Monday March 3, 2014
Taylor Real Estate's
Executive Summary
HOUSTON, TX 77008
Single Family Homes
This Week
The median list price in HOUSTON, TX 77008 this week is $425,000.
Inventory is up and Market Action is trending down recently. While
days-on-market appears to be trending lower, the overall
conditions are weakening a bit.
Real-Time Market Profile
Trend
Median List Price
$ 425,000
Asking Price Per Square Foot
$ 199
Average Days on Market (DOM)
87
Percent of Properties with Price Decrease
16 %
Percent Relisted (reset DOM)
9%
Percent Flip (price increased)
8%
Median House Size (sq ft)
2260
Median Lot Size
Less than 4,500
Median Number of Bedrooms
3.0
±+
==
≠≠
Median Number of Bathrooms
Supply and Demand
Market Action Index
The Market Action Index has been trending lower for several weeks
while prices have remained relatively stable. If inventory continues
to grow relative to demand however, it is likely that we will see
downward pressure on pricing.
±+
No change
2.5
Buyer's Advantage
28.3
≠≠
== Strong upward trend ≠≠ Strong downward trend
= Slight upward trend ≠ Slight downward trend
Price
Market Action Index
We continue to see prices in this zip code hovering around their
high point. Look for a persistent down-shift in the Market Action
Index before we see prices deviate from these levels.
Price Trends
7-Day Rolling Average
90-Day Rolling Average
Buyer/Seller Cutoff
The Market Action Index answers the question "How's the
Market?" by measuring the current rate of sale versus the
amount of the inventory. Index above 30 implies Seller's
Market conditions. Below 30, conditions favor the buyer.
Quartiles
7-Day Rolling Average
Characteristics per Quartile
Quartile
Median Price
Sq. Ft.
Top/First
$ 727,000
Upper/Second
90-Day Rolling Average
Investigate the market in quartiles where each quartile is 25% of homes
ordered by price.
Lot Size
Beds
Baths
Age Inventory New Absorbed DOM
2860
Less than
4,500 sqft
3.0
2.5
1
86
8
1
81
Most expensive 25% of properties
$ 484,900
2446
Less than
4,500 sqft
3.0
3.0
1
86
2
3
84
Upper-middle 25% of properties
Lower/Third
$ 396,250
2192
Less than
4,500 sqft
3.0
3.2
1
86
7
3
91
Lower-middle 25% of properties
Bottom/Fourth
$ 329,900
1641
4,501 6,500 sqft
3.0
2.0
54
87
5
5
92
Least expensive 25% of properties
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