I’m so excited to announce that we have an awesome addition to Candice Skoby & Associates. Amanda Borham-Hernandez is a welcomed addition and will assist in the expansion of our team as we take Luxury to a new level in the Katy/Richmond/Houston real estate markets!
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.”
Foreclosure property sales reported in the HAR Multiple Listing Service (MLS) fell again, diving 46.6 percent compared to June 2013. Foreclosures now comprise just 4.4 percent of all property sales, down from an 8.4 percent share a year earlier. The median price of foreclosures jumped 20.0 percent to $108,000.
June sales of all property types totaled 9,099 units, a 5.3-percent increase compared to the same month last year. Total dollar volume for properties sold rose 12.9 percent to $2.4 billion versus $2.2 billion a year earlier.
It’s still a GREAT time to sell in the Houston/Katy/Richmond areas! Please let Candice and Associates know how we can assist you with your real estate needs.
With the real estate market booming in the Houston Area Market our office has begun to see a huge demand of buyers who are seeking out quality builders who build on YOUR own property and or looking for that special custom home.
Homes By David Powers has 35 Years of Building Experience with Outstanding Customer Service. They offer an In-House Architecture Department to Customize a Floorplan and Elevation to meet your custom needs. Their private design center and exclusive designer is there to work with you on all of your interior and exterior selections.
Our team’s past buyers who have the highest expectations of excellence in what they want in a home and who desire to work with a builder who uses the highest building standards available and the latest energy features, can’t say enough about Home By David Powers . Whether you choose them to build on your own lot or choose to build in one of their exclusive communities Homes By David Powers definitely will exceed your expectations.
If you need any further assistance in choosing a top builder in the Houston area. please don’t hesitate to let our team at Candice and Associates know.