Houston Real Estate Highlights in March
- Single-family home sales fell 2.5 percent year-over-year, with 6,810 units sold;
- Days on Market (DOM) for single-family homes increased slightly from 61 days in March 2017 to 63 days this March;
- Total property sales declined 2.3 percent with 8,274 units sold;
- Total dollar volume edged up 0.7 percent to $2.3 billion;
- The single-family home median price rose 2.4 percent to $233,500, which represents a March high;
- The single-family home average price climbed 3.0 percent to a March high of $292,756;
- Single-family homes months of inventory shrank year-over-year from a 3.6-months supply to 3.4 months, the highest level of this year and the same as the national inventory level;
- Townhome/condominium sales fell 5.4 percent, with the average price up 3.3 percent to $211,944 and the median price up 9.6 percent to $172,250;
- Leases of single-family homes fell 9.0 percent with the average rent up 6.0 percent to $1,748;
- Volume of townhome/condominium leases dropped 13.1 percent with average rent up 0.7 percent to $1,496.