Rising Property Sales for a 10th Straight Month!

HOUSTON PROPERTY SALES RISE FOR A TENTH STRAIGHT MONTH Average and median prices reach the highest levels for a March in Houston while inventory maintains its lowest level in more than three years HOUSTON — (April 17, 2012) — The Houston real estate market enjoyed a tenth consecutive month of rising sales in March, with homes continuing to sell quickly enough to keep housing inventory at its lowest level since December 2008. Average and median prices achieved the highest levels for a March in Houston, with the average price coming just a few dollars shy of the all-time high set in June 2008. According to the latest monthly data prepared by the Houston Association of REALTORS® (HAR), March sales of single-family homes rose 7.8 percent versus one year earlier. That follows February's 15.6 percent jump which was the biggest sales boost since last September. Declining sales of homes priced below $80,000 combined with increased activity in the luxury housing segment fueled the pricing gains. "March was an excellent month for home sales in Houston and the healthy appreciation in pricing is welcome news as well," said Wayne A. Stroman, HAR chairman and CEO of Stroman Realty. "Inventory remains at its lowest level in more than three years and is outpacing the national real estate market. The moderation in pending sales in March could possibly translate to a leveling off of sales before we enter the summer buying season, but we will know for sure next month." The March single-family home average price rose 5.7 percent year-over-year to $227,270, the highest level for a March in Houston and only $70 below the all-time high reached in June 2008. The median price—the figure at which half of the homes sold for more and half sold for less—climbed 7.8 percent to $161,750, also a record high for a March in Houston. Foreclosure property sales reported in the Multiple Listing Service (MLS) fell 12.8 percent year-over-year in March. Foreclosures comprised 19.6 percent of all property sales, which is down from the 21.1 percent level observed over the past 12 months. The median price of foreclosures in February was flat at $81,500. March sales of all property types in Houston totaled 5,908, an increase of 7.4 percent compared to March 2011. Total dollar volume for properties sold during the month soared 15.2 percent to $1.3 billion versus $1.1 billion a year earlier. March Monthly Market Comparison The month of March brought Houston's overall housing market positive results when all sales categories are compared to March 2011. Total property sales, total dollar volume and average and median pricing rose on a year-over-year basis. Month-end pending sales for March totaled 4,162. That is down a fractional 0.7 percent from last year and may suggest a slight tapering of sales when the April housing data are compiled. The number of available properties, or active listings, at the end of March declined 17.8 percent from March 2011 to 41,997. For the second month in a row, the inventory of single-family homes held to the lowest level since December 2008-5.6 months. That compares to 7.5 months one year earlier and means that selling the entire inventory single-family homes currently on the market would take 5.6 months to complete based on the past year's sales activity. The figure is superior to the national inventory of single-family homes of 6.4 months recently reported by the National Association of REALTORS® (NAR). These indicators continue to demonstrate that Houston has a balanced real estate marketplace. CATEGORIES MARCH 2011 MARCH 2012 PERCENT CHANGE Total property sales 5,499 5,908 7.4% Total dollar volume $1,122,788,737 $1,293,042,237 15.2% Total active listings 51,091 41,997 -17.8% Total pending sales 4,190 4,162 -0.7% Single-family home sales 4,634 4,996 7.8% Single-family average sales price $214,980 $227,270 5.7% Single-family median sales price $150,000 $161,750 7.8% Months inventory* 7.5 5.6 -25.9% * Months inventory estimates the number of months it will take to deplete current active inventory based on the prior 12 months sales activity. This figure is representative of the single-family homes market. Single-Family Homes Update March sales of single-family homes in Houston totaled 4,996, up 7.8 percent from March 2011. This marks the tenth consecutive monthly increase. Broken out by housing segment, March sales performed as follows: •$1 - $79,999: declined 8.4 percent, •$80,000 - $149,999: increased 3.5 percent •$150,000 - $249,999: increased 19.7 percent •$250,000 - $499,999: increased 12.1 percent •$500,000 - $1million and above: increased 12.5 percent At $227,270, the average price of single-family homes rose 5.7 percent from last March, resulting from a combination of increased sales activity among luxury homes and a decline in the sales of homes priced below $80,000. The average price achieved a March high but fell just shy of the historic level of $227,340 reached in June 2008. At $161,750, the median sales price for single-family homes climbed 7.8 percent year-over-year, also achieving a high-point for a March in Houston. HAR also breaks out the sales performance of existing single-family homes throughout the Houston market. In March 2012, existing home sales totaled 4,088, a 6.3 percent increase from March 2011. The average sales price rose 6.5 percent from last year to $212,524 and the median sales price increased 7.4 percent to $145,000. Townhouse/Condominium Update The number of townhouses and condominiums that sold in March declined 3.6 percent compared to one year earlier. In the greater Houston area, 374 units were sold last month versus 388 properties in March 2011. The average price jumped 15.2 percent to $166,228 compared to March 2012. The median price of a townhouse/condominium rose 17.4 percent to $135,000. Lease Property Update Demand for lease properties persisted throughout the Houston market in March. Single-family home rentals rose 10.3 percent compared to one year earlier and year-over-year townhouse/condominium rentals increased 3.8 percent. Houston Real Estate Milestones in March •Volume of single-family home sales rose 7.8 percent, accounting for the tenth consecutive monthly increase; •At $227,270, the single-family home average price reached the highest level for a March in Houston and came just $70 short of the all-time high achieved in June 2008. •At $161,750, the single-family home median price also hit the highest level for a March in Houston; •Single-family home rentals rose 10.3 percent; •Townhouse/condominium rentals increased 3.8 percent; •5.6 months inventory of single-family homes remains at the lowest level since December 2008 and compares favorably to the national average of 6.4 months. The computerized Multiple Listing Service of the Houston Association of REALTORS® includes residential properties and new homes listed by REALTORS® throughout Harris, Fort Bend and Montgomery counties, as well as parts of Brazoria, Galveston, Waller and Wharton counties. Residential home sales statistics as well as listing information for more than 50,000 properties may be found on the Internet at http://www.har.com. The information published and disseminated to the HAR Multiple Listing Services is communicated verbatim, without change by Multiple Listing Services, as filed by MLS participants. The MLS does not verify the information provided and disclaims any responsibility for its accuracy. All data is preliminary and subject to change. Monthly sales figures reported since November 1998 includes a statistical estimation to account for late entries. Twelve-month totals may vary from actual end-of-year figures. (Single-family detached homes were broken out separately in monthly figures beginning February 1988.) Founded in 1918, the Houston Association of REALTORS® (HAR) is a member organization of real estate professionals engaged in every aspect of the industry, including residential and commercial sales and leasing, appraisal, property management and counseling. It is the largest individual dues-paying membership trade association in Houston as well as the second largest local association/board of REALTORS® in the United States.

HEB Buys land by Spring Trails and Benders Landing

Grocer expands in Spring A large commercial tract is beginning to taking shape in South Montgomery County. Rapidly expanding grocery chain H-E-B has purchased 21 acres at Riley Fuzzel Road and Rayford Road for a new store. The Spring tract, surrounded by Spring Trails, Bender’s Landing and other residential developments, will have frontage on the planned Grand Parkway. The site is part of a larger tract slated for commercial development. The seller, a private partnership from The Woodlands was represented by Zach Armstrong of the J. Beard Real Estate Co. in The Woodlands. The buyer, HEB Grocery Company LP was represented by Baker Managers LLC

ExxonMobil Moving to The Woodlands Area

So, the big news is out and we now have confirmed from the horse's mouth that Exxon Mobil is ready to relocate it's employees from all over Houston to the great North Side area near The Woodlands. Sometimes I refer to it as South Dallas when speaking to my friends who live on the other side of town. This could cause a major commute for those employed in further locations. Therefore, if you are looking to relocate closer to your future workplace, please let me know. I can show you the many sides of the Northern Houston Suburbs and help you explore your opportunities of relocating closer to work. If you want land, or gated communities or a nice, quiet safe neighborhood; from large to small, I can handle it all! Please contact me for a Free Guide to the Northside.

What's Happening Around Us?

You know about the town homes already near WindRose...what else is going in our area?

2 new restaurants are going in next to Cheddar's at Louetta and I-45. The one behind is a Mexican Restauraunt you may have seen near Willowbrook called Juan and Lefty's and the other is a Salad Bar type restauraunt.

I've never been to either, but I did not hear good reviews from a couple of people on the Mexican restaurant. I wish them both the best and I am hoping they take some of the over flow from Cheddar's because that place is PACKED almost all day every day!

I must also plug a new concept close to our area called Bullritos! www.Bullritos.com You guessed it...a Burrito Restaurant. This one is located in the newly renovated retail center at the corner of Stuebner Airline and Cypresswood; near the courthouse. If you have been to Which Wich, then you will recognize the ordering process of checking off items on a paper bag and submitting it to the cashier for a Bullrista (burrito-roller) to make your item. They also have soft tacos and bowls, flavored margaritas and beer). If you are a meat lover, I highly recommend the Carne Guisada in a Burrito or a Soft Taco...to die for, especially on a cold day like today! P.S. Bullrito's is a concept created by my husband's cousin and it is now a franchise....Go Russell!!!

Let's Talk Turkey...about Real Estate

If you want something to talk about over your Turkey next week, read on...

First off, Houston's Market is still one of the best markets in the country. Last month, total property sales in the Houston Association of Realtors MLS were 4,404. That is 23.8% down from last year. Active listings are up 16.8%. Although, the average Single Family Home price is up 5.6% from last year at $208,459; the highest level recorded for an October in Houston. The median Single Family Home Price rose a little to $150,000; that's up .7% from last October, which is also the highest recorded for an October in Houston.

With 7.7 months of inventory (that's over 53,000 active listings), Houston is still below the national average of 10.7 months according to the NAR. Anything over 6 months of inventory makes it a buyer's market. With it being a buyer's market, you would think there would be a lot of buyers, especially with the historically low interest rates.

On the other hand, year-over-year townhouse/condominium rentals increased 25.7 percent. The reason for this is that of the 1200 to 1400 people moving to Texas each month, some of them still have a home to sell in another state before they can purchase here. Houston is still one of the most popular urban destinations of the people moving to Texas. So, hold onto your hats; let's stay positive and remember that we are still very fortunate to live and own, and invest in Houston area Real Estate.

If you have any questions about the value of your home or if you want to take advantage of this great buyer's market, please call or email me; I don't mind at all!

The Woodlands as one of America's top 10 coolest suburbs

THE WOODLANDS, Texas — Travel + Leisure listed The Woodlands as one of

America's top 10 coolest suburbs

that's worth a visit. The Woodlands came in at No. 8 out of 10 suburbs in our country.

The Woodlands was picked for its thriving town center, filled with restaurants, bars and major retail outlets, all accessible by foot or trolley, and concerts at The Cynthia Woods Mitchell Pavilion.

Travel + Leisure also cited Fox Sports Network and Anadarko Petroleum as being headquartered there, and there is an elaborate park and lake system which can be reached by water taxi.

The Woodlands is 25 miles from downtown Houston.

Other suburbs listed by Travel + Leisure as worth a visit are Montclair, N.J., Evanston, Ill., Lakewood, Ohio, Bellevue, Wash., Roswell, Ga.., and Alameda, Calif.

Keller Williams - The Woodlands Recognizes it's Top Agents

SOUTH TEXAS REGION TOP PRODUCERS MAY:
TOP 20 AGENTS IN:

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Shelly Ybarra 9 Units

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Shelly Ybarra 8 Units