Video: Real Estate Community Tour for 77024 (Houston, TX)
See Real estate community tour for 77024 (Houston, TX)
Welcome to August's Market Update. Let’s take a look at residential real-estate activity in your area during the month of July. The number of active listings was up 40% from one year earlier, and down 5% from the previous month. Even so, buyers still enjoyed a greater selection of homes today than they did one year ago. As you can see, the median listing price for the month was just under 1.25-million dollars. Compared to last year, the average number of days units spent on the market before being sold was up 31%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was just over 670-thousand dollars. The number of units sold decreased 40% year-over-year, and decreased 36% month-over-month. Fewer sales could indicate an opportunity for buyers to negotiate better terms. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.