League City Housing Market 2nd Quarter: year over year comparison.
A 2nd quarter year-over-year review of the League City housing market shows a slight, but continued boost to housing activity as new listings entered the market.
According to the data for League City (pulled from the Houston Association of Realtors (HAR), a total of 526 homes sold in the 2nd quarter ending June 2016, compared to 508 a year earlier (2015) - statistically up 3.54%.
The average League City sales price bumped up 3.40%. The total price increase reported in HAR, *Houston MLS was up 2.7% in the year over year comparison.
Days on Market:
Also of note: although average days on market for League City homes is shown as 41.83 days… the average time on market for properties $200,000 and under was an incredible 16.4 days on market, compared to 49.63 days on market for homes over $200,000. Thus, the incredible frustration felt by many home buyers that find themselves continuing to lose out in multiple bid situations.
Median Home Prices:
In League City’s 2nd quarter review, the single-family home median price - the figure at which half of the homes sold for more and half sold for less - rose 0.20% to $248,500.
In comparison, June median adjusted sales price (price after any seller concessions to buyer are deducted) was $246.000 compared *Houston’s median sales price in June of $300,178.
Whereas June sales for all property types totaled 190 sales up - only 1.03% increase from June sales last year - June sales of all property types in *Houston MLS totaled 9,139, (down 0.9% from the same month last year).
In summary, there is little change in League City monthly housing indicators overall compared to those from a year earlier.
Bottom Line, is the indicators continue to reflect market sustainability. That's a good thing!
*Note. When referring to Houston or Houston MLS this reflects not just the city of Houston but all areas serviced by the Houston MLS.
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