The Woodlands Real Estate: Cheryle Sanderson, #1 Prudential Realtor® In The Woodlands Texas

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Posted April 29th, 2010

Houston Market Conditions

 Homes Priced Above $250,000 experience increased demand.

The Houston single-family residential real estate market is experiencing some unusual statistics as it marches into 2010. With 8% fewer home sales and 11% fewer contracts written, how do average and median sales prices of homes go up in comparison to 2009? The answer is in the price classes of homes that have closed this year. Homes priced above $250,000, for the most part, experienced an overall sales decline in 2009.

Now comes closed sales in the first two months of 2010, and all price classes above $250,000 have experienced increases. The two price class exceptions were the $700,000-$799,999 and $900,000-$999,999. These two price classes are at the same level of demand as found in 2009.

What’s also unusual? Home price classes below $250,000 have all experienced single to double digit declines in the first two months. These price classes were in highest demand this time last year.

At least for the two months of 2010, there has been resurgence in higher end housing demand and a decline in price classes below $250,000.

Houston Hotness Index Reports

The Houston real estate market is so large and complex that we thought we would post how each market area ranks in terms of hotness each month.  Many people ask us how do you explain "hotness" to people?

A hotness ranking in real estate refers to the number of pending sales [buyer demand] that occurred during a month in relation to its active inventory [homes currently on the market for sale].  These statistics refer to data listed in the Houston Association of Realtors Multiple Listing Service and are fairly representative of each real estate market. Data includes both new and existing homes listed in the system.

Houston Hotness Index Report for February 2010 The Woodlands is area 15!

HAR MLS HOTNESS INDEX FEBRUARY 2010
Rank Area Area Name Hotness Ratio Pending Sales Sales Active Listings Months Inventory
1 36 South Katy Area 17.5 141 163 807 3.5
2 12 North 16.9 115 120 682 4.7
3 28 Alief Area 13.4 40 35 299 5.4
4 25 Far West 13.1 139 157 1,059 4.9
5 37 Ft.Bend West 12.8 108 86 843 5.5
6 26 Waller County 12.5 18 11 144 10.3
7 3 Southeast 12.5 93 95 746 5.8
8 11 Near North 11.9 51 68 428 5.6
9 38 Ft.Bend East 11.6 80 88 689 5.8
10 35 Hempstead West 11.3 68 84 600 5.4
11 30 Ft.Bend Southwest 11.0 66 70 599 5.7
12 15 Montgomery County Southwest 10.7 171 174 1,593 6.0
13 21 Bellaire West 10.4 10 11 96 5.2
14 7 Clear Lake Area 10.2 70 92 684 5.1
15 5 Brazoria County 10.2 147 156 1,440 6.6
16 40 Montgomery County Southeast 9.9 33 37 334 7.7
17 1 Northeast 9.9 116 132 1,177 6.6
18 2 East 9.7 112 121 1,157 8.0
19 8 Bear Creek 9.6 72 94 751 4.9
20 29 Ft.Bend Central 9.4 56 94 593 4.7
21 10 Hempstead East 9.4 76 107 812 5.4
22 20 Bellaire South 9.3 35 48 376 5.1
23 32 Far Northeast 9.0 42 48 467 5.5
24 13 Northwest 8.8 96 134 1,087 5.7
25 14 Far Northwest 8.8 71 93 807 5.9
26 6 Pasadena Area 8.7 43 57 494 6.1
27 34 Aldine-Westfield Area 8.5 16 21 188 8.7
28 4 South 8.3 24 28 289 9.7
29 53 Chambers County 8.1 12 13 148 7.2
30 19 Montgomery County Northeast 7.8 36 50 462 7.2
31 39 Montgomery County Northwest 7.1 57 75 803 8.6
32 43 Walker County 7.0 11 14 157 7.2
33 23 Memorial 6.6 18 33 271 5.9
34 33 Galveston County 6.6 165 204 2,502 9.4
35 31 West 6.6 24 43 366 6.3
36 16 Central 6.2 32 37 518 9.9
37 52 Liberty County 5.7 13 16 228 9.8
38 17 Southwest 5.7 34 52 600 7.8
39 24 Spring Branch 5.6 17 53 301 5.9
40 9 Central North 5.4 57 122 1,060 6.7
41 22 Central West 5.2 16 37 307 7.8
42 64 San Jacinto County 2.2 4 14 185 13.5



Posted December 7th, 2009
Houston Association of Realtors® MLS Ranking Report
Top Ten Companies | November YTD 2009
Category: Single Family, Townhouse/Condo, Lots, Multi-Family, Country Homes/Acreage, Mid/Hi-Rise Condo
Status: A
Current Listings - Data Run December 7, 2009
Area: All Areas

Rank
Broker Code
Company Name
# of Listings
Volume
Average
% Total
1 GGPR
 Prudential Gary Greene Realtors®
 2205 $674,252,111.00
 $305,783.00  4.81
2 COLD
 Coldwell Banker United, Realtors
 1636  $487,542,780.00  $298,009.00  3.57
3 PBME
 Realty Associates
 1366  $255,710,769.00
 $187,196.00  2.98
4 RELM
 Realm Real Estate Professional
 695  $133,792,175.00  $192,506.00  1.52
5 TRNR
 Martha Turner Properties
 686  $636,775,088.00  $928,243.00  1.5
6 KWLC
 Keller Williams Realty Conroe
 672  $129,148,630.00  $192,185.00  1.47
7 KWHM
 Keller Williams Realty
 529  $221,636,038.00  $418,971.00  1.15
8 KWWD
 Keller Williams Realty
 526  $162,520,126.00  $308,973.00  1.15
9 HTEX
 Heritage Texas Properties
 513  $219,293,358.00  $427,472.00  1.12
10 CREG
 Champions Real Estate Group
 469  $85,404,373.00 $182,098.00
 1.02

Houston Association of Realtors® MLS Ranking Report
Top Ten Companies | November YTD 2009
Category: Single Family, Townhouse/Condo, Lots, Multi-Family, Country Homes/Acreage, Mid/Hi-Rise Condo
Status: Listings Sold YTD through December 7, 2009
Current Listings - Sold By Company
Area: All Areas

Rank
Broker Code
Company Name
Sold Listings
Volume
Average
% Total
1 GGPR
 Prudential Gary Greene Realtors®
 2984 $651,369,084.00
 $218,287.00  5.08
2 COLD
 Coldwell Banker United, Realtors
2630  $596,564,713.00  $226,830.00  4.48
3 PBME
 Realty Associates
1527  $220,260,447.00
 $144,243.00  2.6
4 RMXF
RE/MAX Fry Road
1043  $193,878,431.00  $185,885.00  1.78
5 HTEX
 Heritage Texas Properties
967  $279,062,143.00  $288,585.00  1.65
6 TRNR
 Martha Turner Properties
898  $485,125,641.00  $540,228.00  1.53
7 PDMI
 Perry Development Management
833  $228,335,666.00  $274,112.00  1.42
8 RELM
Realm Real Estate Professional
828  $147,773,927.00  $178,470.00  1.41
9 RMCR
 RE/MAX Cinco Ranch
770  $130,742,337.00  $169,795.00  1.31
10 RMNW
RE/MAX Northwest REALTORS
740  $124,413,849.00 $168,126.00
 1.26

Houston Association of Realtors® MLS Ranking
Top Ten Companies | November YTD 2009
Category: Single Family, Townhouse/Condo, Lots, Multi-Family, Country Homes/Acreage, Mid/Hi-Rise Condo
Status: Total Units and Dollar Volume Sold TYD through December 7, 2009
Sold - Data Run December 7, 2009
Area: All Areas

Rank
Broker Code
Company Name
Sold Listings
Volume
Average
% Total
1 GGPR
 Prudential Gary Greene Realtors®
 5903 $1,316,306,291.00
 $223,041.00  5.73
2 COLD
 Coldwell Banker United, Realtors
5429  $1,247,034,701.00  $229,611.00  5.43
3 TRNR
 Martha Turner Properties 1636  $849,959,638.00
 $517,291.00  3.7
4 GKPI
Greenwood King Properties
1123  $669,537,742.00  $595,455.00  2.92
5 PBME
 Realty Associates
4062  $607,221,863.00  $148,445.00  2.64
6 HTEX
 Heritage Texas Properties
1898  $554,529,209.00  $292,233.00  2.42
7 DGTY
 John Daugherty, Realtors®
873  $472,375,588.00  $534,428.00  2.06
8 KWHM
Keller Williams Realty
1373  $368,044,818.00  $269,143.00  1.6
9 RELM
 Realm Real Estate Professional
2063  $347,435,763.00  $170,069.00  1.51
10 KWWD
Keller Williams Realty
1367  $328,621,368.00 $240,669.00
 1.43


Posted May 11th, 2009

 

Houston Real Estate Market Overview - April Year-to-Date 2009

Houston’s current inventory is down 21% from this time last year, with 27,857 single-family homes on the market. Even more interesting, current inventory for April is down from last month by 1% and with each month that passes in 2009, the percentage decline in home sales from the year before assuages. This is contrary to the national scene depicting an overabundance of homes on the market and record foreclosures.

Over the last year, Houston home price classes have changed in hotness. Last year, homes on the market priced $900,000 and above experienced a 21% increase in demand. All other price classes’ year-to-date April 2008 experienced a decline in demand in comparison to 2007 except for homes priced $79,999 and below. The year 2008 was a year of price demand at the lowest and highest extremities of the price class spectrum. In addition, the 21% increase in demand in the $900,000 and up price class last year skewed the statistics to reflect a higher average sales price that did not reflect reality. Today, homes priced $900,000-$999,999 are down 31% and homes priced over $1,000,000 are down 44%. These factors help more clearly explain how average sales prices are highly affected by extremes, and the median sales price is the best barometer for a markets health. The median price is the mid point price in the market where half the homes sold above and half sold below. It is not affected by price ranges at the extremes of the price class spectrum.

The graph depicted below displays the top ten hottest selling home prices for April year-to-date 2009 based on number of home sales by price class.
The Top Ten Hottest Selling Price Classes of single-family homes in Houston year-to-date are:
 Price Class
 Sales Year To Date
 Active Listings
 Months of Inventory
 $200,000-$249,999  1,377  2,700  6.1
 $250,000-$299,999  918  2,303  7.7
 $300,000-399,999  909  2,767  8.4
 $120,000-129,999  809  1,199  4.7
 $110,000-119,999  762  1,253  5.2
$100,000-109,999  693  789  3.9
 $90,000-$99,999  684  1,066  5.5
 $140,000-$149,999  682  1,098  5.1
 $80,000-$89,999  679  886  4.4
 $150,000-$159,999  671  1,096  5.1

As you can see, most of the top 10 selling price classes have healthy months of inventory and many will enjoy single digit appreciation. Also, it can be observed in the graph that the higher the price class, the higher the number of listings and the higher the months of inventory. Price classes that made the above Top Ten Selling Price Classes April year-to-date 2009 will most likely continue to see a healthy buyer demand throughout the spring and summer months.

In comparison to April year-to-date last year, single family homes are experiencing the following:
  • Sales are down 21% with 14,799 sales
  • Dollar volume is down 28% with $2,735,391,577
  • Average sales price is $184,836 or 9% lower than last year, up by 1% from last month.
  • Median sales price is $140,500 or 6% lower than last year, up by 1% from last month.
  • Pending sales are 11,969 or 22% lower than last year
  • Active listings are 27,857 or 21% lower than last year.
There are two things to keep in mind when reviewing the above April YTD Comparison:

1. We are comparing this year to the third best year in Houston residential history.
2. Every metric noted above is an improvement from February year-to-date, so with each month that passes, Houston real estate is improving.

Houston home buyers can capitalize on an $8,000 tax credit for first-time home buyers through the economic stimulus package, and interest rates are at record lows. These factors together with Houston’s positive employment base and affordable housing should stimulate an increase in home sales in the months to come. Prudential Gary Greene, Realtors® experienced a record sales month in April – one of the best since Hurricane Ike. As the economy continues to recover and people begin to feel more confident about the future and a greater sense of job security, Houston real estate will rise to the occasion

posted on October 9, 2008


Houston Real Estate Market for September YTD 2008

Houston has been a bright spot in real estate on the national scene this year, and in September, Hurricane Ike knocked some of the wind out of its sails. For much of the month, the city grappled with power outages, wind debris and restoration of homes and offices. Add to that the announcement from the U.S. Treasury Secretary Henry Paulson of government seizure of Fannie Mae and Freddie Mac immediately followed by the whole government bailout debacle and the recipe for real estate was not favorable. At this writing, the government continues its efforts to restore confidence in the financial markets and the secondary mortgage market. Houston is back in business and thriving on an economy blessed with energy, oil, world-class medical centers and a nationally strategic port. While we have much to be thankful for, Houston has been  impacted by the national credit crunch, and tightening credit scenarios that have restricted lending growth everywhere, but also has a hangover from Hurricane Ike.  It is strongly believed that sometime between now and the conclusion of the Presidential campaign and election,  Houstonians can refocus on its positive economy and enjoy a more normal real estate market.

Houston, pre-Hurricane Ike experienced 13% YTD August fewer home sales than in 2007, the best year in real estate in Houston history. September 2008, the month when Hurricane Ike paid us a visit, the city saw 30% fewer homes sales during the month, 27% less dollar volume sold, active listings went down 12% and contracts initiated during the month were down by 38%. The bright spot on the market for September was that average sales price for the month was 4% higher than found last September [$211, 660] and the median was 5% higher [$157,500]. The average and median sales price increase are the complete opposite of the nationwide declining home values.

Houston Single-Family Real Estate Market
 September YTD 2008
 %Yr. Ago  TYD September 07
 # Sales YTD September
 46,304  -15%
 Dollar Volume Sales
 $9,866B  -12%
 Avg. Sales Price
 $213,074  3%
 Median Price
 $155,000  1%
 Avg. Days on Mkt.
 84  10%
 Pending contracts
 33,018  -16%
 # of Listings
 35,338   0%

September YTD 2008 in Comparison to September YTD 2007

As the above table depicts, the Houston single-family home sales are down by 15% in sold units in comparison to September YTD 2007 sales and has experienced 46,304 MLS recorded sold units.

Dollar volume sold in MLS through September YTD 2008 is $9,866,172,127, representing a 12% decline. With fewer home sales, it is logical that dollar volume sales would follow the same trend. The most amazing fact is that it appears that the hurricane had an overall year-to-date impact of 2% fewer sales than where the market has been trending. We most likely will see some catch-up activity in October and November that will bring this market aberration back to its trend pattern of 13% fewer sales. Again, the comparison of fewer home sales is a comparison to the best year in residential history for Houston, 2007.   It is also interesting to note that while sales are down by 15% from last year, the dollar volume closed is only down by 12% from last year.

Active listings are exactly the same as 2007 with 35,338 single-family properties currently available. Supply of homes on the market has definitely been impacted by Hurricane Ike. This is the first month during the year that supply of homes was not higher than last year.

Average sales price YTD is $213,074 or 3% greater than last year. Houston is not a market where average sales prices are falling. In contrast, they are rising as they have historically, at a slow and steady pace. For example, the average sales price in 2005 YTD September was $191,827. Houstons current average sales price is 11% higher than 2005.

The median price is $155,000 and that represents a 1% increase from last year. In 2005, the median sales price was $145,000 and so in 3 years, the median has risen 7%. This is proof positive that Houston was never a participant in the real estate bubble that was so prevalent in national markets.

Contracts written, which represent September YTD buyer demand in Houston are down by 16% over last year with 33,018 homes reported as pending year to date. This statistic and closed sales have been the most impacted by Hurricane Ike because the month saw such a huge drop in these areas in comparison to last year.

Average sales price per square foot is $90, which represents a 1% increase in value over last year.

Days on the Market have gone up by 10% since last year and the average time to sell a home in Houston is 84 days.

 All of the key drivers of a positive real estate market are present in Houston, and one of the reasons that despite a hurricane and a national credit crunch, Houston still boasts a positive median and average sales price. Future growth predictions and the current lull in the market indicate that today is probably the best time to invest in real estate in Houston.

Stay tuned for next months report on Houston.

 


posted on July 24, 2008


Houston Market Real Estate Report including surrounding areas:

June YTD 2008 Single-family home sales

Anyone sitting on the real estate sidelines from a media-induced coma needs to wake up and smell the future in Houston, Texas.  Yes, the Houston residential real estate market is experiencing a temporary lull as shown by the statistics below, but it is not from a lack of a robust job market and economy. Houston is the fourth largest city in the United States, located in a culturally diverse metropolitan region, which is home to 5.6 million residents.  The city is growing at twice the national pace.  It has one of the lowest costs of living, an educated workforce and is home to 88 consulates, which is a testament to its international influence.

For a concise picture of the Houston real estate market, go to www.Houston.org/rankings and you will find 26 national publication rankings of first place in job growth, business climate, health care and lower cost of  living.  The factors ranked are key drivers of any real estate market, and one of the reasons that despite a temporary slow down, Houston still boasts a positive median and average sales price. It also indicates that today is probably the best time to invest in real estate in Houston.

 Real Estate Reality
 June YTD 2008
 %Yr. Ago 2007
 June YTD 2005
 % Yr. Ago 2004
 2008 vs. 2005
 # Sales YTD June
 30,857  -13%  31,067  8%  -.66%
 Dollar Volume Sales
 $6.466B  -11%  $5.734B  12%  +13%
 Avg. Sales Price
 $209,545  2%  $184,565  4%  13.5%
 Median Price
 $152,000  0%  $139,500  3%  +.9%
 Avg. Days on Mkt.
 85  10%  83  -1%  2.4%
 Pending contracts
 23,138  -13%  23,042  13%  4.166%
 # of Listings
 35,634  5%  30,448  7%  17.03%

I predict that this year may end up the same or slightly above the third greatest year in residential history, based on the similar number of sales found June YTD 2008 as those found in June YTD 2005 and a 4.166% higher number of units pending this year than those found in 2005.  We are currently experiencing a more positive real estate market than 2005 in terms of higher dollar volume sold, higher average sales price, median sales price and pending contracts.

Jobs, interest rates and favorable home prices drive real estate, so we have an economy poised to not only absorb the additional inventory, but to move beyond previous growth cycles and set new records.
 
June YTD 2008 in Comparison to June YTD 2007

As the above table depicts, the Houston single-family home sales are down by 13% in sold units in comparison to June YTD 2007 sales and has experienced 30,857 MLS recorded sold units.

Dollar volume sold in MLS through June YTD 2008 is $6,465,919,739, representing an 11% decline.  With fewer home sales, it is logical that dollar volume sales would follow the same trend.

Active listings are up by 5% with 35,634 single-family properties currently available.  Last month, the increase was 6%, and in April it was 8% so it appears that supply is slowly moving in a more positive direction.

Average sales price YTD is $209,545 or 2% greater than last year.  While this is a small increase, it substantiates the opposite experience heard frequently in the national news. Houston is not a market where average sales prices are falling.  In contrast, they are rising as they have historically, at a slow and steady pace.  The average sales price in 2005 was $184,565, or 13.5% less than current.

The median price is $152,000 and that represents no change from last year.  In 2005, the median sales price was $139,500 and so since that time, the median has risen 9%.

Contracts written, which represent June YTD buyer demand in Houston are down by 13% over last year with 23,138 homes reported as pending year to date.  Contracts written in 2005 were 4.166% fewer than found this year.  This indicates that 2008 will either exceed or at least stay even with the third greatest year in residential history, 2005.