Foreclosures 0405
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MAPPING FORECLOSURE SALES Percentage of sales that were foreclosures in 2008, by ZIP code:
40-62%
30-40%
20-30%
10-20%
105
0-10% 59
45
1960
290
90
8 8 10 610
225
99
146
Galveston Bay
90A 59 6 288
45 35
SALES COMPARISON
Gulf of Mexico
Foreclosure properties have made up a growing percentage of overall home sales handled by the Houston Association of Realtors, accounting for 22 percent of sales in 2008. Here is a comparison of sales prices for single-family homes sold through the Multiple Listing Service over the past two years: 2007 Nonforeclosed
Number of sales 55,822 Average price $227,821 Median price $165,000 Most expensive $8,500,000
2008
Foreclosed
Nonforeclosed
Foreclosed
11,061 $116,752 $100,000 $1,065,000
43,752 $240,596 $173,028 $9,940,000
12,260 $109,558 $90,905 $2,650,000
Sales activity The number of foreclosure home sales in the Houston area by region: Inside the Loop Between Beltway 8 and Loop 610 Outside the Beltway
Growing market Foreclosures as a percentage of total sales handled by Realtors: Source: Crawford Realty Advisors prepared this analysis based on sales handled by the Houston Association of Realtors Multiple Listing Service
2003
2007
2008
124 706 2,467
293 2,152 8,616
362 2,556 9,342 21.9%
20 % 15 10 5
3.8%
0 ’00
’01
’02
’03
’04
’05
’06
’07
’08
JAY CARR, LISE OLSEN : C H R O N I C L E
40-62%
30-40%
20-30%
10-20%
105
0-10% 59
45
1960
290
90
8 8 10 610
225
99
146
Galveston Bay
90A 59 6 288
45 35
SALES COMPARISON
Gulf of Mexico
Foreclosure properties have made up a growing percentage of overall home sales handled by the Houston Association of Realtors, accounting for 22 percent of sales in 2008. Here is a comparison of sales prices for single-family homes sold through the Multiple Listing Service over the past two years: 2007 Nonforeclosed
Number of sales 55,822 Average price $227,821 Median price $165,000 Most expensive $8,500,000
2008
Foreclosed
Nonforeclosed
Foreclosed
11,061 $116,752 $100,000 $1,065,000
43,752 $240,596 $173,028 $9,940,000
12,260 $109,558 $90,905 $2,650,000
Sales activity The number of foreclosure home sales in the Houston area by region: Inside the Loop Between Beltway 8 and Loop 610 Outside the Beltway
Growing market Foreclosures as a percentage of total sales handled by Realtors: Source: Crawford Realty Advisors prepared this analysis based on sales handled by the Houston Association of Realtors Multiple Listing Service
2003
2007
2008
124 706 2,467
293 2,152 8,616
362 2,556 9,342 21.9%
20 % 15 10 5
3.8%
0 ’00
’01
’02
’03
’04
’05
’06
’07
’08
JAY CARR, LISE OLSEN : C H R O N I C L E
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