First Quarter2006 – Single-family home sales
YTD Review of the Market for Houston and surrounding areas:

Houston Overall Statistics March YTD 2006
>Single-family home sales are up by 17% in sold units over Third Quarter YTD 2005 sales with 14,844 MLS recorded sold units,
>Dollar volume sold in MLS through First Quarter 2006 is $2,805,044,990 which is a 26% increase in dollar volume sold over last year.
>Average sales price YTD is $188,968 or 7% greater than this time last year.
>Active listings are down by 2% with 28,839 single-family homes on the market.
>Contracts written, which represent First Quarter buyer demand in Houston are up 14% over this time last year with 11,576 homes that have gone under contract.
>Average sales price per square foot is $84, which is 5% greater than last year.
>Days on the Market, a statistic that is good if it is declining has gone down by 5% since last year and the average time to sell a home in Houston is 86 days.
>With sales and contracts pending on the upswing in the first quarter of the year, and active listings and days on the market on the decline, home price appreciation, even in single digit denominations, is a high probability.

Bear Creek – Area 8

· Sales have experienced a healthy 16% increase in the Bear Creek Market area over First Quarter 2005 with 603 MLS recorded home sales!
· Listings are DOWN in the Bear Creek Market area by 8% over this time last year with 1,089 homes listed and on the market.
· Contracts pending are up by 32 units with 480 homes receiving contracts. First Quarter contracts written last year registered at 448.
· Average sales price is also higher than last years’ average sales price and currently stands at $161,495, an increase of 4%. Last year, average sales price was $155,045.
· The Bear Creek Market area currently has 4.7 months of inventory, which is a considerable improvement in supply. Last year, the Bear Creek Market had 5.4 months of inventory. This is a sellers’ market and one of the best times ever in Houston history to sell a home in Bear Creek!
· In March 2006, 17.5% of all listings in the Bear Creek area received a contract during the month, according to the Houston Hotness Index!

Clear Lake Area 7

> Clear Lake single-family home sales have increased by 13 units over First Quarter 2005 with 489 homes sold in 2006 as compared to 476 last year.
> Contracts written and pending to close year-to-date are 13 units ahead of last year for a total of 364 MLS recorded pending sales.
> Homes listed and on the market in Clear Lake are up by 6% from this time last year with 788 single-family homes on the market today as compared to 745 last year.
> Clear Lake’s Average sales price is up by 2.6% and currently stands at $172,054, as compared to $167,686 last year during the same time frame.
> Days on the market register at 79, which represents the same number of days it took to sell a home as it did last year.
> Clear Lake was ranked #14 on the March Houston Hotness Index because 16.2% of all its’ listings went under contract during that one month!

North Area 12
· Sales in the North Market area in the First Quarter of 2006 have declined by 3 units in comparison to 2005. The area recorded 384 closed single-family home sales and in 2005 experienced 387.
· Listings are down in the North Market area by 1% over this time last year with 782 homes listed and on the market.
· Contracts pending are up by 3.5% with 317 homes receiving contracts in the First Quarter of 2006. Contracts pending in the First Quarter of last year registered at 306.
· Average sales price is slightly higher than last years’ average sales price and currently stands at $117,307 representing an increase of 2.4%. Last year, average sales price was $114,574.
· The North Market area currently has 5.4 months of inventory. Last year, the North Market had 5.7 months of inventory, an improvement in supply.
· A home seller in the North Market can expect to sell a comparably priced home for an average of 98% of the list price. The average price per square foot in the North area is $61.

Northwest 13

· Sales have increased dramatically in the Northwest Market area in comparison to First Quarter 2005 by 29.34% with 745 MLS recorded home sales!
· Listings are DOWN in the Northwest area by 11% over this time last year with 1,405 homes listed and on the market.
· Contracts pending are up by 7% with 599 homes receiving contracts YTD through First Quarter 2006. Contracts pending in the First Quarter last year registered at 560.
· Average sales price is also higher than last years’ average sales price and currently stands at $168,235 representing an increase of 4.1% Last year, average sales price was $161,564.
· The Northwest Market area currently has 5.1 months of inventory. Last year, the Northwest Market had 6.6 months of inventory, which is a considerable improvement in supply.
· In March 2006, 16.2% of all listings in the Northwest area received a contract during the month, according to the Houston Hotness Index!

Far Northwest 14

· Sales have increased dramatically in the Far Northwest area over First Quarter 2005 by 32.22% with 435 MLS recorded home sales!
· Listings are DOWN in the Far Northwest Market area by 7.42% over this time last year with 749 homes listed and on the market.
· Contracts pending are up by 26% with 352 homes receiving contracts YTD through First Quarter 2006. Contracts pending First Quarter last year registered at 280.
· Average sales price is also higher than last years’ average sales price and currently stands at $185,261 representing an increase of 4.6% Last year, average sales price was $177,162.
· The area currently has 5 months of inventory. Last year, the Far Northwest Market had 6.7 months of inventory, which is a considerable improvement in supply.
· In March 2006, 15.7% of all listings in the area received a contract during the month, according to the Houston Hotness Index!

Conroe – Montgomery County NW – Area 39

· Sales are up by 25.51% in NW Montgomery County from this time last year over First Quarter 2006 with 310 homes sales recorded in MLS as compared to 247 last year.
· Contracts written year-to-date are up 29% with 244 recorded pending contracts year-to-date as opposed to 189 last year.
· Listings are up over this time last year by 2.11%. There are currently 918 homes on the market in the area.
· Average sales price is up over last year [12%] and currently stands at $217,218.
· The area has 7.7 months of inventory as compared to 9 last year, which is an improvement in home supply. The average price per square foot is $93 and days to sell a home are 110, which is down from last years’ 123.
· The Houston Hotness Index indicates that the Conroe area sold 8.6% of its supply in the month of March.

East / Wood forest Area 2

· Sales are up in the East by 11% in First Quarter 2006 with 567 homes sales recorded in MLS as compared to 510 last year.
· Contracts written year-to-date are up by 7% or a total of 495 units recorded in MLS as pending contracts in First Quarter 2006 as opposed to 462 last year.
· Listings are up over this time last year by 23 units or 2%. There are currently 1,072 homes on the market in the area.
· Average sales price is up over last year [2.5%] and currently stands at $96,457.
· The area has 5.5 months of inventory, the same as last year. The average price per square foot is $59 and days on market to sell a home are 85, which is down from last years’ 83.


Fort Bend Sugar Land Z 29

> Sugar Land has experienced a 10% increase in single-family home sales over First Quarter 2005 with 417 home sales as compared to 379 home sales last year.
> Contracts written in Sugar Land are down by 26 units with 256 units pending to close.
> Sugar Land’s average sales price is up by 4.8% over First Quarter 2005 and now stands at $223,252 as compared to last year’s $213,013.
> Sugar Land homes on the market are down by 23% with 540 homes on the market as compared to last year’s 699.
> There are 3.1 months of inventory in Sugar Land as compared to last year’s 4 months of inventory, and that makes for a very healthy seller’s market. It takes 71 days on average to sell a home in Sugar Land, which is the same number of days that it took last year.
> Sugar Land area [Z29] ranked Number 20 on the Houston Hotness Index in March, with 15.1% of its listings receiving a contract during the month.
> Sugar Land will continue to heat up throughout the summer! It is a great time to sell your home in Sugar Land due to its’ higher average sales price, higher, increased number of sales and less competition [fewer homes on the market] than found last year ! Look for 2006 to be Sugar Land’s grandest year in single-family home sales!

Fort Bend Missouri City Z 38

> Missouri City has experienced 40 more home sales in the First Quarter 2006 as it did in 2005 with 402 home sales recorded in the Houston Association of Realtors® Multiple Listing Service.
> Contracts written in Missouri City are up by 27 units in comparison to First Quarter 2005 and now records 319 units pending to close.
> Missouri City’s average sales price jumped up 18% over year-to-date First Quarter 2005 and now stands at $175,758 as compared to last year’s $149,454.
> Missouri City homes on the market are up by 8% with 809 homes on the market as compared to last year’s 749.
> There are 5.5 months of inventory in Missouri City as compared to last year’s 5.1, and that still makes a healthy seller’s market. It takes 87 days on average to sell a home in Missouri City whereas last year, it took 82.
> According to the March Houston Hotness Index, the Missouri City area [Z38] had 13.2% of all listings receive contracts during the month.
> With Missouri City’s increase in buyer demand [contracts written] YTD through March, and its jump in average sales price, you can expect the market to outpace last year’s market even though last year was a very good year.

Fort Bend West Area 37

> Single family home sales in the West Fort Bend area are up by 18% over First Quarter 2005, with 452 recorded home sales YTD.
> Contracts initiated First Quarter 2006 are also up by 5%, or 322 units and that indicates that demand is rising for the area.
> Listings are down by 3.26% in the Fort Bend West area with 802 listings currently on the market in comparison to 829 last year.
> Average sales price for the Fort Bend West area has risen by 6% over First Quarter 2005 and is currently $177,574.
> The Fort Bend West area currently has 4.6 Months of Inventory, meaning if no other listings were taken, it would take 4.6 months to deplete the current supply of homes. Last year, there was 6.1 months of inventory, so the speed of sales and supply of inventory is far more in synchronization with a seller’s market.
> According to the MLS Houston Hotness Index for March, Fort Bend West had 14.2% of its inventory go under contract during the month. The list price/sales price ratio of homes in the area is 97% [meaning that on average, a seller could expect a reasonably priced home to sell for 97% of the list price]. Average price per square foot in the area is $73.


Fort Bend Southwest Area 30

> Single family home sales in the Southwest Fort Bend area are up by 9% over First Quarter 2005, with 289 recorded home sales YTD.
> Contracts initiated First Quarter 2006 are also up by 6.6%, or 211 total units and that indicates that demand is rising for the area.
> Listings are down by 7% in the Fort Bend Southwest area with 543 listings currently on the market in comparison to 584 last year.
> Average sales price for the Fort Bend Southwest area is up by 4% over First Quarter 2005 and is currently $188,260.
> The Fort Bend Southwest area currently has 5 Months of Inventory, meaning if no other listings were taken, it would take 5 months to deplete the current supply of homes. Last year, there were 5.9 months of inventory, so the speed of sales and dwindling supply of inventory is far more in synchronization with a seller’s market.
> According to the MLS Houston Hotness Index for March, Fort Bend Southwest had 15.2% of all inventory go under contract during the month of March.
> The list price/sales price ratio of homes in the area is 97% [meaning a seller could expect a reasonably priced home to sell for 97% of the list price]. Average price per square foot in the area is $75.

Katy / Cinco Ranch Area 36

• The Katy/Cinco Ranch Area was Number 2 on the Houston Hotness Index for March 2006! 21.1% of all active listings went under contract.
• The area has experienced 576 homes sales YTD or a 19.75% increase over First Quarter 2005.
• There has been a 9.53% increase in average sales price, which currently stands at $224,420.
• The Katy / Cinco Ranch area has experienced a 13% increase in pending sales for a total of 445 YTD.
• There is a shortage of homes on the market as the area experienced a 24% decline in homes on the market. There are currently 786 homes on the market.
• The market has 3.2 months supply of inventory, which indicates an appreciating market, as opposed to 5.2 months of inventory last year.
• Real estate markets don’t get much better than this in Houston!

Galveston County Area 33

> Single-family home sales in Galveston County were up 23% in First Quarter 2006 over the previous First Quarter with 859 home sales recorded in the Houston MLS year to date. There were 698 closed home sales last year during the same time frame.
> Pending contracts recorded First Quarter 2006 were up by 18% compared to last year. Pending units recorded year-to-date currently stand at 662 units whereas last year, pending units were 561.
> Galveston Homes on the Market reached the 2,066 mark in March 2006 and are up by 29% over last year, where inventory was 1,596.
> Galveston County’s average sales price is $165,289 and that figure is up by 11% over last year.
> Galveston County currently has 6.8 months of inventory. Last year, Months of inventory was 5.9. Days on the market [DOM] to sell a home in Galveston County is currently 83 and that is less than last year’s 93 DOM.
> While Galveston County has experienced a great market, a 29% rise in inventory with a 23% increase in sales, indicates that listings should be precision priced at its current 96% list price/sales price ratio or higher.

Hempstead East Area 10

> Single-family home sales are up by only 23 units in the East Hempstead area over First Quarter 2005 with 553 home sales recorded in MLS year to date. There were 530 single-family home sales last year during the same time frame.
> Pending contracts displayed an increase over First Quarter 2005 by 9.67%. Pending units recorded year-to-date currently stand at 431 whereas last year, pending units were at 393.
Hempstead East Homes on the Market are down by 13% over last year. There are currently 1,019 homes on the market as compared to 1,170 last year.
> The average sales price is $178,340 and that figure is just slightly higher than last year’s $173,303.
> The area is mirroring a seller’s market with 4.6 months of inventory. Last year, Months of inventory was still indicative of a sellers’ market with 5.4 months of inventory. Days on the market to sell a home in the Hempstead East area are currently 94, and last year, it was 92.
In March 2006, the Hempstead East area made the Houston Hotness Index because 17.2% of all listings went under contract during the month.


Kingwood Area 32

> Single-family home sales are up in Kingwood over First Quarter 2005 by 67 units or 31% with 286 home sales recorded in MLS year to date compared to 219 closed last year during the same time frame.
> Pending contracts really displayed an increase over First Quarter 2005 by experiencing a 44% increase in First Quarter 2006. Pending units recorded year-to-date currently stand at 228 whereas last year, pending units were at 158.
> Kingwood Homes on the Market are down by 22% over last year. There are currently 427 homes on the market in Kingwood as compared to 548 last year.
> Kingwood average sales price is $197,940 and that figure is up by 7% over last year.
> Kingwood represents a seller’s market with 3.9 months of inventory. Last year, Months of inventory were 5.7. Days on the market to sell a home in Kingwood are currently at 78 days, and last year, it was 88.
> In First Quarter 2006, Kingwood was #3 on the Houston Hotness Index because 19.2% of all listings went under contract during that one month.

Southwest Inner Loop Z 17

> Single-family home sales increased in the Inner Loop from First Quarter 2005 by 14 units with 246 homes sales recorded in Houston MLS First Quarter 2006.
> Pending contracts, which represent buyer demand year-to-date, has experienced a decline of 9 units. Pending contracts currently stand at 119 pending sales and last year, it experienced 128 pending contracts.
> Listings have declined from this time last year by 5% and the current inventory stands at 451 homes on the market.
> Average sales price has risen by 7.7% since this time last year and average sales price is currently $549,923.
> The average price per square foot in the SW Inner Loop is $192 and last year the average was $179.
> Homes listed in the SW Inner Loop can expect to net 98% of the list price on average and sell on average after 77 days on the market.

Spring Branch Area 24

> Single-family home sales are up in the Spring Branch area by 28%! There were 211 home sales First Quarter 2006 and during the same time frame last year, there were 165.
> Contracts initiated during the First Quarter of 2006 showed similar buoyancy with a 29% increase over last year during the same time frame. There were 152 contracts initiated last year and 118 this year. The market shows trends of continuing demand for the Spring and Summer.
> With the increased demand for single-family housing in the Spring Branch area, it is not surprising that listings have declined by 10% from this time last year. There are currently 394 active listings whereas last year, there were 438.
> The average sales price is up over this time last year by 11%. The current average sales price is $203,778 and last year it was $183,133.
> There are currently 4.9 months of inventory in the Spring Branch area, meaning that if no new listings came available on the market, it would take 4.9 months to sell the current supply. > This represents a market far more favorable to a seller than in any other time frame, especially in light of the fact that last year the market had 5.9 months of supply.
> A home priced comparably in the market can expect to sell for an average of 97% of the list price. Homes sold year-to-date have sold for an average of $98 per square foot.
> The Spring Branch area ranked 27th on the Houston Hotness Index for the month of March because 14.1% of all listings went under contract during that one month.


Tomball Area 35

> Single-family home sales have increased in Tomball from First Quarter 2005 by 28 units with 252 homes sales recorded in Houston First Quarter 2006.
> Pending contracts, which represent buyer demand year-to-date, has experienced an increase of 33 units. Pending contracts currently stand at 228 pending sales and last year, it experienced 195 pending contracts. This represents an increase of 16%.
> Listings have declined from this time last year by 5% and the current inventory stands at 606 homes on the market.
> Average sales price has risen by 5.2% since this time last year and is currently $184,899.
The average price per square foot in the Tomball area is $74 and last year the average was $71.
> Homes listed in the Tomball area can expect to net 97% of the list price on average and sell on average after 90 days on the market.
> The Tomball market is increasing in sales and tightening in supply of homes. With the average days on the market being reduced so dramatically, from 108 days in First Quarter 2005 to 90 in First Quarter 2006, the pendulum has swung to a sellers’ market.

West Center Inner Loop Area 16

> Sales are up 27% in the West Center Inner Loop from First Quarter 2005 over First Quarter 2006 and currently 191 homes sold as compared to 150 last year.
> Contracts written, a better indicator of buyer demand, are up by 27% from this time last year with 121 homes receiving contracts year-to-date.
> Listings in the West Center Inner Loop currently stand at 467 units and that figure is up from First Quarter 2005 by 28 units, or 6.4%.
> Average sales price is almost the same as last year and only slightly down by .41% from this time last year and is currently $486,372.
> Homes in the West Center Inner Loop sell on the average of $206 a sq. ft and last year that figure was $189. Homes that sell in the area can expect to render an average of 96% of the selling price and take approximately 86 days to sell.
> There are 7.2 months of inventory in the area. The West Center Inner Loop Area is a balanced market where neither the buyer nor seller has a greater negotiation advantage.

The Woodlands Area 15


> Single-family home sales in The Woodlands are up by 154 units in the First Quarter of 2006 over this time last year or 21% with 886 home sales recorded.
> Contracts written, a better indicator of “future demand”, show 704 pending sales have been written year-to-date. That is a 78-unit increase over that which was written in First Quarter 2005.
> Listings in The Woodlands are down by 20% with 1,521 homes on the market in First Quarter 2006 as compared to 1,900 in First Quarter 2005.
> Average sales price in The Woodlands is $253,459, which is 11.5% greater than First Quarter 2005, which averaged $227,309.
> The Woodlands has a 4.3-month supply of inventory, which indicates the area is a seller’s market. Days on the market to sell a home has declined in The Woodlands from this time last year from 96 DOM in First Quarter 2005 to 86 DOM in First Quarter 2006.

West Houston Area 31

> Single-family home sales in the West Houston area have increased by 14.42% in First Quarter 2006 over First Quarter YTD 2005 and currently register 238 units sold.
> Contracts written are up from this time last year by 23.5% and there are currently 168 units recorded pending as opposed to 136 last year. This type of increase shows trends of a market that will continue to heat up during the summer months.
> Listings are down by 16.5% from this time last year with 441 homes on the market.
> Average sales price YTD in the West Houston area is $309,400 and that is 12.44% more than First Quarter 2005 average sales price of $275181.
> Homes in the West Houston area sell at an average sales price of $111 a sq. ft. A seller can expect to sell his home for an average of 98% of the list price and take an average of 107 days on the market to sell. Months of Inventory currently stand at 5.2, representing a seller’s market.
> West Houston registered on the Houston Hotness Index in March because 13.9% of all current inventory went under contract during that one month.
> The steep increase YTD of contracts initiated, [representing buyer demand] with a concurrent decline of listings, indicate that if ever there was a time to sell a home in West Houston, it is now.
> Why? A seller could expect to derive more from the sale of their home in a market displaying high demand, rising sales prices and much less competition than found this time last year.


West Memorial Area 23

> Single-family home sales in the West Memorial area have increased by 27% in First Quarter 2006 over First Quarter YTD 2005 and currently register 156 units sold.
> Contracts written are up from this time last year by 89% and there are currently 89 units recorded pending YTD as opposed to 47 last year. This type of steep increase is indicative of an even more hot market still to unfold.
> Listings are down by 20% from this time last year with 281 homes on the market.
Average sales price YTD in the West Memorial area is $664,170 and that is 14% more than First Quarter 2005 YTD average sales price of $583,940.
> Homes in the West Memorial area sell at an average sales price of $187 a sq. ft. A seller can expect to sell his home for an average of 95% of the list price and take an average of 97 days on the market to sell. Months of Inventory currently stand at 4.3, representing a seller’s market.
> West Memorial was registered on the Houston Hotness Index in March because 13.7% of all current inventory went under contract during that one month.
> The steep increase YTD of contracts initiated, [representing buyer demand] with a concurrent decline of listings, indicate that it is a seller’s market. If ever there was a time to sell a home in Memorial, it is now.
> Why? A seller could expect to derive more from the sale of their home in a market displaying high demand, rising sales prices and much less competition than found this time last year.