Current market for $1,000,000+ Greater Houston, TX

It is somewhat mind boggling to realize that in the Greater Houston area there are currently 960 single family homes priced at $1,000,000 or more. This is especially interesting to swallow when one considers only about 2-3% of the overall population qualifies for a home in this price range. But wait, let's look at all Greater Houston single family listings. As of today there are 36,231 single family listings in our MLS. So the $1,000,000 is about 2-3% of total listings.

Also, throughout the entire Houston, TX area there are 63 listings priced at $3,000,000 or more. Of these 63, 4 are located in Carlton Woods in The Woodlands, TX.

Just thought you might enjoy some of this info. Always check out www.thehometownteam.com for all your real estate needs.

Houston Luxury Homes with Emphasis on The Woodlands

You might wonder what really constitutes a luxury home. By definition, a luxury home is a home priced above $500,000 or is priced in the top 10% of the local market, whichever is greater. In the greater Houston area where prices vary so, a price of $500,000 or greater is a luxury home. In The Woodlands (HAR MLS area 15, location 107) however, where prices average a little more, a home priced at least $600,000 is classified as a luxury home. In 2007, there were 2549 single family homes sold in HAR MLS area 15, location 107. Of those, 257 single family homes were priced at least $600,000. 76 homes with the same MLS criteria sold for $1,000,000 or more in 2007. The highest priced home (in MLS) sold in 2007 sold for $3,174,500 in The Woodlands.
So how is 2008 stacking up in comparison? Interestingly, there have been 48 single family homes reported in MLS in The Woodlands that were listed for $600,000 or more that have sold and closed this year. The highest priced home sold so far this year in The Woodlands sold for $3,250,000.
To view all MLS listings, visit www.TheHometownTeam.com and find your luxury home. Carol is a certified luxury home specialist and is ready to assist you.

What is really happening in Montgomery County real estate?

Montgomery County MLS Residential Housing Activity
The above chart is from the Real Estate Center at Texas A & M University in College Station. It shows the total number of home sales (from MLS) in Montgomery County, TX since January 2006. As you can see, sales so far in 2008 are right on track. For example, in February 2006, there were 500 homes sold; in February 2006, there were 592; and in February 2008, there were 500. The average price of those 500 in 2008 was $225,200 with a median price of $170,900. At month's end, there was a 5.6 months' inventory of homes.
There has never been a better time to buyer or sell in Montgomery County. Call your Montgomery County experts, Carol and Erol Knott, today and put them to "Work for You!"
713-253-7812 or 281-362-2504