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Houston Real Estate is on track for another Record Year!

Entering the final weeks of the year, home sales continue to outpace 2017’s record levels

HOUSTON — (December 12, 2018) — In a display of textbook seasonality, with the holidays sending consumers into their annual retail frenzy, Houston home sales slowed slightly in November. However, it was not enough to knock the real estate market off its record-setting pace.

According to the latest monthly report from the Houston Association of Realtors® (HAR), 6,159 single-family homes sold in November compared to 6,285 a year earlier, representing a 2.0-percent decline. On a year-to-date basis, home sales are 4.6 percent ahead of 2017’s record volume. Inventory edged up from a 3.6-months supply to 3.9 months.

The median price of a single-family home (the figure at which half of the homes sold for more and half for less) rose 4.4 percent to $235,000 and the average price increased 4.3 percent to $295,084. Both represent the highest prices ever for a November. All housing segments experienced gains except for homes priced at $150,000 and below The best-performing segment was the luxury market, consisting of homes priced at $750,000 and above, which climbed 12.3 percent.

Sales of all property types totaled 7,400 – statistically flat versus last year. November’s total dollar volume increased 3.9 percent to $2.1 billion.

“The Houston housing market remains on track for another record year, which was an almost unimaginable concept when the year began, on the heels of so much devastation from Hurricane Harvey,” said HAR Chair Kenya Burrell-VanWormer with JPMorgan Chase. “As 2018 draws to a close, we see slow but steady growth in the supply of housing as well as a strong job market, which together make for a healthy real estate climate.” 

Lease Property Update

Consumers kept Houston’s lease market humming in November. Single-family home rentals soared 15.3 percent while leases of townhomes and condominiums rose 0.6 percent. The average rent for single-family homes declined 1.3 percent to $1,743 while the average rent for townhomes and condominiums edged up 0.5 percent to $1,505.

November Monthly Market Comparison

The Houston real estate market had a largely positive performance in November and remains on track to set new sales records when the books are closed on 2018. As consumers turned their attention to holiday shopping, single-family home sales fell slightly and total property sales were statistically flat compared to November 2017; total dollar volume and pricing were up. Month-end pending sales for single-family homes totaled 6,052, which represents a 5.8 percent increase over last year. Total active listings, or the total number of available properties, climbed 8.9 percent to 40,530. Single-family homes inventory saw some growth in November, reaching a 3.9-months supply versus a 3.6-months supply a year earlier. For perspective, housing inventory nationally stands at a 4.3-months supply, according to the latest report from the National Association of Realtors® (NAR).

Single-Family Homes Update

Sales of single-family homes declined 2.0 percent in November, as 6,159 units sold across the greater Houston area compared to 6,285 a year earlier. However, on a year-to-date basis, sales volume is running 4.6 percent ahead of 2017’s record pace and is expected to remain in record territory as we close out 2018. Prices reached the highest levels ever for a November. The median price increased 4.4 percent to $235,000 while the average price rose 4.3 percent to $295,084. Days on Market (DOM), or the number of days it took the average home to sell, improved to 60 from 62 a year earlier. Inventory registered a 3.9-months supply, up slightly from 3.6 months a year ago.

Broken out by housing segment, November sales performed as follows:

  • $1 – $99,999: decreased 25.3 percent
  • $100,000 – $149,999: decreased 24.3 percent
  • $150,000 – $249,999: increased 2.3 percent
  • $250,000 – $499,999: increased 7.2 percent
  • $500,000 – $749,999: increased 1.9 percent
  • $750,000 and above: increased 12.3 percent

HAR also breaks out sales data for existing single-family homes. Existing home sales totaled 4,945 in November, a decline of 3.2 percent versus the same month last year. The average sales price rose 5.7 percent to $283,523 while the median sales price increased 3.1 percent to $218,000.

Townhouse/Condominium Update

November saw a drop of 2.8 percent in townhome and condominium sales, with 488 units sold versus 502 a year earlier. The average price rose 9.0 percent to $213,043 and the median price increased 4.5 percent to $165,000. Inventory grew from a 3.7-months supply to 4.1 months.

Houston Real Estate Highlights in November

  • Single-family home sales fell 2.0 percent year-over-year, with 6,159 units sold;
  • On a year-to-date basis, home sales are up 4.6 percent and on track for breaking 2017’s record performance when December data are compiled;
  • Days on Market (DOM) for single-family homes was 60 versus 62 a year earlier;
  • Total property sales were statistically flat, with 7,400 units sold;
  • Total dollar volume rose 3.9 percent to $2.1 billion;
  • The single-family home median price climbed 4.4 percent to $235,000, a November high;
  • The single-family home average price also achieved a November record, rising 4.3 percent to $295,084;
  • Single-family homes months of inventory reached a 3.9-months supply, up from 3.6 months last November, but below the national supply of 4.3 months reported by NAR;
  • Townhome/condominium sales dropped 2.8 percent, with the average price up 9.0 percent to $213,043 and the median price up 4.5 percent to $165,000;
  • Leases of single-family homes jumped 15.3 percent with the average rent down 1.3 percent to $1,743;
  • Volume of townhome/condominium leases rose 0.6 percent with the average rent up 0.5 percent to $1,505.
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August 2018 Newsletter by Christine Kalmbach

2018-08-27 22.59.42-Edit-1-3 Welcome to the most current Housing Trends eNewsletter. This eNewsletter is specially designed for you, with national and local housing information that you may find useful whether you’re in the market for a home, thinking about selling your home, or just interested in homeowner issues in general.

Please click on this link to view the Housing Trends August 2018 Newsletter:

The Housing Trends eNewsletter contains the latest information from the National Association of real estate professional, the U.S. Census Bureau, reports and other sources.

Housing Trends eNewsletter is also filled with local and national real estate sales and price activity provided by MLSs and the National Association of Realtors, U.S. Census Bureau key market indicators, housing market video reports, blogs, real estate glossary, maps, mortgage rates and calculators, consumer articles, community reports that map shopping, schools, recreation and more.

If you are interested in determining the value of your home, click the “Home Evaluator” link for a free evaluation report:

Sound decisions can only be made with accurate and reliable information, and I am happy to be a trusted resource for you. Thank you for the opportunity to provide you with this monthly eNewsletter, and I look forward to answering any questions you may have and to the opportunity to be your real estate professional in the future.

Sincerely yours,

Christine Kalmbach
Keller Williams Platinum
19708 Northwest Fwy #2800 Houston TX 77065
281-856-0808 | 832-755-2954

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A Dream Come True!

“I can do all things through Jesus Christ whom gives me strength.” Philippians 4:13
I have always loved real estate! I used to draw floor plans and furniture when I was a kid. I also made a “home” when I played Matchbox cars with my brothers. I watched “This Old House” growing up and now we have Fixer Upper (well re-runs anyhoo)!
I always wanted to be a real estate agent and now my dream has come true! I prayed hard for the Lord to show me if I could do this and He has. He has opened doors for me and put people in my path to confirm it (with my husband being my biggest supporter)!
So I hope you will consider working with me and referring people you know to me! Thank you in advance for your consideration!
Why work with Christine Kalmbach, Realtor, at Keller Williams Platinum? Because I am passionate about serving you and your real estate needs and goals! Whether you need to lease, sell or buy a home, it is definitely a p-r-o-c-e-s-s! It can evoke many emotions; a deal may happen or not happen depending on so many variables and factors. Let me help you navigate the home rental, home selling or home buying process every step of the way! I will really listen to your needs and do my best to deliver a superior experience!
I am proud to be a licensed Real Estate Agent in Texas! I attended the Champions School of Real Estate with over 180+ hours of classroom instruction and study. I am a member of the Houston Association of Realtors, Texas Association of Realtors and National Association of Realtors! I invest every week in training on Texas Real Estate, specifically, in the Houston Real Estate Market and trends!
As an agent, I chose to work with Keller Williams Platinum because they are #1, rising above the rest of the agencies out there! Keller Williams is #1 in
*AGENT COUNT (165,642 as of 2017)let me know if you or a loved one need help in any other market – we are nationwide and global!
*VOLUME ($300,000,000 as of 2017) – commitment to growth and excellence! I will work to get you the most for your money!
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“I cannot believe that the purpose of life is to be happy. I think the purpose of life is to be useful, to be responsible, to be compassionate. It is, above all, to matter, to count, to stand for something, to have made some difference that you lived at all.”Gary Keller, The ONE Thing
I believe my purpose is to glorify God through my vocation and I can do all things through Jesus Christ whom gives me strength! I am available to give you excellent, personal service via in person, text, phone, chat and email. I will work as an advocate for you to achieve your real estate goals! If you or anyone you know is looking to lease, buy, sell, rent or invest in real estate, call me now 832.755.2954 or email me at! Please refer your family and friends to me – referrals are the backbone of my business! Thank you and God bless you!
Christine Kalmbach 832-755-2954
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