February Monthly Market Comparison
Most of Houston’s monthly housing market indicators reflected positivity in February, with single-family home sales, total property sales, average and median pricing and total dollar volume all up compared to February 2017. Month-end pending sales for single-family homes totaled 6,912, up 11.1 percent versus last year. Total active listings, or the total number of available properties, however, declined 2.2 percent to 33,939.
Single-family homes inventory shrank to a 3.2-months supply from 3.4 months a year earlier. 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).
CATEGORIESFEBRUARY 2017FEBRUARY 2018CHANGE
Total property sales6,1816,3753.1%
Total dollar volume$1,639,814,909$1,713,566,9034.5%
Total active listings34,70733,939-2.2%
Single-family home sales4,9975,2605.3%
Single-family average sales price$280,813$281,9450.4%
Single-family median sales price$223,000$226,2001.4%
Single-family months inventory*3.43.2-0.2 months
Single-family pending sales6,2206,91211.1%
* 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.