Clear Lake Area 7 

• Clear Lake was ranked #2 on the February Houston Hotness Index because 14.8% of its listings went under contract during that one month.
• Clear Lake single-family home sales have declined by 48 units over February YTD 2007 with 221 homes sold in 2008 as compared to 269 last year.
• Contracts written and pending to close year-to-date are 9.01% for a total of 202 MLS recorded pending sales. Last year, there were 222 contracts pending in February.
• Homes listed and on the market in Clear Lake are 10 units greater than those found this time last year with 737 single-family homes on the market today.
• Clear Lakes Average sales price is up by 3.48% and currently stands at $177,909, as compared to $171,929 last year during the same time frame.
• Days on the market register at 82, which represents a 1-day decline from Days on the Market last year during the same time frame

Galveston County Area 33  

• Single-family home sales in Galveston County were down 14.74% in February 2008 over the previous February with 509 home sales recorded in the Houston MLS year to date. There were 597 closed last year during the same time frame.
• Pending contracts recorded in February 2008 were down by 13.87% compared to last year. Pending units recorded year-to-date currently stand at 410 whereas last year, pending units were at 476.
• Galveston Homes on the Market reached 2,659 in February 2008 and are up by 4.27% over last year.
• Galveston Countys average sales price is $178,528 and that figure is up by 5.27% over last year. The median sales price for Galveston County, where half the homes sold above and half sold below is $148,750, a 6.41% decrease over this time last year.
• Galveston County currently has 7.8 months of inventory. Days on the market to sell a home in Galveston County is currently at 97 days and is 6.59% more than last years 91 DOM.
• Listings should be precision priced at its current 94% sale price/list price ratio or higher.