of inventory that has prevailed throughout 2014.

According to the latest monthly report prepared by the Houston Association of Realtors (HAR), home sales rose 3.7 percent year-over-year, with March single-family home sales totaling 5,971. That is the largest one-month sales volume recorded since last September.

The supply of homes first reached 2.6 months of inventory in December 2013 and has held steady ever since. However, it is down from the 3.5-month supply in March 2013 and significantly lower than the national supply of 5.2 months of inventory.

The average price of a single-family home increased 11.0 percent year-over-year to $261,329. The median price—the figure at which half the homes sold for more and half for less—climbed 9.8 percent to $189,900. Both figures represent the highest prices Houston has ever seen in a March.

Single-family homes priced from $250,000 through the millions saw the greatest sales activity and accounted for the latest jump in prices. Homes priced at $150,000 and below experienced declines.

“Houston home sales rose again in March, with most of the buying taking place at the higher end of the market,” said HAR Chair Chaille Ralph with Heritage Texas Properties. “We’ve also seen Read the rest of this entry »

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Cinco Ranch #3 Top Selling Neighborhood in the Nation!

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That figure was enough to put Cinco Ranch third nationally. 

“We are very pleased and excited to be No. 1 in Texas and No. 3 in the nation,” said Heather Gustafson, Cinco Ranch Director of Marketing. “We have great schools, great amenities, great roadway links and a variety of homes for different needs.”

Cinco Ranch is due to complete development in 2017.  By then, the neighborhood is expected to number 15,000 homes and have new water slides, tennis courts and additional playgrounds.

 Here are the developments in the Houston area that made the list:

 3. Cinco Ranch, Katy, TX.

6. Riverstone, Houston, TX.

8. The Woodlands, Houston, TX.

13. Cross Creek Ranch, Fulshear, TX.

15. Aliana, Houston, TX.

16. Woodforest, Montgomery, TX.

17. Sienna Plantation, Houston, TX.

18. CanyonLakes West, Cypress, TX.

To tour these outstanding neighborhoods, call me at 713-818-2404 or email me at [email protected]. I have sold Houston real estate for over 24 years and would love to share my expertise with you. Experience does count!

 

 

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Homes Sale Slowdown? Not in Houston!

You won’t find signs of the traditional autumn slowdown in the Houston real estate market as August provided a 27th consecutive month of positive home sales. Following July’s small uptick in home inventory, buyers once again outpaced sellers in August, sending months of inventory from 3.4 to 3.3 months versus 4.9 months at the same time last year.

According to the latest monthly report prepared by the Houston Association of REALTORS® (HAR), home sales climbed 16.2 percent year-over-year, with contracts closing on 7,504 single-family homes. Monthly home sales volume has topped the 7,000 mark for four straight months, matching levels last seen in the spring of 2007.

The median price of a single-family home—the figure at which half the homes sold for more and half for less—rose 12.8 percent to $186,200. The average price increased 16.4 percent year-over-year to $260,607. Both figures represent the highest prices ever seen in an August in Houston.

August brought gains to all housing segments except the under-$80,000 market. Homes selling from $250,000 through the millions registered the greatest increase in sales volume.

“This has definitely been a summer sales season unlike any we have seen before,” said HAR Chairman Danny Frank with Prudential Anderson Properties. “Our small bump in inventory in July was short-lived as consumers bought faster than homeowners sold in August. It’s difficult to say exactly when Houston’s boiling real estate market will begin to cool down.”

Foreclosure property sales reported in the HAR Multiple Listing Service (MLS) dropped 47.0 percent compared to August 2012. Foreclosures currently make up just 7.7 percent of all property sales, down Read the rest of this entry »

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Make the Home Improvements Buyers Most Want

 
The most important home features buyers want are the ones that keep them cool, entertained and give them room to store their stuff.
 
Central air conditioning, (a “given”  in Houston), a walk-in closet in the master bedroom and being pre-wired for home entertainment and Internet were the three home features most valuable to buyers according to the 2013 National Association of Realtors Profile of Buyers’ Home Features Preferences.
 
If resale is important to you, the survey offers insights on improvements that can help when you’re ready to sell and add to your enjoyment of your home now. Chances are your home already has air conditioning — most owner-occupied U.S. homes do. But you can add a master closet for roughly $3,000 to $10,000. Get the most from your new master closet by including a laundry area, Read the rest of this entry »

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David Weekley Homes and the New Cinco Ranch Development — Ashfield Gardens

 

David Weekley

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Ashfield Gardens is an exclusive new area within Cinco Ranch. It offers easy access to freeways, shopping, entertainment, restaurants, 11 swimming pools, tennis courts, bike/walking trails and an 18 hole golf course. Set right in the heart of Cinco Ranch, this luxury development has its  own “residents only” Clubhouse.

The Clubhouse offers a wonderful center in which to entertain when residents don’t want to entertain at home. It features a  great room, game/card room, kitchen, outdoor kitchen with  living space and a full exercise room. There is also a gorgeous fire pit. It’s a grand gathering place in which to hold club functions. A part-time activities hostess is coming soon.

David Weekley Homes has especially designed new home plans with this section in mind. The David Weekley Homes incorporate an open, (no wasted space concept), which includes living space both inside and outside. There is an understated sense of luxury!

Plans range from 2255 square feet up to 3200 square feet. All can be personalized to fit the Read the rest of this entry »

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Cinco Ranch’s Heritage Grand Offers Residents a Grand Lifestyle

 
Heritage Grand in Cinco Ranch is a grand lifestyle for active adults over 55-years old! Part of the master-planned community Cinco Ranch, this gated community is in an ideal location, just west of Houston in Katy. Heritage Grand offers spacious Luxury Homes so residents can spend time enjoying their new life.
 
Heritage Grand active adult community sets the standard for lifestyle, fulfillment and value. This unique resort-at-home community provides a private world where friendships flourish.
 
Today, there are five patio homes on the market ranging in price from $200,000 to $372,300. There are eight homes that are sale pending! This is indicative of the bustling market in Heritage Grand. If you are shopping for a home in Heritage Grand, call me so we can get started looking right away! Read the rest of this entry »

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