Low and high ends of the housing market record the greatest sales volume
HOUSTON — (December 21, 2010) — For the fifth month in a row following expiration of the 2010 homebuyer tax credit, sales of single-family homes across Greater Houston declined in November while the prices of those homes rose. Despite the lingering sales chill, the market enjoyed boosts in both the average and median price, achieving the highest levels ever seen in a November.
According to the latest monthly data compiled by the Houston Association of REALTORS® (HAR), November sales of single-family homes throughout the Houston market fell 22.0 percent when compared to November 2009. However, on a year-to-date basis, 2010 single-family home sales are off just 5.6 percent from 2009 levels. Positive sales activity was recorded in the low and high ends of the housing market, with declines affecting homes priced between $80,000 and $500,000.
Luxury home sales helped drive the latest pricing gains. The average price of a single-family home increased 11.8 percent from November 2009 to $219,560 while the November single-family home median price—the figure at which half of the homes sold for more and half sold for less—edged up 1.7 percent from one year earlier to $152,500.
See full article: MLS Press Release