Houston Real Estate Highlights in November
Single-family home sales fell 2.0 percent year-over-year, with 6,159 units sold;
On a year-to-date basis, home sales are up 4.6 percent and on track for breaking 2017’s record performance when December data are compiled;
Days on Market (DOM) for single-family homes was 60 versus 62 a year earlier;
Total property sales were statistically flat, with 7,400 units sold;
Total dollar volume rose 3.9 percent to $2.1 billion;
The single-family home median price climbed 4.4 percent to $235,000, a November high;
The single-family home average price also achieved a November record, rising 4.3 percent to $295,084;
Single-family homes months of inventory reached a 3.9-months supply, up from 3.6 months last November, but below the national supply of 4.3 months reported by NAR;
Townhome/condominium sales dropped 2.8 percent, with the average price up 9.0 percent to $213,043 and the median price up 4.5 percent to $165,000;
Leases of single-family homes jumped 15.3 percent with the average rent down 1.3 percent to $1,743;
Volume of townhome/condominium leases rose 0.6 percent with the average rent up 0.5 percent to $1,505.