Sales in West University/Southside Place have accelerated. In the six month period
October 2008 through March 2009 there were 48 homes under $1 million sold. In the
subsequent six months ending September 2009 twice the number or 95 homes were sold.
For homes over $1 million, the increase is even greater. In the October-March period 17
homes over $1 million were sold with 52 homes sold in the subsequent six months, a
threefold increase. While this does not mean homes sales are roaring back, it does
indicate we are surely moving out of the depths of the slump.

In previous posts I have explained how the inventory level is calculated and how to interpret
it. Please read those previous posts for more information.

Shown below is a table showing inventory levels in West University/Southside Place by
price range using both the Standard Method and the Six Month Method. The Standard
Method uses sales for the past 12 months and the Six Month Method uses sales from the
past six months.

The inventory level of homes in West University/Southside Place has moved to what
traditionally is considered a stable market. Homes under $1 million are trending toward a
Seller’s market and homes over $1 million are still a Buyer’s market. However, when
inventory levels are calculated with the Six Months Method, homes under $2 million are in a
Seller’s market. Homes over $2 million, while still a Buyer’s market, are moving lower and
toward stability.

If you want more detailed information about the West University/Southside Place
neighborhoods or any others, call me at 713.942.6895 or email tom@tomdplant.com.