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The temperature outside isn't the only thing that is "hot" this summer. Check out the Houston real estate market!
"New data shows that the Houston real estate market had the highest one-month sales volume of all time — and boasts new highs for both average and median prices in June 2018.
According to the latest monthly report from the Houston Association of Realtors (HAR), 8,518 single-family homes sold in June, compared to the last record high of 8,367 homes exactly one year earlier. That represents a 1.8 percent increase... The interest in more costly homes is growing.
Houston Area June Performance Breakdown:
$500,000 - $749,999: increased 13.5 percent
$750,000 and above: increased 18.4 percent
Additionally, June sales of all property types broke the 10,000-mark for the first time in history, totaling 10,115. That represents an increase of 1.7 percent versus the same month last year. The total dollar volume was up 6.6 percent, reaching more than $3 billion."
Luxury Market Lowdown
If that doesn't impress you, let's break it down to a smaller scale to really see the impressive nature of this data.
We decided to focus on one zip code in Houston to display the outstanding sales' trends and the immense impact that it had over the last five years.
Although we are only a little over halfway through the year, the 77024 area has hit record sales and it doesn't seem to be cooling down anytime soon.
The 77024 area had 124 sales in the month of June, 2018, totaling $110,771,687. This number is almost double the sales volume of June, 2017, which had a total of $63,918,206 in sales.
The second highest record total that comes close to this number was June, 2014 - sales totaled $91,426,952. June 2018 record sales in 77024 not only exceed the months of June for the past five years, but also all months during the past five years in 77024. WOW!
Our city added 86,300 jobs in the last twelve months, which is 2.68% higher than last year. (Dr. Ted C. Jones, Stewart Title Chief Economist)
This coupled with Memorial's strong presence with SBISD schools, may very well be the reasons for this incredible growth in sales. We will continue to monitor the Houston market trends and look forward to sharing more stats in the coming weeks.
If you are thinking about buying or selling, please give us a call and we will provide a complimentary analysis of your property and discuss the process.
Current Listings For Sale in 77024
Beautifully updated at the end of a private street in highly sought after Memorial Forest, zoned to Frostwood, Memorial Middle & Memorial High. Light filled dining & living space opened up in 2005 for fantastic entertaining flow.
Listing Agent: Kim Zander
Incredible opportunity to build your dream home in the heart of coveted Sandalwood neighborhood. This property has great depth and wonderful mature trees.
Listing Agent: Julie Sheets
Non MLS. Beautifully well maintained, traditional home on quiet cul-de-sac in Willowick Section 1 in Piney Point Village. Zoned to Memorial Drive Elementary, SBMS and Memorial High School.
Listing Agent: Beth Stephan
Thank you for reading!