Houston Real Estate Highlights in September
Single-family home sales fell 5.8 percent year-over-year, with 6,548 units sold;
Days on Market (DOM) for single-family homes was 52 days;
Total property sales declined 4.4 percent, with 7,842 units sold;
Total dollar volume was down 3.5 percent to $2.2 billion;
The single-family home median price edged up 0.2 percent to $232,500, a September high;
The single-family home average price also achieved a September record, rising 1.7 percent to $295,765;
Single-family homes months of inventory was at a 4.0-months supply, up fractionally from 3.9 months last September and slightly below the national supply of 4.3 months reported by NAR;
Townhome/condominium sales fell 6.1 percent, with the average price down 6.6 percent to $191,967 and the median price unchanged at $159,450;
Leases of single-family homes dropped 35.4 percent with the average rent down 4.0 percent to $1,812;
Volume of townhome/condominium leases plunged 44.5 percent with the average rent down 1.0 percent to $1,584.