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):
|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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