Texas Outperforms Nation in October 2011 Home Sales
Sales of existing single-family Texas homes in October were up 8 percent from a year ago, according to the most recent Multiple Listing Services (MLS) data compiled by the Real Estate Center at Texas A&M University.
More than 15,600 existing single-family homes were sold, data showed. The median home price was $147,500, up 2 percent from a year ago, and the state’s overall inventory was at 6.9 months.
Meanwhile, the National Association of Realtors (NAR) reported yesterday that, nationally, existing home sales rose 1.4 percent to a seasonally adjusted annual rate of 4.97 million in October from a downwardly revised 4.9 million in September, and are 13.5 percent above the 4.38 million unit level in October 2010.
The national median price for existing homes was $162,500, which was 4.7 percent below October 2010.
Talking about the national numbers, Center Research Economist Dr. Jim Gaines said homebuyers continue to be frustrated by stiff mortgage underwriting and appraisals despite favorable buying factors such as low interest rates, sluggish but positive job creation and lower home prices.
“NAR reported contract cancellations at 33 percent in October, meaning that one in three sales contracts failed to close,” Gaines said. “Sales agents should be very circumspect when qualifying buyers for mortgages, rather than being frustrated later because the deal does not close.”
October 2011 MLS data for many Texas cities are available on the Center’s website. Here is a sampling (data current as of Nov. 21, 2011):
|
|
Sales |
Change from Last Year |
Median Price |
Change from Last Year |
Months’ Inventory |
|
Amarillo |
221 | up 2% | $126,800 | up 1% | 5.2 |
|
Austin |
1,616 | up 21% | $188,700 | down 2% | 5.1 |
|
Corpus Christi |
267 | up 12% | $128,900 | down 4% | 9.1 |
|
Dallas |
3,289 | up 10% | $155,400 | up 1% | 5.7 |
|
Fort Worth |
612 | up 4% | $108,000 | down 6% | 6 |
|
Garland |
112 | up 2% | $90,600 | down 1% | 4.7 |
|
Harlingen |
66 | up 12% | $90,000 | up 10% | 24.1 |
|
Houston |
4,467 | up 10% | $152,000 | up 2% | 6.7 |
|
Lubbock |
208 | up 12% | $114,500 | no change | 7.5 |
|
Odessa |
84 | up 18% | $148,300 | up 31% | 3.9 |
|
San Angelo |
74 | down 18% | $110,000 | up 1% | 5.8 |
|
San Antonio |
1,385 | up 5% | $148,300 | down 1% | 7.4 |
|
Temple- Belton |
114 | up 9% | $148,900 | up 25% | 8.7 |
|
Tyler |
227 | up 12% | $133,200 | down 2% | 13 |
|
Wichita Falls |
98 | down 13% | $73,800 | down 27% | 8.4 |
|
Texas |
15,640 | up 8% | $147,500 | up 2% | 6.9 |
Source: Real Estate Center
Read MoreHappy Thanksgiving 2011 from The Matteson Group in Rockwall Texas
Evan and Richard of The Matteson Group take a moment to say Thank You to friends in the Rockwall and Heath Texas areas and elsewhere. Happy Thanksgiving!
For more info:
www.TheMattesonGroup.com
Coldwell Banker Apex, Realtors
214.405.3640
Your trusted real estate advisors providing a joy filled experience!
Real Estate Update – November 14-20th, 2011 – Episode 281
Evan and Richard of The Matteson Group review and discuss November 14-20th, 2011 in the real estate market in the Rockwall and Heath Texas areas.
Current Properties for Sale: 498 homes
Sales: 15
Sale Price to List Price: 95%
Average Days on Market: 144 days
Number of Showings: 330
For more info:
www.TheMattesonGroup.com
Coldwell Banker Apex, Realtors
214.405.3640
Your trusted real estate advisors providing a joy filled experience!
Real Estate Update – October 2011 Review – Episode 280
Evan and Richard of The Matteson Group review and discuss October 2011 in the real estate market in the Rockwall and Heath Texas areas.
Current Properties for Sale: 505 homes
Sales: 71
Sale Price to List Price: 97%
Average Days on Market: 167 days
Type of Market:
- 0-120k – Extreme Sellers (4.7 Months)
- 120-150k – Extreme Sellers (3.3 Months)
- 150-250k – Extreme Sellers (4.7 Months)
- 250-400k – Extreme Buyers (11.8 Months)
- 400k-up – Extreme Buyers (18.6 Months)
For more info:
www.TheMattesonGroup.com
Coldwell Banker Apex, Realtors
214.405.3640
Your trusted real estate advisors providing a joy filled experience!
Real Estate Update – November 7-13, 2011 – Episode 279
Evan and Richard of The Matteson Group review and discuss November 7-13th, 2011 in the real estate market in the Rockwall and Heath Texas areas.
Current Properties for Sale: 498 homes
Sales: 8
Sale Price to List Price: 95%
Average Days on Market: 131 days
Number of Showings: 390
For more info:
www.TheMattesonGroup.com
Coldwell Banker Apex, Realtors
214.405.3640
Your trusted real estate advisors providing a joy filled experience!
Real Estate Update – 10-31 to 11-6, 2011 – Episode 278
Evan and Richard of The Matteson Group review and discuss October 31 to November 6th, 2011 in the real estate market in the Rockwall and Heath Texas areas.
Current Properties for Sale: 495 homes
Sales: 12
Sale Price to List Price: 94%
Average Days on Market: 80 days
Number of Showings: 331
For more info:
www.TheMattesonGroup.com
Coldwell Banker Apex, Realtors
214.405.3640
Your trusted real estate advisors providing a joy filled experience!
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