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OCT
31
Houston's River Oaks and Avalon Single Family Home Sales Showing Same Trend As Other Parts of City
By Tom Plant



Tom D Plant - 1933 Bellmeade

Houston's River Oaks and Avalon single family home sales are showing the same trend as other parts of the city. Homes under $2 million are selling well and homes over $2 million are not. The mix of homes in River Oaks/Avalon are heavily weighted to homes over $2 million causing the number of transactions during the third quarter of 2009 to decline compared to 2008. Sellers in River Oaks/Avalon with a home valued under $2 million should be encouraged. At the third quarter rate of sales, the inventory of homes priced between $1 million and $2 million stands at less than 7 months. Those who own homes valued over $2 million may want to wait until early next year to assess the market. At the third quarter rate, the inventory of homes priced over $2 million in River/Oaks Avalon is more than 3 years.

The detailed statistics are shown below:

Tom D Plant RiverOaks

Disclaimer: The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the Houston Association of REALTORS®

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Tom Plant

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