July Sales …….more of the same
In July 2008, the sales of all of the property types (being single-family homes, condos, vacant lots, etc.) totaled 7,052, which was 12.7 percent less than the same sales for July 2007. The total dollar volume was down 6.7 percent from July 2007. The July 2008 dollar volume was $1.5 bilion vs. the $1.6 billion of 2007.
The good news is the average price is still up there. The average price for a single-family home came in at $226,072. The median price of a single-family home was $161,370, above the July 2007 median price of $160,000.
All in all, we’re not doing too bad. It’s obvious there’s a slow-down, but the overall price is not deteriorating. As usual, some of the Houston markets are hotter than others. If you would like to know how you are doing, give me a call.
*** Data from the Houston Assn of Realtors
Filed under: Buying, Home Sales, Investing, Selling by Dwight's Real Estate Update