December Monthly Market Comparison
The Houston housing market registered largely positive measurements in December, with single-family home sales, total property sales, total dollar volume and median pricing all up compared to December 2016.
Month-end pending sales for single-family homes totaled 5,413, an increase of 24.0 percent versus 2016. Total active listings, or the total number of available properties, declined 2.2 percent from December 2016 to 33,432.
Single-family homes inventory shrank from a 3.4-months supply to 3.2 months. For perspective, housing inventory across the U.S. currently stands at a 3.4-months supply, according to the latest report from the National Association of Realtors (NAR).
CATEGORIESDECEMBER 2016DECEMBER 2017CHANGE
Total property sales7,8508,1253.5%
Total dollar volume$2,209,007,615$2,271,587,7462.8%
Total active listings34,19933,432-2.2%
Single-family home sales6,6066,8754.1%
Single-family average sales price$294,035$292,174-0.6%
Single-family median sales price$226,050$230,0001.7%
Single-family months inventory*3.43.2-0.2 mos.
Single-family pending sales**4,3675,41324.0%
* Months inventory estimates the number of months it will take to deplete current active inventory based on the prior 12 months sales activity. This figure is representative of the single-family homes market.