Note: Story updated below.
A Swamplot reader writes in one day early, mighty eager to get a glance at the latest Houston real estate numbers:
It seems that things must be so bad in the high end that Greenwood King’s monthly market report isn’t even out for February -and it is April!
It is basically soft core porn for real estate watchers. A girl friend of mine simply emails me an excited ‘ITS OUT!!!’ whenever it is posted.
This report is watched by everyone, because it provides a focused glimpse into the city’s Better Homes and Gardens. It is a very exclusive party list. When riff raff is even allowed in the party, it is neatly segregated from the other data: I guess “Montrose (Townhomes)” is allowed in just because it is a quirky and fun guest and “Montrose (Single Family)” needs someone to talk to.
Last month’s report featured a bunch of zero’s for sales in River Oaks, Southampton, and other tony neighborhoods. The result? Well it is raw data, but the overall average is a nice data point: -22% price change over the prior January, and a stunning 45% drop in volume.
Needless to say, the whole town is waiting for their invitation to the party this month. . . .
I do hope they keep posting it on the internet. I fear they will stop once it gets inconvenient.
Update, 4:48 pm: As noted in the comments, IT’S OUT!!! now.
- Greenwood King Properties January 2009 Houston Market Report (PDF) [Greenwood King]