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Houston area Sales in March 2007

By Lance Langenhoven

Real Estate Agent with The Oscar Group, a Keller Wiliams team

April 24, 2007 03:41 PM

This is the story from HAR:

All Categories	March 2006	March 2007	Percent Change
Total property sales	8,042	7,267	-9.6%
Total dollar volume	$1,471,571,858	$1,442,635,610	-2.0%
Average single-family sales price	$192,194	$205,815	+7.1%
Median single-family sales price	$143,170	$150,590	+5.2%
Active listings	41,948	47,872	+14.1%
Pending sales	5,506	5,653	+2.7%
Months inventory*	5.2	5.5	+5.2%

* Months inventory estimates the number of months it will take to deplete current active inventory based on the prior 12 months sales activity. This figure is representative of the single-family homes market.

Interestingly... number of deals went down by almost 10% but the average price of a single-family home still goes up by just over 7%!!! Not bad in this market.

Why did number of sales go down in March? Easy one... sub-prime lenders crash & burn and many, many deals fall by the way-side.

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