Vicky Halfon
Realtor, ABR,GRI, CNE, CLHMS, SRES
Halfon Real Estate, LLC

(713) 962-3405
713-962-3405
1500 S. Dairy Ashford, Suite 325
Houston, TX 77077
...
Vicky Halfon
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Bio

Vicky is a part of a great Team of Agents who are dedicated to providing outstanding Customer service which is demonstrated by the Company's Mission Statement: Fulfilling our Buyers and Sellers needs shall always be our primary concern. Working with a strong team, our Company will seek to provide professional services in a timely manner recognizing that the acquisition or sale of a home is not only a large financial decision, it is a very personal, and sometimes, emotional decision as well. Being sensitive to these factors will enable us to assist our clients in such a way that, ultimately, they will know that we care more about them than the real estate.

Fluent in English & Spanish
Skilled in Negotiating
Representation of Buyers and Sellers

My Blog

HOUSTON REAL ESTATE REGISTERS ANOTHER STRONG PERFORMANCE IN AUGUST

Wednesday, 16 September 2020 10:31

HOUSTON REAL ESTATE REGISTERS ANOTHER STRONG PERFORMANCE IN AUGUST HOUSTON — (September 9, 2020) – Following a July that vaulted Houston real estate into the record books, August proved to be another healthy month for home sales despite the lingering coronavirus pandemic. The high end of the market staged the strongest performance, pulling up overall pricing along the way. However, with a decline in the number of listings for sale coming on the market, inventory has now fallen to its lowest level in five years, setting the stage for moderating sales in the weeks ahead despite historically low interest rates. According to the latest Houston Association of Realtors (HAR) Market Update, 9,195 single-family homes sold in August compared to 8,673 a year earlier. That accounted for a 6.0 percent increase and marked the third consecutive month of positive sales. Homes priced at $750,000 and above registered the greatest percentage increase, soaring 40.3 percent compared to August 2019. In second place was the $500,000 to $750,000 housing segment, which jumped 34.4 percent year-over-year. Homes between $250,000 and $500,000 — the market’s highest volume sales range – also achieved significant increases over 2019. Single-Family Update The single-family home median price climbed 7.6 percent to $269,000 while the average price rose 7.8 percent to $334,256. Both figures are record highs for an August. Year-to-date sales are running 2.8 percent ahead of 2019’s record pace. Sales of all property types totaled 11,121 – up 7.3 percent from August 2019. Total dollar volume for the month increased 13.4 percent to $3.5 billion. After strong consumer interest in July, the lease market retreated in August, with declines in both the single-family and townhouse/condo markets. “August was the third straight positive month for Houston real estate, but with a dwindling supply of homes entering the market, we expect sales volume to resume a more normalized pace for this time of year,” said HAR Chairman John Nugent with RE/MAX Space Center. “Consumers can still benefit from record low interest rates, however constrained inventory doesn’t offer them many housing options, which is unfortunate.” Lease Property Update Houston’s lease property market slowed in August. Leases of single-family homes fell 13.3 percent year-over-year while leases of townhomes and condominiums declined 13.7 percent. The average rent for single-family homes increased 2.3 percent to $1,961 while the average rent for townhomes and condominiums edged up 1.0 percent to $1,654.. August Monthly Market Comparison With a slew of pending transactions converting to closed sales in August, the Houston housing market achieved its third consecutive month of positive home sales. On a year-to-date basis, the market is running 2.8 percent ahead of 2019’s record pace. Single-family home sales, total property sales and total dollar volume all rose compared to August 2019. Pending sales soared 35.9 percent. However, total active listings – or the total number of available properties – fell 23.0 percent. Single-Family Homes Update In August, single-family home sales rose 6.0 percent with 9,195 units sold throughout the greater Houston area compared to 8,673 a year earlier. On a year-to-date basis, sales are currently 2.8 percent ahead of last year’s record pace. Strong sales volume at the high end of the  market elevated pricing levels. The single-family home median price rose 7.6 percent to $269,000 while the average price increased 7.8 percent to $334,256. Days on Market (DOM), or the number of days it took the average home to sell, lowered from 53 to 51. Inventory registered a 2.8-months supply compared to 4.1 months a year earlier and is at levels not seen since April 2015. It is also slightly below the current national inventory level of 3.1 months recently reported by NAR. Broken out by housing segment, August sales performed as follows: $1 – $99,999: decreased 34.2 percent $100,000 – $149,999: decreased 31.4 percent $150,000 – $249,999: decreased 4.4 percent $250,000 – $499,999: increased 18.3 percent $500,000 – $749,999: increased 34.4 percent $750,000 and above: increased 40.3 percent HAR also breaks out sales figures for existing single-family homes. Existing home sales totaled 7,621 in August, up 7.0 percent compared to the same month last year. The average sales price rose 10.2 percent to $332,003 while the median sales price jumped 10.6 percent to $260,000. Townhouse/Condominium Update Townhome and condominium edged up 1.3 percent in August, registering 647 closed sales compared to 639 a year earlier. The average price rose 4.5 percent to $216,733 and the median price increased 1.7 percent to $175,000. Inventory narrowed from a 4.6-months supply to 4.1 months. Houston Real Estate Highlights in August Following a record-setting performance in July, single-family home sales held to positive territory again in August, rising 6.0 percent year-over-year with 9,195 units sold; The Days on Market (DOM) figure for single-family homes lowered from 53 to 51 days; Total property sales rose 7.3 percent with 11,121 units sold; Total dollar volume jumped 13.4 percent to $3.5 billion; The single-family home median price rose 7.6 percent to $269,000 – the second highest median price of all time; The single-family home average price increased 7.8 percent to $334,256 – the second highest average price in history; Single-family homes months of inventory registered a 2.8-months supply, down from 4.1 months last August and below the national inventory level of 3.1 months; Townhome/condominium sales rose 1.3 percent, with the average price up 4.5 percent to $216,733 and the median price up 1.7 percent to $175,000; Single-family home rentals dropped 13.3 percent with the average rent up 2.3 percent to $1,961; Townhome/condominium leases fell 13.7 percent with the average rent up 1.0 percent to $1,654. The post HOUSTON REAL ESTATE REGISTERS ANOTHER STRONG PERFORMANCE IN AUGUST appeared first on Vicky Halfon | Halfon Real Estate, LLC.

JULY HOME SALES ACROSS HOUSTON REACH RECORD TERRITORY

Monday, 24 August 2020 11:02

I am happy to create a Comparative Market Analysis (CMA) for you and find out what your home could sale for based on the current market. Please click here  for your free report. HOUSTON — (August 12, 2020) — A continued surge in closings from homes that went under contract after the lifting of COVID-19 stay-at-home measures propelled Houston real estate into record territory in July – surpassing June’s stronger-than-expected performance. However, a dwindling supply of homes caused by the burst of home buying and home sellers holding back amid the ongoing COVID-19 crisis will make it difficult to keep up with the strong buyer demand. According to the latest Houston Association of Realtors (HAR) Market Update, 10,975 single-family homes sold in July compared to 8,921 a year earlier. That translated to a 23.0 percent increase. That is a record sales volume for a single month and marks the first time that figure has surpassed 10,000. More information Homes priced between $500,000 and $750,000 registered the greatest percentage increase, rocketing 51.9 percent compared to July 2019. The second-best performer was the luxury market – consisting of homes priced at $750,000 and above – which jumped 41.7 percent year-over-year.  Homes between $200,000 and $500,000, the range in which the largest number of homes sell, also saw substantial increases over last year. The combined strength in the high-end and mid-range markets pulled average and median pricing up to historic levels. The single-family home median price rose 8.7 percent to $271,830 while the average price climbed 8.5 percent to $338,350. Year-to-date sales are now 2.7 percent ahead of 2019’s record pace. Sales of all property types totaled 13,043 – another record high – up 25.0 percent from July 2019. Total dollar volume for the month leapt 33.8 percent to $4.1 billion. Consumers also sent lease properties into positive territory in July.  “We are grateful for two consecutive months of strong activity across greater Houston, however we do not consider the current pace of home sales sustainable given the shrinking supply of homes and expect business to taper a bit this fall,” said HAR Chairman John Nugent with RE/MAX Space Center. “Historically low interest rates make this an outstanding time to buy a home, but without the inventory, there unfortunately isn’t much out there for consumers.” Lease Property Update July leases of single-family homes rose 2.9 percent year-over-year while leases of townhomes and condominiums climbed 6.9 percent. The average rent for single-family homes increased 1.8 percent to $1,940 while the average rent for townhomes and condominiums was flat at $1,659. July Monthly Market Comparison Continued pent-up housing demand stemming from coronavirus-related stay-at-home directives in the spring led to a second straight month of surging sales in July that pushed the Houston housing market ahead of 2019’s record pace. Single-family home sales, total property sales and total dollar volume all rose compared to July 2019. Pending sales shot up 33.9 percent. However, total active listings, or the total number of available properties, fell 19.4 percent. With new listings trickling into the marketplace on top of the surge in sales, single-family homes inventory dwindled to a 3.0-month supply in July versus 4.2 months a year earlier. For perspective, housing inventory across the U.S. stands at a 4.0-months supply, according to the the National Association of Realtors (NAR). Single-Family Homes Update Single-family home sales soared 23.0 percent in July, with 10,975 units sold across greater Houston compared to 8,921 a year earlier. That is the greatest one-month sales volume of all time and represents the first time that figure has broken the 10,000-mark. On a year-to-date basis, sales are now running 2.7 percent ahead of last year’s record pace. Strong buying activity in the high end of the market drove pricing to historic levels. The single-family home median price rose 8.7 percent to $271,830 while the average price climbed 8.5 percent to $338,350. Days on Market (DOM), or the number of days it took the average home to sell, edged up from 51 to 56. Inventory registered a 3.0-months supply compared to 4.2 months a year earlier and is below the current national inventory level of 4.0 months recently reported by NAR. Broken out by housing segment, July sales performed as follows: $1 – $99,999: decreased 20.2 percent $100,000 – $149,999: decreased 29.3 percent $150,000 – $249,999: increased 13.4 percent $250,000 – $499,999: increased 37.1 percent $500,000 – $749,999: increased 51.9 percent $750,000 and above: increased 41.7 percent HAR also breaks out sales figures for existing single-family homes. Existing home sales totaled 8,989 in July, up 22.5 percent compared to the same month last year. The average sales price rose 9.1 percent to $332,795 while the median sales price jumped 10.9 percent to $265,000. For the latest weekly report on housing market trends throughout the greater Houston area, please see the HAR Weekly Activity Snapshot for the week ending August 10, available HERE as a downloadable PDF file. Townhouse/Condominium Update After ending three straight months of declining sales in June, townhome and condominium sales were flat in July, registering 690 closed sales compared to 691 a year earlier. The average price rose 9.9 percent to $223,190 and the median price climbed 12.3 percent to $183,000. Inventory narrowed slightly from a 4.6-months supply to 4.3 months. Houston Real Estate Highlights in July Following a strong performance in June, single-family home sales soared into record-setting territory in July, leaping 23.0 percent year-over-year with 10,975 units sold – a record one-month sales volume; The Days on Market (DOM) figure for single-family homes expanded from 51 to 56 days; Total property sales soared 25.0 percent with a record-setting 13,043 units sold; Total dollar volume shot up 33.8 percent to $4.1 billion; The single-family home median price set a new record high of $271,830 as it rose 8.7 percent year-over year; The single-family home average price jumped 8.5 percent to $338,350 – also an historic high; Single-family homes months of inventory was at a 3.0-months supply, down from 4.2 months last July and below the national inventory level of 4.0 months; Townhome/condominium sales were flat, with the average price up 9.9 percent to $223,190 and the median price up 12.3 percent to $183,000; Single-family home rentals rose 2.9 percent with the average rent up 1.8 percent to $1,940; Townhome/condominium leases increased 6.9 percent with the average rent unchanged at $1,659. The post JULY HOME SALES ACROSS HOUSTON REACH RECORD TERRITORY appeared first on Vicky Halfon | Halfon Real Estate, LLC.

HOUSTON HOME BUYERS PUMP UP THE VOLUME IN JUNE

Monday, 20 July 2020 13:38

I am happy to create a Comparative Market Analysis (CMA) for you and find out what your home could sale for based on the current market. Please click here for your free report.   HOUSTON — (July 8, 2020) — A flurry of homes going under contract in May after COVID-19-related stay-at-home orders expired led to a surge of closings in June, driving home sales volumes back up to levels considered more normal for summertime in Houston – and even beyond 2019’s record pace. However, renewed coronavirus concerns, stemming from a spike in cases across greater Houston and in other parts of Texas, may bring this taste of normalcy to an end by the fall. According to the latest Market Update from the Houston Association of Realtors (HAR), 9,328 single-family homes sold in June compared to 8,063 a year earlier. That translated to a 15.7 percent jump – a strong rebound from two straight months of declines brought on by coronavirus and ongoing strains in the energy industry. Homes priced between $250,000 and $500,000 led the way among all housing segments, soaring 28.3 percent year-over-year. The second-best performer consisted of homes in the $500,000 to $750,000 range, which jumped 18.6 percent. Year-to-date sales are now on par with 2019’s record pace after lagging by 4.3 percent in May. Single-Family Home The single-family home median price increased 3.6 percent to an historic high of $262,000 while the average price dipped less than one percent to $319,881. Sales of all property types totaled 11,153, up 18.3 percent from June 2019. Total dollar volume for the month increased 15.1 percent to $3.3 billion. Leases of single-family homes were another bright spot in HAR’s monthly report, climbing more than 15 percent.  “Coronavirus has driven the Houston housing market into uncharted territory, however, we do know for certain that consumers have shown unwavering interest in real estate since the pandemic began,” said HAR Chairman John Nugent with RE/MAX Space Center. “HAR’s early introduction of virtual open houses and virtual showings has enabled consumers to forge ahead with house-hunting plans without compromising health and safety, and historically low interest rates have remained a strong incentive to buy.” For the latest weekly report on housing market trends throughout the greater Houston area, please see the HAR Weekly Activity Snapshot for the week ending July 6, available HERE as a downloadable PDF file. Lease Property Update June leases of single-family homes surged 15.3 percent year-over-year. However, leases of townhomes and condominiums were flat. The average rent for single-family homes was down 1.0 percent to $1,906 while the average rent for townhomes and condominiums rose 7.9 percent to $1,731. June Monthly Market Comparison Pent-up demand resulting from coronavirus-related stay-at-home orders in March and April helped boost pending listings in May, paving the way for a surge in closings in June that drove sales volume up to levels typically seen in Houston over a COVID-free summer. Single-family home sales, total property sales and total dollar volume all rose compared to June 2019. Pending sales rocketed 39.3 percent, suggesting the likelihood of another strong sales month for July. Total active listings, or the total number of available properties, fell 17.5 percent. With an ongoing slowdown in new listings to the marketplace and an increase in homes going under contract, single-family homes inventory shrank to a 3.2-months supply in June versus 4.3-months a year earlier. For perspective, housing inventory across the U.S. stands at a 4.8-months supply, according to the most recent report from the National Association of Realtors (NAR). Single-Family Homes Update Single-family home sales shot up 15.7 percent in June, with 9,328 units sold across greater Houston compared to 8,063 a year earlier. That reversed two straight monthly declines as a result of the COVID-19 pandemic with additional impact from the strained energy industry. On a year-to-date basis, sales now match last year’s record pace. The single-family home median price rose 3.6 percent to an all-time high of $262,000 while the average price decreased a fractional 0.6 percent to $319,881. Days on Market (DOM), or the number of days it took the average home to sell, rose from 50 to 56. Inventory registered a 3.2-months supply compared to 4.3 months a year earlier and is below the current national inventory level of 4.8 months recently reported by NAR. Broken out by housing segment, June sales performed as follows: $1 – $99,999: decreased 16.3 percent $100,000 – $149,999: decreased 3.9 percent $150,000 – $249,999: increased 9.8 percent $250,000 – $499,999: increased 28.3 percent $500,000 – $749,999: increased 18.6 percent $750,000 and above: decreased 10.6 percent  HAR also breaks out sales figures for existing single-family homes. Existing home sales totaled 7,420 in June, up 11.3 percent compared to the same month last year. The average sales price fell 0.8 percent to $311,408 while the median sales price rose 3.1 percent to $250,000. Townhouse/Condominium Update Townhome and condominium sales rebounded from three straight months of declines, rising 1.9 percent versus June 2019. A total of 590 units sold compared to 579 one year earlier. The average price tumbled 5.4 percent to $212,216 and the median price fell 1.8 percent to $174,350. Inventory narrowed from a 4.8-months supply to 4.3 months. Houston Real Estate Highlights in June Single-family home sales rebounded from two consecutive monthly declines, jumping 15.7 percent year-over-year with 9,328 units sold; The Days on Market (DOM) figure for single-family homes grew from 50 to 56 days; Total property sales soared 18.3 percent with 11,153 units sold; Total dollar volume climbed 15.1 percent to $3.3 billion; The single-family home median price set a new record high of $262,000 as it rose 3.6 percent year-over year; The single-family home average price declined 0.6 percent to $319,881; Single-family homes months of inventory was at a 3.2-months supply, down from 4.3 months last June and below the national inventory level of 4.8 months; Townhome/condominium sales reversed three monthly declines, rising 1.9 percent, with the average price down 5.4 percent to $212,216 and the median price down 1.8 percent to $174,350; Single-family home rentals jumped 15.3 percent with the average rent down 1.0 percent to $1,906; Volume of townhome/condominium leases was unchanged with the average rent up 7.9 percent to $1,731. The post HOUSTON HOME BUYERS PUMP UP THE VOLUME IN JUNE appeared first on Vicky Halfon | Halfon Real Estate, LLC.

CORONAVIRUS AND AILING ENERGY INDUSTRY CONTINUE TO IMPACT HOUSTON REAL ESTATE IN MAY

Wednesday, 17 June 2020 12:01

Pandemic and slumping oil prices combine to drive closed home sales down for a second straight month, however leading indicators show positive signs. HOUSTON — June 10, 2020 Houston home sales fell for a second straight month in May as the impact of COVID-19 and related stay-at-home orders continued to play out throughout the market. Growing consumer interest in in-person open houses and property showings, as well as an increase in offers to purchase, demonstrated improving market conditions. The slumping energy industry limited buyers in the luxury home market, which affected the overall average price of single-family homes across the region. Predicting the future of the market remains a challenge, and just this week, the National Bureau of Economic Research declared that the United States has been in a deep recession since February. Homes in every pricing category suffered losses, with the steepest declines at the low and high ends of the market. Homes priced below $100,000 dropped more than 37 percent while those priced above $750,000 plunged more than 56 percent. Year-to-date sales are now running 4.3 percent behind 2019’s record pace. Leases of single-family homes were the bright spot in May, jumping nearly 12 percent. Market Update According to the latest monthly Market Update from the Houston Association of Realtors (HAR), 6,671 single-family homes sold in May compared to 8,359 a year earlier. That translated to a 20.2 percent decline – the second consecutive monthly decline since the pandemic struck the market. The lower sales volume, particularly among high-end homes, took a toll on average sales price numbers, however strong demand in the mid-priced market kept the median price of homes statistically flat. The single-family home average price dropped 7.4 percent to $298,199 while the median price dipped just0.4 percent to $249,000. The last time home prices saw declines was in January 2018. All Sales Sales of all property types totaled 7,917, down 20.7 percent from May 2019. Total dollar volume for the month fell 25.9 percent to slightly more than $2.2 billion. “May delivered another mixed bag of data for the Houston housing market given the ongoing coronavirus pandemic on top of strains in the oil patch and the broader recession,” said HAR Chairman John Nugent with RE/MAX Space Center. “We will eventually work our way through these challenges, and already see positive indicators in the form of strong rental activity, solid pending sales numbers and steady attendance at property showings across greater Houston. Historically low interest rates still make conditions appealing to would-be buyers.” For the latest weekly report on housing market trends throughout the greater Houston area, please see the HAR Weekly Activity Snapshot for the week ending June 8, available HERE as a downloadable PDF file. Lease Property Update Consumers snapped up rental homes in strong numbers in May. Leases of single-family homes surged 11.9 percent year-over-year. However, leases of townhomes and condominiums slid 4.6 percent. The average rent for single-family homes was down 2.8 percent to $1,822 while the average rent for townhomes and condominiums was fell 4.6 percent to $1,586. May Monthly Market Comparison The lingering coronavirus pandemic layered on top of strains in the energy sector weighed heavily on the Houston real estate market for a second consecutive month in May. Single-family home sales, total property sales, pricing and total dollar volume all fell compared to May 2019. Pending sales, however, jumped 23.1 percent. Total active listings, or the total number of available properties, was down 8.3 percent. With a slowdown in new listings to the marketplace, single-family homes inventory shrank, registering a 3.5-months supply in May versus 4.1-months a year earlier. For perspective, housing inventory across the U.S. stands at a 4.1-months supply, according to the most recent report from the National Association of Realtors (NAR). Single-Family Homes Update Single-family home sales fell 20.2 percent in May, with 6,671 units sold throughout greater Houston compared to 8,359 a year earlier. That marked the second straight monthly decline as a result of the COVID-19 pandemic with additional impact from the strained energy industry. On a year-to-date basis, sales now lag behind last year’s record pace by 4.3 percent. Pricing saw its first declines since January of 2018. The average price dropped 7.4 percent to $298,199. The median price was down a fractional 0.4 percent to $249,000. Days on Market (DOM), or the number of days it took the average home to sell, rose slightly from 54 to 58. Inventory registered a 3.5-months supply compared to 4.1 months a year earlier and is below the current national inventory level of 4.1 months recently reported by NAR. Broken out by housing segment, May sales performed as follows: $1 – $99,999: decreased 37.7 percent $100,000 – $149,999: decreased 26.1 percent $150,000 – $249,999: decreased 16.2 percent $250,000 – $499,999: decreased 15.3 percent $500,000 – $749,999: decreased 29.0 percent $750,000 and above: decreased 56.3 percent HAR also breaks out sales figures for existing single-family homes. Existing home sales totaled 5,114 in May, down 28.2 percent compared to the same month last year. The average sales price fell 8.9 percent to $287,606 while the median sales price dropped 2.1 percent to $235,000. Townhouse/Condominium Update Townhome and condominium sales, which took a hit in April along with the single-family segment, experienced another dramatic fall in May, plunging 36.0 percent. A total of 417 units sold compared to 652 one year earlier. The average price tumbled 2.3 percent to $206,146 while the median price rose 2.9 percent to $175,000. Inventory grew slightly from a 4.5-months supply to 4.6 months.  Houston Real Estate Highlights in May Single-family home sales fell 20.2 percent year-over-year, with 6,671 units sold, marking the second straight month of declines fueled by the COVID-19 pandemic; The Days on Market (DOM) figure for single-family homes grew from 54 to 58 days; Total property sales dropped 20.7 percent, with 7,917 units sold; Total dollar volume dove 25.9 percent to $2.23 billion; The single-family home average price fell 7.4 percent to $298,199, the first decline since January 2018; The single-family home median price was statistically flat at $249,000; Single-family homes months of inventory was at a 3.5-months supply, down from 4.1 months last May and below the national inventory level of 4.1 months; Townhome/condominium sales dropped 36.0 percent, with the average price down 2.3 percent to $206,146 and the median price up 2.9 percent to $175,000; Single-family home rentals jumped 11.9 percent with the average rent down 2.8 percent to $1,822; Volume of townhome/condominium leases fell 4.6 percent with the average rent down 4.6 percent to $1,586. I am happy to create a Comparative Market Analysis (CMA) for you and find out what your home could sale for based on the current market. Please click here for your free report. The post CORONAVIRUS AND AILING ENERGY INDUSTRY CONTINUE TO IMPACT HOUSTON REAL ESTATE IN MAY appeared first on Vicky Halfon | Halfon Real Estate, LLC.

CORONAVIRUS SHOWS LITTLE MEASURABLE EFFECT ON HOUSTON’S MARCH HOME SALES

Monday, 20 April 2020 09:41

Strong sales momentum through mid-March helps offset COVID-19’s market impact later in the month HOUSTON — (April 8, 2020) — As COVID-19 ravages the physical and business health of the nation, its impact on the Houston real estate market only began to set in during the last week of March. Therefore it caused little disruption to the month’s overall performance. The full effect of the pandemic is expected to become more apparent when the April housing numbers are tallied. Even with some transactions interrupted before Governor Greg Abbott designated real estate as an “essential” service statewide as part of his March 31 stay-at-home order, Houston home sales were more than 11 percent ahead of the levels at this point in 2019. Consumers were still taking advantage of historically low mortgage interest rates through the first half of the month. Single-family homes priced between $500,000 and $750,000 led the way in March sales, followed by homes in the $250,000 to $500,000 range. Leases of single-family homes were also up for the month. According to the latest monthly Market Update from the Houston Association of Realtors (HAR), 7,566 single-family homes sold in March compared to 6,995 a year earlier, accounting for an 8.2 percent increase and the ninth consecutive month of positive sales. The single-family home median price (the figure at which half of the homes sold for more and half sold for less) rose 4.1 percent to $249,900, and the average price climbed 3.8 percent to $309,785. Both figures represent the highest prices ever for a March. Sales of all property types totaled 8,965, up 6.9 percent from March 2019. Total dollar volume for the month jumped 11.0 percent to slightly more than $2.6 billion COVID-19 Market Impact “What’s about to happen to Houston real estate reminds me of Hurricane Harvey in that we are bracing for impact, but don’t yet know what the full extent on the market will be,” said HAR Chairman John Nugent with RE/MAX Space Center. “There are consumers out there for whom finding a home is critical, however, HAR has urged all Realtor members to conduct as much business as possible online, using technology such as virtual open houses, virtual tours and electronic signature documents, in the interest of protecting everyone’s health. What’s most important during this pandemic is for everyone to be responsible community stewards and heed the warnings of health experts and local officials,” added Nugent. On March 20, all (in-person) open houses were removed from HAR.com out of an abundance of caution for the health and safety of consumers and real estate agents alike. In the next few days, the website will introduce a virtual tour feature allowing Realtors to host and post virtual open houses and conduct virtual showings. Consumers can watch them live on HAR.com at scheduled times and Realtors can then share the recordings on their own websites and social media platforms. Lease Property Update March saw a mixed performance for lease properties across the greater Houston area. Leases of single-family homes rose 1.2 percent year-over-year, however leases of townhomes and condominiums fell 9.7 percent. The average rent for single-family homes increased 2.4 percent to $1,788 while the average rent for townhomes and condominiums increased 4.2 percent to $1,604. March Monthly Market Comparison Market readings for March were largely positive. The exceptions were inventory, which lowered due to strong consumer demand during the first half of the month, and pending sales, which declined in the latter half due to market uncertainty as the pandemic struck. Single-family home sales, total property sales and total dollar volume all rose compared to March 2019, and pricing levels reached March highs. Total active listings, or the total number of available properties, rose 2.6 percent to 40,932. Single-family homes inventory recorded a 3.5-months supply in March, down from a 3.8-months supply a year earlier. For perspective, housing inventory across the U.S. stands at a 3.1-months supply, according to the most recent report from the National Association of Realtors (NAR). Single-Family Homes Update Single-family home sales rose 8.2 percent in March with 7,566 units sold throughout greater Houston compared to 6,995 a year earlier. This marks the ninth straight month of positive sales. Prices reached the highest levels ever for a March. The median price increased 4.1 percent to $249,900. The average price rose 3.8 percent to $309,785. Days on Market (DOM), or the number of days it took the average home to sell, remained unchanged at 65 days. Inventory registered a 3.5-months supply. That compares to 3.8 months a year earlier and is above the current national inventory level of 3.1 months reported by NAR. Broken out by housing segment, March sales performed as follows: $1 – $99,999: decreased 37.8 percent $100,000 – $149,999: decreased 17.7 percent $150,000 – $249,999: increased 9.4 percent $250,000 – $499,999: increased 13.2 percent $500,000 – $749,999: increased 17.5 percent $750,000 and above: increased 9.1 percent HAR also breaks out sales figures for existing single-family homes. Existing home sales totaled 5,888 in March, up 6.3 percent compared to the same month last year. The average sales price increased 4.8 percent to $300,164 while the median sales price rose 4.9 percent to $236,000. Townhouse/Condominium Update Townhomes and condominiums ended three straight months of gains with a fractional year-over-year decline of 0.5 percent, with 547 units sold compared to 550 one year earlier. The average price jumped 6.0 percent to $224,038 while the median price increased 4.6 percent to $183,000. Inventory was unchanged at a 4.3-months supply. Houston Real Estate Highlights in March Single-family home sales rose 8.2 percent year-over-year, with 7,566 units sold, marking the ninth consecutive month of positive sales; The Days on Market (DOM) figure for single-family homes was unchanged at 65 days; Total property sales rose 6.9 percent, with 8,965 units sold; Total dollar volume jumped 11.0 percent to more than $2.6 billion; The single-family home median price rose 4.1 percent to $249,900, reaching a March high; The single-family home average price climbed 3.8 percent to a March high of $309,785; Single-family homes months of inventory was at a 3.5-months supply, down from 3.8 months last March but above the national inventory level of 3.1 months; Townhome/condominium sales declined 0.5 percent, with the average price up 6.0 percent to $224,038 and the median price up 4.6 percent to $183,000; Lease properties experienced a mixed performance, as single-family home rentals increased 1.2 percent with the average rent up 2.4 percent to $1,788; Volume of townhome/condominium leases fell 9.7 percent with the average rent up 4.2 percent to $1,604. The post CORONAVIRUS SHOWS LITTLE MEASURABLE EFFECT ON HOUSTON’S MARCH HOME SALES appeared first on Vicky Halfon | Halfon Real Estate, LLC.

HOUSTON REAL ESTATE ENJOYS A STRONG START TO 2020

Tuesday, 25 February 2020 13:36

Home sales mark a seventh straight month of gains while demand for lease properties also rises HOUSTON — (February 12, 2020) — Fresh on the heels of a record-breaking 2019, home sales across greater Houston began the new year with a strong showing as consumers continued to take advantage of historically low interest rates. Homes priced between $500,000 and $750,000 drew the most buyers in January followed by homes in the $250,000 to $500,000 range. Activity among properties for lease also registered solid gains during the month. According to the latest monthly Market Update from the Houston Association of REALTORS® (HAR), 4,699 single-family homes sold in January compared to 4,112 a year earlier. That represents a 14.3 percent increase – the seventh consecutive positive month and the greatest January sales volume hike in seven years. The single-family home median price (the figure at which half of the homes sold for more and half sold for less) rose 4.5 percent to $234,000 and the average price climbed 4.6 percent to $291,034. Both figures represent the highest prices ever for a January. Sales of all property types totaled 5,800, up 15.2 percent from January 2019. Total dollar volume for the month surged 17.1 percent to about $1.6 billion. “January is a traditionally slower month for home sales coming off the holidays, but the Houston market continues to benefit from low mortgage interest rates and a generally robust economy with healthy employment numbers,” said HAR Chairman John Nugent with RE/MAX Space Center. “All the January home buying activity lowered our housing inventory a little, but we expect to see that grow again as we approach the spring months when more homes typically hit the market.” The average interest rate for a 30-year fixed-rate mortgage fell to 3.45 percent last week, according to figures released by Freddie Mac. That is the lowest level since October 2016. As for the local jobs landscape, the Greater Houston Partnership (GHP) reported in its January 24 Houston Employment Update that Metro Houston created 88,000 jobs – a 2.8 percent increase – during the 12 months ended December 2019, according to Texas Workforce Commission data. The GHP also noted that Houston’s unemployment rate was 3.6 percent in December, down from 3.9 percent in December 2018. Lease Property Update Consumers that weren’t buying homes in January were renting properties at a brisk pace. Single-family home rentals shot up 14.5 percent year-over-year while rentals of townhomes and condominiums rose 5.6 percent. The average rent for single-family homes ticked up 1.7 percent to $1,782 while the average rent for townhomes and condominiums increased 5.9 percent to $1,598. January Monthly Market Comparison Except for inventory, January indicators for the Houston real estate market were positive, with single-family home sales, total property sales and total dollar volume all up compared to January 2019. Pricing levels reached January highs. Month-end pending sales for single-family homes totaled 7,212. That is a 21.1 percent jump over last year. Total active listings, or the total number of available properties, rose 3.7 percent to 39,699. Single-family homes inventory recorded a 3.5-months supply in January, down fractionally from a 3.6-months supply a year earlier. For perspective, housing inventory across the U.S. stands at a 3.0-months supply, according to the latest report from the National Association of REALTORS® (NAR).  Single-Family Homes Update Single-family home sales jumped 14.3 percent in January with 4,699 units sold across the greater Houston area compared to 4,112 a year earlier. This marks the seventh straight month of positive sales and is the greatest January sales volume increase since January 2013 when it leapt 28.0 percent. Prices reached the highest levels ever for a January. The median price increased 4.5 percent to $234,000. The average price rose 4.6 percent to $291,034. Days on Market (DOM), or the number of days it took the average home to sell, extended slightly from 66 to 68 days. Inventory registered a 3.5-months supply. That compares to 3.6 months a year earlier and is greater than the current national inventory level of 3.0 months reported by NAR. Broken out by housing segment, January sales performed as follows: $1 – $99,999: decreased 18.5 percent $100,000 – $149,999: decreased 9.8 percent $150,000 – $249,999: increased 14.8 percent $250,000 – $499,999: increased 25.6 percent $500,000 – $749,999: increased 33.9 percent $750,000 and above: increased 20.0 percent  HAR also breaks out sales figures for existing single-family homes. Existing home sales totaled 3,760 in January, up 12.1 percent versus the same month last year. The average sales price increased 6.6 percent to $279,803 while the median sales price rose 4.8 percent to $220,000. Townhouse/Condominium Update Sales of townhomes and condominiums surged for the second consecutive month, up 20.9 percent versus January 2019, with 399 units sold compared to 330 one year prior. The average price declined 3.5 percent to $186,582 while the median price slid 5.2 percent to $149,750. Inventory was unchanged at a 4.0-months supply. Houston Real Estate Highlights in January Single-family home sales jumped 14.3 percent year-over-year, with 4,699 units sold, marking the seventh consecutive month of positive sales; Days on Market (DOM) for single-family homes extended slightly from 66 to 68 days; Total property sales surged 15.2 percent, with 5,800 units sold; Total dollar volume rose 17.1 percent to about $1.6 billion; The single-family home median price increased 4.5 percent to $234,000, reaching a January high; The single-family home average price climbed 4.6 percent to a January high of $291,034; Single-family homes months of inventory was at a 3.5-months supply, down fractionally from 3.6 months last January but above the national inventory level of 3.0 months; Townhome/condominium sales jumped for a second straight month – up 20.9 percent, with the average price down 3.5 percent to $186,582 and the median price down 5.2 percent to $149,750; Lease properties experienced a strong performance, as single-family home rentals climbed 14.5 percent with the average rent up 1.7 percent to $1,782; Volume of townhome/condominium leases rose 5.6 percent with the average rent up 5.9 percent to $1,598. The post HOUSTON REAL ESTATE ENJOYS A STRONG START TO 2020 appeared first on Vicky Halfon | Halfon Real Estate, LLC.

THE HOUSTON REAL ESTATE MARKET CHARGES ACROSS THE FINISH LINE FOR A RECORD 2019

Monday, 13 January 2020 10:18

If you are interested in buying or selling your home, please contact Vicky Halfon at vicky@vickyhalfon.com or call (713) 962-3405. HOUSTON — (January 8, 2020) — Low mortgage interest rates, healthy employment growth and a stable supply of homes created fertile ground for the Houston real estate market, which blossomed to record levels in 2019. Single-family home sales for the full year surpassed 2018’s record volume by nearly five percent. December delivered the year’s strongest percentage increase in single-family home sales. However, as 2020 gets underway, housing inventory has shrunk slightly, which could narrow options for consumers that may be hoping to buy a home in the new year. Annual Report According to the Houston Association of Realtors’ (HAR) latest annual report, 2019 single-family home sales rose 4.8 percent to 86,205. Sales of all property types totaled 102,593, which represents a 4.3-percent increase over 2018’s record volume and marks the first time that total property sales have ever broken the 100,000 level. Total dollar volume for 2019 climbed 6.7 percent to a record-breaking $30 billion. “During the latter half of 2019, we had a sense that we were headed toward a record year for Houston real estate, but no one expected it to be this strong a finish,” said HAR Chairman John Nugent with RE/MAX Space Center. “Townhomes and condominiums had a roller coaster ride and the luxury market cooled a bit, but overall, 2019 was a phenomenal year. As long as the Houston economy remains healthy and we see some growth in housing inventory, we expect 2020 to get off to a positive start,” he added. Single-family home sales for the month of December jumped 14.3 percent to compared to December 2018. The strongest sales activity took place among homes priced between $250,000 and $500,000, which rocketed 27.2 percent. Homes in the $150,000 to $250,000 range ranked second place, climbing 13.7 percent. The luxury segment, consisting of homes priced from $750,000 and above, increased 12.7 percent. Prices of single-family homes set new December highs. The median price (the figure at which half of the homes sold for more and half sold for less) rose 4.6 percent to $251,000 while the average price went up 2.5 percent to $312,922. Despite those highs, pricing increases in general began to show moderation as the end of the year drew to a close. 2019 Annual Market Comparison Economic uncertainty loomed as 2019 began, with federal workers on edge about the continuing government shutdown and escalating trade friction with China. The Houston real estate market entered 2019 with constrained inventory. However, the housing supply grew almost immediately, rising from a 3.6-months supply in January to a peak of 4.3 months in June and July. Months of inventory estimates the number of months it will take to deplete current active inventory based on the prior 12 months sales activity. Real estate records were set throughout the year, with July going down as Houston’s greatest one-month sales volume of all time – 8,918 single-family units sold. A record high average price of $322,143 was reached in May while a record high median price of $252,700 was achieved in June. By the time the books were closed on December transactions, a record 86,205 single-family homes had sold across greater Houston in 2019. That represents an increase of 4.8 percent from the previous record of 82,229 in 2018. On a year-to-date basis, the average price rose 2.3 percent to $305,959 while the median price increased 3.2 percent to $245,000. Total dollar volume for full-year 2019 rose 6.7 percent to a record-setting $30 billion. December Monthly Market Comparison The Houston housing market generated positive readings across the board in December with the exception of inventory. Single-family home sales, total property sales total dollar volume and pricing were all up compared to December 2018. Month-end pending sales for single-family homes totaled 5,796, an increase of 22.7 percent versus one year earlier. Total active listings, or the total number of available properties, rose 3.6 percent from December 2018 to 38,504. Single-family homes inventory narrowed slightly from a 3.5-months supply to 3.4 months. For perspective, housing inventory across the U.S. currently stands at a 3.7-months supply, according to the latest report from the National Association of Realtors (NAR). December Single-Family Homes Update Single-family home sales totaled 7,505, up 14.3 percent from December 2018. That marks 2019’s greatest one-month percentage increase in sales. The median price rose 4.6 percent to a December high of $251,000. The average price increased 2.5 percent to $312,922 – also a December record. Days on Market (DOM), or the number of days it took the average home to sell, improved slightly from 64 to 63. Broken out by housing segment, December sales performed as follows: $1 – $99,999: decreased 20.0 percent $100,000 – $149,999: decreased 15.8 percent $150,000 – $249,999: increased 13.7 percent $250,000 – $499,999: increased 27.2 percent $500,000 – $749,999: increased 11.8 percent $750,000 and above: increased 12.7 percent HAR also breaks out the sales figures for existing single-family homes. Existing home sales totaled 5,762 in December, up 16.9 percent versus the same month last year. The average sales price rose 3.1 percent to $299,699 while the median sales price increased 6.8 percent to $235,000. Townhouse/Condominium Update Townhome and condominium sales had a strong finish to a year that saw alternating months of gains and losses. December volume jumped 14.1 percent, with 581 units selling versus 509 a year earlier. The average price rose 10.3 percent to $227,239 and the median price increased 9.1 percent to $185,000. Inventory grew from a 3.7-months supply to 4.0 months. Lease Property Update Houston’s lease market staged a mixed performance in December. Single-family home leases rose 5.0 percent while townhome/condominium leases fell 5.5 percent. The average rent for single-family homes was flat at $1,764 and the average rent for townhomes/condominiums was up 2.7 percent to $1,569. Houston Real Estate Highlights for December and Full-Year 2019 2019 proved to be a record year for Houston home sales with 86,205 single-family homes sold versus 82,229 in 2018, the last record-setting year. That represents an increase of 4.8 percent; Total dollar volume for full-year 2019 rose 6.7 percent to a record-setting $30 billion; December single-family home sales jumped 14.3 percent year-over-year with 7,505 units sold. That marks the greatest one-month percentage increase of the year; Total December property sales increased 14.7 percent to 8,879 units; Total dollar volume for December soared 18.0 percent to $2.7 billion; At $251,000, the single-family home median price rose 4.6 percent to a December high; The single-family home average price climbed 2.5 percent to a December high of $312,922; Single-family homes months of inventory narrowed slightly to a 3.4-months supply; Townhome/condominium sales had a strong 2019 finale, jumping 14.1 percent, with the average price up 10.3 percent to $227,239 and the median price up 9.1 percent to $185,000; Leases of single-family homes rose 5.0 percent with average rent unchanged at $1,764; Leases of townhomes/condominiums fell 5.5 percent with average rent up 2.7 percent to $1,569. The post THE HOUSTON REAL ESTATE MARKET CHARGES ACROSS THE FINISH LINE FOR A RECORD 2019 appeared first on Vicky Halfon | Halfon Real Estate, LLC.

THE HOUSTON HOUSING MARKET CHUGS CONFIDENTLY ALONG THROUGH NOVEMBER

Monday, 16 December 2019 13:23

HOUSTON — (December 11, 2019) — November marked the fifth consecutive positive month of home sales with continued low mortgage interest rates helping to keep the Houston real estate market on track for a record 2019. Single-family home sales across greater Houston totaled 6,395 in November, according to the latest monthly report from the Houston Association of REALTORS® (HAR). That is up 3.6 percent from one year earlier. On a year-to-date basis, home sales are running 4.1 percent ahead of 2018’s record volume. The strongest sales activity took place among homes priced between $250,000 and $500,000, which rose 12.5 percent. Homes in the $500,000 to $750,000 range ranked second place, climbing 5.2 percent. The luxury segment, made up of homes priced from $750,000 and above, fell 9.1 percent. Single-family home prices set new November highs. The median price (the figure at which half of the homes sold for more and half sold for less) rose 2.5 percent to $240,900 while the average price edged up 1.1 percent to $297,831. Despite the record prices, pricing increases in general have shown moderation as the end of the year draws closer. Inventory was unchanged in November, holding steady at a 3.8-months supply. That is the first time this year that the market saw no growth in the supply of homes, which is not uncommon during the holidays when fewer homes are traditionally listed for sale. Sales of all property types increased 2.1 percent in November, totaling 7,577 units. Total dollar volume rose 3.4 percent to $2.2 billion. “The end of the year typically brings a slower pace of home sales, so we welcome another month of gains and attribute it to continued low interest rates in a market that has added more than 80,000 jobs over the past year, according to the Texas Workforce Commission,” said HAR Chair Shannon Cobb Evans with Better Homes and Gardens Real Estate Gary Greene. The 30-year fixed mortgage rate averaged 3.68 percent during the week ending December 5, according to figures released by Freddie Mac. Compared to a year ago, mortgage rates were more than a full percentage point lower. During the same week last year, the 30-year fixed-rate mortgage averaged 4.75 percent. Lease Property Update November marked a down month for lease properties. Single-family home leases dipped 1.3 percent while leases of townhomes and condominiums fell 8.7 percent. The average rent for single-family homes increased 2.6 percent to $1,775 while the average rent for townhomes and condominiums was unchanged at $1,500. November Monthly Market Comparison The Houston real estate market generated positive readings overall in November. Single-family home sales, total property sales, pricing and total dollar volume all increased compared to November 2018, however inventory held steady. Month-end pending sales of single-family homes totaled 6,925. That represents a 23.5 percent increase over last year. Total active listings, or the total number of available properties, rose 5.2 percent to 42,139. The November inventory of single-family homes was flat at a 3.8-months supply. It is the first time in 2019 that the Houston area saw no growth in the supply of homes – not unusual given that fewer homes are typically listed during the holidays. For perspective, housing inventory across the United States currently stands at a 3.9-months supply, according to the latest report from the National Association of Realtors® (NAR). That is down from 4.1 months. Single-Family Homes Update November became the fifth consecutive positive month of single-family home sales, with 6,395 units sold across greater Houston compared to 6,170 a year earlier. That represents a 3.6 percent increase in volume. On a year-to-date basis, sales are running 4.1 percent ahead of 2018’s record pace.   Home prices reached the highest levels ever for a November. The median price was $240,900, up 2.5 percent from the year prior. The average price edged up 1.1 percent to $297,831. Despite that, the increases are among the smallest of 2019 and reflect continued pricing moderation as the year draws to a close. Days on Market (DOM), or the number of days it took the average home to sell, was 59 compared to 60 a year ago. Inventory was flat at a 3.8-months supply. The national inventory stands at 3.9 months, according to NAR.   Broken out by housing segment, November single-family sales performed as follows: $1 – $99,999: decreased 13.8 percent $100,000 – $149,999: decreased 6.1 percent $150,000 – $249,999: increased 1.3 percent $250,000 – $499,999: increased 12.5 percent $500,000 – $749,999: increased 5.2 percent $750,000 and above: decreased 9.1 percent HAR also breaks out sales activity for just existing single-family homes. Existing home sales totaled 5,103 in November. That is up 4.8 percent versus the same month last year. The average sales price eked out a 0.5 percent gain to $284,055 while the median price increased 3.2 percent to $225,000. Townhouse/Condominium Update The roller coaster townhouse and condominium segment registered its second straight monthly decline. Sales tumbled 5.1 percent in November with 467 units sold compared to 492 in November 2018. The average price rose 3.4 percent to $218,440 while the median price increased 2.5 percent to $168,625. Inventory expanded from a 4.1-months supply to 4.6 months.   Houston Real Estate Highlights in November Single-family home sales rose 3.6 percent year-over-year, with 6,395 units sold; On a year-to-date basis, single-family home sales are running 4.1 percent ahead of 2018’s record pace; Days on Market (DOM) for single-family homes went from 60 to 59 days; Total property sales increased 2.1 percent, with 7,577 units sold; Total dollar volume rose 3.4 percent to $2.2 billion; The single-family home median price increased 2.5 percent to $240,900, achieving a November high; The single-family home average price ticked up 1.1 percent to $297,831 – also a record high for a November; Single-family homes months of inventory was flat for the first time in 2019, holding steady at a 3.8 months supply. For comparison, the national housing inventory is at a 3.9-months supply, according to NAR; Townhome/condominium sales fell 5.1 percent year-over-year, with 467 units sold. The average price increased 3.4 percent to $218,440 while the median price rose 2.5 percent to $168,625; Single-family home leases fell 1.3 percent with the average rent up 2.6 percent to $1,775; Volume of townhome/condominium leases dropped 8.7 percent with the average rent unchanged at $1,500. If you are interested in buying or selling your home, please contact Vicky Halfon at vicky@vickyhalfon.com or call (713) 962-3405. The post THE HOUSTON HOUSING MARKET CHUGS CONFIDENTLY ALONG THROUGH NOVEMBER appeared first on Vicky Halfon | Halfon Real Estate, LLC.

HOUSTON HOME SALES AND PRICES GAIN MOMENTUM IN MAY

Tuesday, 25 June 2019 11:29

HOUSTON HOME SALES AND PRICES GAIN MOMENTUM IN MAY HOUSTON — (June 12, 2019) — Encouraged by continued low interest rates and a growing selection of housing options, home buyers kept the greater Houston real estate market in positive territory for a fourth straight month in May. As it did in April, the luxury segment (homes priced at $750,000 and above) led the way in sales volume, and rental properties moved briskly. Housing inventory grew to its largest level since August 2017, meeting consumer demand as the market prepares to segue into summer. Sales of single-family homes increased 2.8 percent in May, according to the latest monthly report from the Houston Association of Realtors® (HAR), with 8,346 homes sold compared to 8,117 in May 2018. On a year-to-date basis, home sales are running 2.7 percent ahead of 2018’s record pace. The prices of a single-family home reached historic highs in May. The median price (the figure at which half of the homes sold for more and half sold for less) rose 2.4 percent to $249,993 and the average price climbed 5.8 percent to $323,023. The last pricing highs were reached almost a year ago, in June 2018. May sales of all property types totaled 9,948, up 3.1 percent compared to the same month last year. Total dollar volume for the month jumped 7.8 percent to slightly more than $3 billion. “We are seeing signs of a healthy and sustainable housing market throughout greater Houston, and that is due to a more plentiful supply of homes, continued low interest rates and a strong local economy,” said HAR Chair Shannon Cobb Evans with Heritage Texas Properties. “In addition to solid home sales, consumers are still snapping up rental properties, and that is also driving the local housing market.” Lease Property Update The rental market experienced double-digit gains in May. Leases of single-family homes jumped 11.1 percent compared to a year earlier while leases of townhomes and condominiums surged 19.3 percent. The average rent for a single-family home rose 1.6 percent to $1,874 while the average rent for townhomes and condominiums increased 5.6 percent to $1,666. May Monthly Market Comparison The Houston real estate market registered across-the-board gains in May. Single-family home sales, total property sales, total dollar volume and pricing were all up compared to May 2018. Month-end pending sales of single-family homes totaled 9,169, a 10.6 percent increase over last year. Total active listings, or the total number of available properties, went up 10.1 percent to 43,624. Single-family homes inventory grew to a 4.2-months supply in May. That is up from 3.9 months a year earlier and marks the greatest supply of homes since August of 2017. For perspective, housing inventory across the U.S. also currently stands at a 4.2-months supply, according to the latest report from the National Association of Realtors® (NAR). Single-Family Homes Update May marked the fourth consecutive month of positive single-family home sales across greater Houston, with 8,346 units sold versus 8,117 a year earlier. On a year-to-date basis, single-family home sales are running 2.7 percent ahead of 2018’s record pace. Prices climbed to the highest levels of all time. The median price increased 2.4 percent to $249,993. The average price rose 5.8 percent to $323,023. These prices surpassed the last record highs that were reached back in June 2018. Days on Market (DOM), or the number of days it took the average home to sell, held steady at 53 days. Inventory expanded to a 4.2-months supply. That is up from 3.9 months a year earlier and represents the greatest supply of homes in almost two years (August 2017). It matches the national inventory of 4.2 months reported by NAR. Broken out by housing segment, May sales performed as follows: $1 – $99,999: decreased 9.9 percent $100,000 – $149,999: decreased 19.0 percent $150,000 – $249,999: increased 2.9 percent $250,000 – $499,999: increased 5.8 percent $500,000 – $749,999: increased 6.3 percent $750,000 and above: increased 17.6 percent HAR also breaks out sales activity for existing single-family homes. Existing home sales totaled 7,202 in May, up 6.7 percent versus the same month last year. The average sales price rose 6.7 percent to $316,945 while the median sales price increased 4.1 percent to $240,550. Townhouse/Condominium Update Townhouse and condominium sales have faced a challenging 2019, with declines every month except April when they eked out a 0.5 percent gain. In May, 648 townhouses and condominiums sold, down 2.6 percent from a year earlier when 665 units sold. The average price fell 2.3 percent to $209,497 while the median price declined a fractional 0.6 percent to $169,000. Inventory grew from a 4.1-months supply to 4.6 months.   Houston Real Estate Highlights in May Single-family home sales rose 2.8 percent year-over-year, with 8,346 units sold, marking the fourth consecutive month of positive sales; On a year-to-date basis, single-family home sales are 2.7 percent ahead of 2018’s record pace; Days on Market (DOM) for single-family homes was flat at 53 days; Total property sales increased 3.1 percent, with 9,948 units sold; Total dollar volume jumped 7.8 percent to slightly more than $3 billion; The single-family Houston home sale median price rose 2.4 percent to $249,993, achieving an all-time high; The single-family home average price was up 5.8 percent to $323,023 – also a record high; Single-family homes months of inventory reached a 4.2-months supply, up from 3.9 months last May and the most plentiful level since August 2017. For comparison, the national inventory is also at a 4.2-months supply, according to NAR; After a fractional sales gain in April, townhome/condominium sales fell 2.6 percent with 648 units sold. The average price was down 2.3 percent to $209,497 and the median price fell a fractional 0.6 percent to $169,000; Single-family home rentals rose 11.1 percent with the average rent up 1.6 percent to $1,874; Volume of townhome/condominium leases surged 19.3 percent with the average rent up 5.6 percent to $1,666. If you are interested in buying or selling your home, please contact Vicky Halfon at vhalfon@aol.com or call (713) 962-3405. The post HOUSTON HOME SALES AND PRICES GAIN MOMENTUM IN MAY appeared first on Vicky Halfon | Halfon Real Estate, LLC.

iBuyers – Convenient at a Price

Friday, 17 May 2019 10:06

iBuyers – Convenient at a Price There is an increasing number of real estate companies, termed iBuyers, like Open Door, Zillow and Knock. They market a service called Convenient at a Price. It appeals to homeowners.  The pitch for these quick cash offer companies will include some variation of “let us buy your home in days without the normal hassles of listing.” The approach attempts to provide an alternative to selling a home in a normal manner. However, it might have an expense of not realizing the full equity a homeowner is entitled. Above all, there is no fiduciary relationship that requires the broker to put a seller’s best interest above their own interest.   An iBuyer does not represent a seller. It does not owe client-level services like loyalty and obedience disclosure required by most state license laws. The offer is based on an automated valuation model, many times, without a physical inspection of the home.  In some cases, a contract is written but there are provisions that allow iBuyers time to possibly “flip” the property to an investor.  Occasionally they use an “out” in the contract to void the sale. The reality is that a company cannot stay in business if they pay too much for the property.  The iBuyer becomes the Seller who now must be concerned with pricing the home properly. They cover the normal selling expenses.  Additionally they cover the repairs, improvements, and holding costs that could incur until the property sells. There could be circumstances that make it necessary for a homeowner to sell their home at a discount.  For instance, the seller could be in a distressed situation needing immediate cash.  They might need a quick sale and don’t want to bother with repairs or marketing efforts.  Or possibly, they may have found their next home  and need to act quickly. The instant liquidity comes at a cost to the seller in lower proceeds from the sale. To realize the maximum possible equity, a real estate professional in your area can advise you about the fair market value of your home. They will also provide a reasonably expected sales price, the costs involved and how long it will take.   In conclusion, you owe it to yourself and your family to find out what you can expect if you take a conventional sales route. Written by: BetterHomeowners.com/TimBurrell If you are buying or selling a property, please contact Vicky Halfon with First Market Realty, Inc at (713) 962-3405 or visit my website at vickyhalfon.com . The post iBuyers – Convenient at a Price appeared first on Vicky Halfon | Halfon Real Estate, LLC.

 

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The Greater Houston Luxury Home Connection was created so that Realtors serving Greater Houston's luxury home and estate market could 'network together,' expand their local and worldwide databases, increase market presence, share ideas and resource.

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