January News You Can Use

Housing Stats • Buying or Selling • Homestead Exemption • New Loan Limits

Houston Home Sales Slightly Increase in December

It was a topsy-turvy second half of 2018.  Thankfully, December ended with more total property sales than the previous month.  On a yearly basis, 2018 showed a 3.7% increase in total property sales compared to 2107.  Sales in most price ranges rose in December, while the number of active listings and months of inventory decreased. 

Month-to-Month Comparison:

CategoryJan. 2018Feb. 2018Mar. 2018Apr. 2018May 2018June 2018July 2018Aug. 2018Sept. 2018Oct. 2018Nov. 2018Dec. 2018
Total Property Sales5,4686,3758,2748,4539,72110,1159,5599,9787,8428,1277,4007,709
Total Active Listings33,94533,93935,00436,88239,47840,19841,45941,99141,56041,06140,53037,554
Single-Family Home Sales4,1045,2606,8107,0708,1578,5188,1088,3586,5486,7166,1596,543
Townhome/Condominium Sales357459603591669696594648492523484505
Single_Family Months of Inventory3.33.23.43.64.04.14.24.14.03.93.93.5
Single-Family Pending Sales6,3136,9128,3278,7668,9918,3968,4678,0846,6307,0396,0525,120
Days on Market676563565248484952576064

Single-Family Sales by Price Range (Harris, Fort Bend, Brazoria & Montgomery Counties)

Price RangeJan. 2018Feb. 2018Mar. 2018Apr. 2018May 2018June 2018July 2018Aug. 2018Sept. 2018Oct. 2018Nov. 2018Dec. 2018
$1 - $99,999206207223192205180153182134187164155
$100,000 - $149,999458514577529586620517563453540410455
$150,000 - $249,9991,5681,8362,2842,3872,7912,9032,8062,9602,3382,3682,2472,249
$250,000 - $499,9991,2471,5482,0912,2842,6882,7802,6362,5771,9202,0381,9172,168
$500,000 - $749,999176238349369462515442424325311290333
$750,000 and above110156207250317341292292200222200260

Selling or Buying in 2019?

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Leslie Lerner Properties offers buyers a unique, rebated, money-saving commission structure when purchasing depending on the number of home showings.

REMEMBER TO FILE FOR A HOMESTEAD EXEMPTION BEFORE APRIL 30, 2019

If you purchased a property prior to January 1, 2019; (2) you occupied it as your principal residence on January 1st; and (3) you and your spouse do not claim a residence homestead exemption on any other property, you could be eligible for a property tax exemption. Make sure you file by April 30, 2019.

Harris County:
Application for Residence Homestead Exemption (Fillable)
Harris County Appraisal District iPhone App
Harris County Appraisal District Google Play App

Fort Bend, Montgomery and Brazoria Counties:
Application for Residence Homestead Exemption

Waller County:
Application for Residence Homestead Exemption

Loan Limits Increase in 2019

The Federal Housing Finance Agency (FHFA) has issued the maximum loan limits that will apply to conventional loans to be acquired by Fannie Mae in 2019. The new base loan limit in all Texas counties is now$484,350.This is a 6.9% increase over the 2018 limit.

Ex: A buyer purchasing a home for $535,000 can get a conventional loan (not jumbo) for approximately 10% down.