Did you hear the good news? Houston real estate is doing well. The Houston Association of Realtor’s released a market report, Nov 16, 2011 which details the improving local Houston market.
Here are some highlights:
- Five consecutive months of positive home sales
- Sales were up 3.4% this year
- All-time high for avg. price in Houston for October at $208,506
- Townhome/condo sales rose for the fourth straight month
- Houston single family home months of inventory (6.6 months) is below national average (8.5 months.)
The Houston market has continued to stay strong in sales with strong local markets like The Woodlands, Cinco Ranch in Katy and Inner Loop. The Woodlands market has seen an influx and will continue to as more and more Chevron jobs and people move to the area to be closer to the new head quarters. Master planned communities also do well and Cinco Ranch is no exception. With the great schools and community amenities, Cinco Ranch is one hot market! The other area that continues to be desirable for home buyers is the Inner Loop market.
You can view the HAR video report here.