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Fewer Homes for Sale in Houston while Listing Prices Rise
The number of homes for sale in Houston fell in January, while the average listing price increased by 3.34%.
The average price of homes for sale was $302,532, which was up from $292,424 in December. However, the median price of homes for sale - the number at which half of the homes listed for sale were for more and half were for less - decreased 0.07% to $148,210.
"From Katy to The Woodlands, all segments of residential and commercial real estate are continuing to prosper," said Chris Knighton, from New Skyline Realty who released the report. "Average home prices are being driven upwards from an increasing market demand due to consumer outlook and available funding as well as a decrease in the overall supply in the market."
"The Houston area is unique from the rest of the country with its booming job growth across all industries including the oil and gas fields," Knighton said.
A noteworthy project that is driving demand in The Woodlands area is the new 1,800 Acre Exxon Mobil HQ near I-45 and the Hardy Toll Road. With many new employees relocating to the area and secondary industries needed to service this influx of residents, this upward trend is likely to continue throughout 2013 with no signs of slowing down in the near future.
The prices varied according to the size of the homes
- 2 bedroom - $171,206 - an increase of 0.86% from December
- 3 bedroom - $230,043 - an increase of 1.04% from December
- 4 bedroom - $360,239 - an increase of 3.59% from December
- 5 bedroom - $1,004,619 - an increase of 5.48% from December
The average home for sale has 3 bedrooms and 2.16 bathrooms.
New Skyline Realty's Expert Real Estate Advisors have been servicing Brokerage needs for the Greater Houston Area since 2006. The company is Headed by Chris Knighton who has participated in all facets and transaction types in Residential and Commercial Real Estate. New Skyline has closed transactions from a $900 per month residential lease to a $22 Million Multifamily Apartment Complex in The Woodlands, TX. Utilizing the latest technologies available, New Skyline Realty has closed deals in Houston, Katy, Cypress, Spring, Tomball, The Woodlands and Conroe.