Home Sales Prices Drop in November
Posted by Admin SATXProperty on Saturday, July 16th, 2011 at 7:46pm.
TEXAS (Real Estate Center, MarketWatch) – A total of 12,816 existing homes were sold in Texas last month, a 32.9 percent decline from November 2008, according to MLS data compiled by the Real Estate Center at Texas A&M University. The median price dropped 5.4 percent to $136,900 during the same period, and the state finished the month with a 6.8-month inventory of existing homes.
Here is how select Texas cities fared in November (data current as of Dec. 23, 2008):
| Sales |
Change from |
Median Price |
Change from Last Year |
Months' Inventory |
|
| Amarillo | 140 | down 44.7% | $116,500 | up 1.5% | 5.8 |
| Austin | 1,086 | down 39.8% | $179,900 | down 2.9% | 5.7 |
| Beaumont | 153 | down 13.1% | $134,400 | up 12.8% | 7.2 |
| Brownsville | 56 | down 39.8% | $88,000 | down 25.9% | na |
| Bryan–College Station | 105 | down 23.4% | $139,200 | up 5.1% | 5 |
| Corpus Christi | 223 | down 31.2% | $130,500 | up 0.4% | 9.5 |
| Dallas | 2,776 | down 32.7% | $144,100 | down 7.3% | 6.3 |
| El Paso | 362 | down 6.5% | $132,800 | down 0.6% | 12 |
| Fort Worth | 492 | down 38.1% | $110,000 | down 7.3% | 5.9 |
| Houston | 3,747 | down 32.1% | $137,200 | down 7.9% | 6.3 |
| Laredo | 54 | down 36.5% | $117,500 | down 16.6% | 10 |
| Longview-Marshall | 134 | down 31.6% | $121,200 | down 3% | 6.8 |
| Lubbock | 151 | down 41.5% | $103,600 | up 3.6% | 5.5 |
| San Antonio | 1,064 | down 33.1% | $140,600 | down 3% | 8 |
| Texarkana | 49 | down 24.6% | $80,800 | down 25.5% | 7.4 |
| Tyler | 164 | down 38.1% | $122,700 | down 9% | 10.8 |
| Victoria | 50 | down 28.6% | $120,000 | up 3.8% | 5.5 |
| Waco | 114 | down 32.5% | $100,000 | down 11.4% | 7.9 |
Additional home sales data for these and other major Texas cities are available on the Center’s website.
Nationally, sales of existing single-family homes and condos dropped 8.6 percent last month to a 4.49 million seasonally adjusted annual pace, according to the National Association of Realtors. At $181,300, the median sales price was down 13.2 percent from a year earlier. Inventory was at 11.2 months.
Meanwhile, sales of new homes nationally were at 407,000 in November, down more than 35 percent from a year ago, according to the U.S. Commerce Department. The median sales price was $220,400. At the current sales pace, there was an 11.5-month inventory.
Texas A&M Real Estate Center news brought to you by Mission Realty,Inc. San Antonio Real Estate
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