Houston Real Estate Highlights in July
Single-family home sales rose 9.1 percent year-over-year, with 8,108 units sold;
Days on Market (DOM) for single-family homes remained unchanged at 48 days;
Total property sales increased 8.5 percent, with 9,559 units sold;
Total dollar volume jumped 11.4 percent to nearly $2.8 billion;
The single-family home median price rose 5.9 percent to $243,500, reaching a July high;
The single-family home average price also achieved a July record, rising 2.4 percent to $305,910;
Single-family homes months of inventory was at a 4.2-months supply, down fractionally from 4.3 months last July, but nonetheless at the highest level since August 2017;
Townhome/condominium sales rose 6.1 percent, with the average price up 6.9 percent to $215,110 and the median price up 9.3 percent to $165,000;
Leases of single-family homes fell 1.9 percent with the average rent up 5.6 percent to $1,916;
Volume of townhome/condominium leases dropped 6.6 percent with the average rent up 7.7 percent to $1,666.