A Quick Glance at Real Estate Sales in Texas Cities July 2009

Below is sales data from the Texas A and M Real Estate Center regarding the real estate sales market in various cities across Texas for July 2009.

TEXAS (Real Estate Center, CNNMoney.com) – A total of 22,511 existing homes were sold in Texas last month, a 4.8 percent decline from July 2008, according to MLS data compiled by the Real Estate Center at Texas A&M University. The median price increased 0.6 percent to $153,800 during the same period, and the state finished the month with a 7.4-month inventory of existing homes.

Here is how select Texas cities fared in July (data current as of Aug. 28, 2009):

Sales Change from
Last Year
Median
Price
Change from
Last Year
Months’
Inventory
Amarillo 254 down 21.6% $124,600 up 1.2% 7.2
Austin 2,288 down 0.2% $189,700 down 0.6% 7
College Station–Bryan 304 down 15.1% $151,000 down 2.3% 6.8
Dallas 4,815 down 6% $164,800 up 0.8% 6.5
El Paso 478 down 4.8% $135,200 down 2.4% 9.1
Fort Worth 840 down 12.3% $118,700 down 1.1% 6.6
Harlingen 78 up 20% $95,000 up 13.6% 28.7
Houston 6,393 down 4.8% $161,900 up 1.3% 6.8
Killeen–Fort Hood 257 down 6.2% $124,800 down 0.9% 10
Laredo 91 up 11% $122,800 up 2.3% 9
Lubbock 348 up 0.9% $110,300 up 0.3% 5.5
Palestine 21 down 16% $102,500 down 2.4% 10.1
San Angelo 125 down 5.3 % $121,700 up 10.6% 5.6
San Antonio 2,040 up 7.9% $156,900 up 2.3% 8.4
Waco 213 down 14.5% $114,600 down 1.4% 8.4

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 last month were up 5 percent from July 2008, according to the National Association of Realtors.

As you can see, of fifteen cities reported for median price sold, 8 are up, 7 are down. Harlingen is doing best at +15%, no city is down more than 2.5%. Texas continues to be a solid and stable real estate market across the state, relative to the rest of the country.

If you’ve never checked out the Real Estate Center website at http://recenter.tamu.edu/ do so. There is a lot of interesting data and charts. Also, at the top left of the page link, you can sign up for the Real Estate email newsletter, which is mostly a compilation of snippets of real estate news from Texas newspapers, but also includes occassional data such as that shown above.

Posted by Steve
7 years ago
Steve

Steve is a Real Estate Blogger, Husband and Dad, UT Austin Grad, Runner, Real Estate Broker and owner of Crossland Team and Crossland Real Estate in Austin TX.

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Aaron - 7 years ago

Steve,

Glancing around the TAMU data, I was struck by how much the number of “homes for sale” had plummeted in the big cities.

Dallas and Houston both have about 20% fewer homes for sale. Austin and San Antonio have 10% fewer.

Are people giving up on selling their house? Have the foreclosures been cleared out, or perhaps the banks are holding off? Are people just happy where they are at?

These data also seem to be affecting the months of inventory data. Is there a hidden inventory out there, or are there just fewer people trying to sell their home?

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Steve - 7 years ago

Hi Aaron, I think the decreases are just a return to normal, so it looks like a bigger drop than it really is.

Steve

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