Archive for the ‘Memorial’ Category
Memorial Real Estate Market report for April 2008
May 7th, 2008 categories: Market Stats, Memorial
Sales for homes in the Houston Memorial area for April 2008
The number of active listings has climbed from 183 homes at the end of March to 196 now.. # of homes sold last month fell from 24 in March to 18… so, the absorption rate climbed to almost 11 months.
It hasn’t turned into a buyer’s market yet though as sellers are holding their prices fairly firm… on average only giving up just under 1.5% off the asking price. To get those sales moving in the right direction they would do well to accept some offers and be a bit more flexible during the negotiations.
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Houston Memorial Real Estate Market report for March 2008
April 2nd, 2008 categories: Market Stats, Memorial
The Memorial real estate market hasn’t shown quite the phenomenal month that was produced by River Oaks, but, even with a slug of additional properties active on the market, the absorption rate has improved slightly from 8.3 to 8.0. So, a sign that the market is picking up. There are a number of deals pending which was actually a similar story last month with way 40 deals pending (in various stages) but it turned out to end up being only 23 deals sold? A bunch of problems at the closing table or maybe inspections didn’t turn out quite right… who knows.
Everyone should work harder at holding these deals together… negotiate, compromise, work together… but, get the deals done!!! That way everyone can move on!
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Houston Memorial Real Estate Market Report - February 2008
March 4th, 2008 categories: Market Stats, Memorial, Real Estate News
Closed deals are up from 13 last month and, looking at the number of “pending” deals March should be a phenomenal month!! (if all the pending deals close!). So, the market seems to be picking up in line with the weather warming up.
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Houston Memorial Real Estate Market Report - January 2008
February 3rd, 2008 categories: Market Stats, Memorial
Almost exactly 10% of the active listings sold in the Houston Memorial area in January 2008. The absorption rate (how long it will take existing inventory to sell at current rate of selling) is very similar to that for River Oaks at just over 10 months. Definitely a buyer’s market.
That makes sense as the areas are very close together and the average selling prices are very similar with Memorial selling at close to $1 million and River Oaks selling at just over $1 million.
The fact that it’s a buyer’s market is underscored by the fact that the selling prices as a percentage of asking prices is almost 10% lower. So, if you’re a buyer looking for a home in the Houston area of Memorial, start off at least 15% less than asking price, you could get lucky!
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Houston Memorial Real Estate Market Report - December 2007
January 7th, 2008 categories: Market Stats, Memorial
Not a bad number of homes sold in Memorial this month. The average asking price per square foot exceeds average selling price per square foot by quite a distance.
Either buyers are going to have to offer more or sellers are going to have to come down to meet them. It’s a pretty big gap right now!
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